Abstract
This paper introduces a superefficiency financial efficiency model with undesirable output based on the features that the output of industrial enterprises contains desirable output as well as undesirable output. Furthermore, the Malmquist index model is constructed for financial efficiency dynamic study, and the spatial Durbin model is constructed for evaluation and impact of enterprises. According to the financial data of Chinese enterprises from 2007 to 2019, this paper evaluates the financial efficiency of Chinese interprovincial industrial enterprises dynamically and measures the influence levels of major impacts on the financial efficiency of Chinese interprovincial industrial enterprises quantitatively. As reported by this paper, the conclusions are as follows: (1) In reference to the financial efficiency dynamic study analysis, there is an obvious growth trend in the financial efficiency of Chinese interprovincial industrial enterprises in different years. Based on the horizontal analysis of financial efficiency, there is a relatively large gap in financial efficiency among Chinese interprovincial industrial enterprises. (2) From the separation factors of financial efficiency analysis, the main factor affecting the growth of the financial efficiency of Chinese industrial enterprises is the modification of technology, and the modification of technical efficiency has a minor impact. (3) In accordance with the impacts of enterprise efficiency analysis, several major factors influence the financial efficiency of Chinese industrial enterprises such as major business cost, operating profit, total liabilities, national capital, and the number of R&D personnel.
Highlights
With the world economy getting into the stage of rapid development of postindustrialization, the resource shortage and environmental pollution issues are getting worse and worse, which affect people’s lives and the development of society. erefore, the use of scientific methods to analyze and evaluate the financial efficiency of regional industrial enterprises and to dig out their influencing factors and influencing directions is of great practical significance for promoting energy conservation and emission reduction of regional industrial enterprises, improving the ecological environment, and realizing regional sustainable development
Financial efficiency refers to the ratio between input and output of financial resources and other ratio relationships derived therefrom. ere are multiple methods to evaluate enterprise financial efficiency, and the primary methods are the single index method, data envelopment analysis (DEA), comprehensive index method, principal component analysis, and regression analysis of linear and nonlinear parameters
Deng et al [3] established a dynamic evaluation system based on data envelopment analysis (DEA), analytic hierarchy process (AHP), and priority ranking enrichment evaluation organization method and evaluated the financial efficiency of China’s nuclear power-related enterprises
Summary
Is paper introduces a superefficiency financial efficiency model with undesirable output based on the features that the output of industrial enterprises contains desirable output as well as undesirable output. The Malmquist index model is constructed for financial efficiency dynamic study, and the spatial Durbin model is constructed for evaluation and impact of enterprises. As reported by this paper, the conclusions are as follows: (1) In reference to the financial efficiency dynamic study analysis, there is an obvious growth trend in the financial efficiency of Chinese interprovincial industrial enterprises in different years. Based on the horizontal analysis of financial efficiency, there is a relatively large gap in financial efficiency among Chinese interprovincial industrial enterprises.
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