Construction Enterprises Efficiency Analysis Based On DEA-Tobit

This paper evaluated the productive efficiency and its influencing factors of the 19 listed Construction enterprises in China from 2007 to 2010 based on microscopic aspects. Then it supplied recommendations to ensure the healthy and orderly development of China's construction industry.Firstly the paper used DEA model to obtain the overall efficiency ranking of the construction business, then compared the difference of the central enterprises, local enterprises and private enterprises, and determined the benchmark for business based on panel data in 2010. Secondly it analyzed the overall development trend of construction industry based on Malmquist index of the efficiency in 2007-2010. Finally it used Tobit regression to analyze the factors that affected the efficiency of construction enterprises based on the result of DEA.The results show that: First, the integrated efficiency of private enterprises is at the leading place in the construction industry, central business has certain advantages in the scale efficiency, three types of enterprises all maintain a high level in the pure technical efficiency. Second, The M index of our country's construction enterprises is approximately equal or greater than 1, which indicating that Chinese construction enterprises was in good condition in overall efficiency, and the overall trend is good. Third, the input of scientific research and the return on assets and the total assets per capita have a significant positive correlation with the productive efficiency. The Ownership structure has a non-significant correlation with the productive efficiency.The domestic Study of efficiency focused on countries, industries, regions and other macro-areas, part of the construction business efficiency study only focused on static DEA analysis to make ranking. In this paper, it used the Malmquist index and Tobit regression analysis to further grasp the development trend of China's construction enterprises and the overall analysis of the efficiency factors. The article divided construction enterprises into central enterprises, local enterprises and private enterprises from the ownership structure to analysis the difference between the efficiency.