Abstract
Investment efficiency reflects the debt paying ability, profitability and sustainability of enterprises, and is a guide to the development direction of Chinese energy enterprises. Investment efficiency is the ratio of the value of the effective benefits generated by the investment behavior of a firm to the value of the related expenditures, which reflects the degree of efficiency of the firm's use of materials.Fisher, Modigliani and Miller consider business activities as a continuation of investment activities. Therefore, corporate investment behavior is equivalent to production behavior in economics, and the efficiency of corporate investment is equivalent to production efficiency. There are many factors that affect the efficiency of corporate investment, and by studying investment efficiency, these influences can be assessed. For example, Song Liying, Li Liqing An Tongliang Czarnitzki D, and Hu Wenjun evaluated the effect of government subsidies through investment efficiency. Tian Yu, Zhang Tongbin evaluated the tax policy through investment efficiency. DEA method is widely used internationally as a method to measure efficiency. It was proposed by Charnes, Cooper and Rhodes and promoted by Banker et al. and Fare.The DEA approach relies on the observed data of the decision unit to calculate the input-output ratio and determine the effective production frontier. In this paper, the investment efficiency of Chinese energy companies is studied using the DEA method to lay the foundation for the evaluation of investment policies.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
