中國大陸白酒上市公司經營效率： 共同邊界法的應用

Abstract

本研究利用資料包絡分析法為基礎研究方法，並採用Battese et al.(2004) 之共同邊界分析法，以中國大陸17家白酒A股上市公司2002年至2013年的財報資料，再將以上決策單位區分為專業型白酒公司與綜合型白酒公司等兩個子群體，計算出各個子群體的技術落差比例，再進行經營效率的比較分析。研究結果顯示，(1)在共同邊界下，專業型白酒公司的平均純技術效率高於綜合型白酒公司。(2)綜合型白酒公司技術落後程度較專業型白酒公司的技術落後程度來的大，即專業型白酒公司技術領先綜合型白酒公司。

This paper applies the metafrontier approach proposed by Battese et al. (2004) to analyze the efficiency and technology gap ratio (TGR) of 17 Chinese liquor listed companies during 2002 to 2013. The companies are divided into two groups: specialized and diversified. The efficiency scores and technology gap ratios are then computed and analyzed by the data envelopment analysis (DEA). Our major empirical findings are as follows: (1) With respect to the metafrontier, the average efficiency score of specialized companies is higher than that of diversified ones. (2) The average TGR score of specialized companies is better than diversified ones.