The Empirical Analysis Of Financial Efficiency For Shorterm Credit Of Northeastern Chinese Listed Company

Capital is the pivotal factor to restrict ecnomic development. Suitably devoting capital is the premise to improve the ecmomic comdition of corporations. As we known, capital is rare, as a result, discussing financing efficiency of corporation is a important, problem currently. At present, the articles of studying financing efficiency are researching stock financing or comparing the financing efficiency of different financing fashion basically. The articles of studying credit financing efficiency wholly is rare, so this article is on the side of credit to discuss the effiency of financing, expecting to complement the other scholors' researchful fruit.This article takes 86 listed companies as stylebooks to analyze and appraise the credit financing efficiency using DEA method and educe several conclusions as follows:(1) The short credit financing efficiency of 2003 is under the short credit financing efficiency.(2) The short credit financing efficiency' order of northeast is Liaoning province, Jilin province and Heilongjiang province.(3) The effective companies of northeast centralize three industries, namely manufacturing, wholesail and retail industry and the production of electric, coal,gas and water supplying industry.(4) The efficiency of little scale companies comparatively is higher than that of big scale companies comparatively.This article analyze relative reasons and bring some advice basing the conclusions above.