| The fundamentals of listed non-ferrous metals companies of concern are not only for top management, creditor, shareholders, securities analysis, government authorities and even the macro-economic policy-making departments. As an Industry representatives of productive, listed non-ferrous metals companies play an important role in promoting industry structure adjustment, and promoting the upgrading of the industrial structure. By improving corporate image, excellent non-ferrous metals listed enterprises can obtain both considerable operating profit and the confidence of the shareholders which in order to financing successfully in capital market. Recently, several problems such as high energy consumption, state-owned type enterprise assets contribution rate is low and different regions unbalanced development between enterprise restricted the development of China's nonferrous mental industry.All of the problems above need to be improved urgently.Article uses SFA with panel data from 2007-2009 to measure the efficiency of 23 listed non-ferrous metals companies of China. This study found that the whole industry efficiency level is low, with huge differences between enterprises. The began to decline from 2008 mainly due to the international financial crisis, because non-ferrous metal industry prosperity is highly dependent on international economic and environment factors.The latter part use the method of quantile regression to analysis the influence factor of listed companies, we find that the relationship between operational efficiency, ownership structure of enterprises, and capital structure not completely not consistent. Listed non-ferrous metals companies only through positive merger and reorganization, improving the implementation of assets of industrial concentration, increasing enterprise production technology improve investment, strengthen the management level, to better control the production elements of the investment, improve business efficiency. |
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