Total factor productivity and regional difference of tourism industry of listed companies

Abstract

Tourism industry has become a breakthrough point for China’s economic growth. As of 2019, the tourism economy has been maintaining a faster growth than the GDP growth rate, the entry and exit market has been developing steadily, the structural reform on the supply side has been effective, and the per capita income of China’s residents has grown significantly. In this context, this paper selects fifteen listed tourism companies in China as samples, uses the Malmquist index method in DEA to measure the total factor productivity of these fifteen companies in China as samples, analyzes their resource allocation efficiency, and tests the robustness of the empirical results. Three conclusions are obtained: from the overall perspective, the total factor productivity of fifteen listed companies as a whole shows an upward trend during the 5-year period, mainly due to the technological progress; from the year perspective, the Malmquist productivity index of China’s tourism industry shows a turnaround change during the 5-year period, and the operational efficiency shows regional differences; the fluctuations of various listed tourism companies in China are influenced by the environment and policies.