A Analysis Of Efficiency And Influence Factors Of Non-ferrous Metals Listed Companies

That China’s economic development has entered a new normal state will have a profound impact on the non-ferrous metals industries. The growth of non-ferrous metal industry gradually transferred from the rapid growth to high-speed growth; The upgrade and development of non-ferrous metals enterprises have faced much more severe challenges than before. The background of the development of non-ferrous metals industry concentrates us to the operation of non-ferrous metals enterprises. In this paper, a research to the efficiency of non-ferrous metals listed companies is conduct toreflect the operation of non-ferrous metals enterprises in some extent.Applied DEA model,27non-ferrous metals listed companies were selected to study their efficiency. The input variables are:total assets, total operating costs, the number of active employees, cost of sales; The output variables are:revenue, operating profit, total asset turnover.In the precondition of no affection to results, combine the DEA’s requirements on data and Fan Hong’s researchs in2001and2006, the data were optimized. Analysis on the efficiency of non-ferrous metals listed companies found:The efficiency of listed companies were restricted by pure technical efficiency,in a other word, listed companies’technology and management need to be improved; Second, China’s non-ferrous metals listed companies in2007-2013are invested in a saturated state.That the size efficiency of most non-ferrous metals listed company are constant or decreasing indicated that China’s nonferrous metals listed companies should invest in rational planning, not blind expansion of production capacity. The factors that affect the efficiency of non-ferrous metals listed companies: super-efficient for the explanatory variables; Total assets of logarithms, the company serving employees, company age, controller type, accounting for intangible assets, and operations in ore-election, Purchasing Manager Index for explanatory variables. Applied Woodridge test on regression model,we applied suitable feasible generalized least squares method to estimate the model, obtain more objective results.