The Efficiency Of China's Nonferrous Metals Industry Listed Companies

The efficiency of non-ferrous metals companies reflect companies'profitability, growth capacity and sustainability. Meanwhile,the size of the companies efficient reflect allocation of resources, and general business conditions. Efficiency of an enterprise's core competitiveness is to determine the performance of listed companies the most important factor. Further study the efficiency of non-ferrous metal companies to provide certain information on the improvement of non-ferrous metal industry cluster, to further improve the efficiency, speed up corporate restructuring industry. In the background, a large amount of outstanding non-ferrous metal companies to finance market and improve corporate image, the fundamentals of listed companies non-ferrous metals of concern are not only for shareholders but also employees, creditors, securities analysts, government authorities and even the macro-economic policy-making departments. The analysis on the efficiency of enterprises on of non-ferrous metals, nonferrous metals enterprises can identify problems and improve the management level, optimizing resource allocation, increasing the non-ferrous metal industry companies to adopt advanced technology and for technological innovation, strengthen its core competitiveness, to develop and grow in capital markets, the market economy and the tide of globalization. Article uses DEA with panel data from 2005 to 2008 to measure the efficiency of listed non-ferrous metals companies of China. Comparing the companies'efficiency and judge the situation of returns to scales. Comprehensively reflecting the overall efficiency situation of listed nonferrous metals companies in China.This study found that, firstly, from the perspective of industry as a whole, the efficiency of the overall industry was on the upswing from 2005 to 2006,then began to decline from 2007, this is mainly due to the international financial crisis. Secondly, from the company point of view, the overall efficiency of listed nonferrous metals are four effective companies, ten effective pure technical efficiency companies, six effective scale efficiency companies. Results show that the majority of listed non-ferrous metal companies in China need to further improve the efficiency from pure technical efficiency and scale efficiency improvements both at the same time.