The Research On Financial Efficiency And Its Influencing Factors In Shandong Province

Economic development has been the eternal topic of common concern all over the world, finance is playing a more important role in various elements of economic development, the understanding of finance is becoming increasingly richer, “Financial resource” put forward from a higher level is a new exposition of the concept of Finance,then the following problems are financial efficiency related issues, both on the financial industry itself and on economic growth improving financial efficiency is of great significance. Financial reform is imminent for China in the special stage of the "three phase", an important content of the reform is the problem of financial resources allocation. Economic of Shandong in the national rankings has been among the best,however, compared with the developed cities with similar levels of economy, Shandong is a big financial province, but not financial competitive province, financial resources have not used to the full, therefore, improving the financial efficiency of Shandong is of strategic significance.First of all, this paper reviewed the related literature at home and abroad, and summarized the theory of financial resources and financial efficiency, on this basis,define the concepts involved in this paper, determine the scope of the study, lay a solid theoretical foundation for the empirical analysis; secondly, horizontal contrast with Jiangsu and every city based on the date of financial resources in Shandong during2004-2014, carry on the descriptive statistical analysis of various financial resources in Shandong; And then using the date envelopment analysis(DEA), five representative financial resources —the number of financial professionals, loan Balance of Financial Institutions, total amount of funds used by non-bank financial institutions, premium income and the amount of money raised by listed companies for the year — used as input variables, select the financial added value as the output variable, give efficiency overall evaluation on the allocation of financial resources in Shandong during 1994-2014,and analyze the year for which did not reach the effective value; With the aid of DEA-Tobit model, an empirical analysis is made on the macro and micro factors thataffect the financial efficiency of Shandong province. Finally, the conclusion based on normative analysis and empirical analysis puts forward the policy suggestions to optimize the financial efficiency of Shandong.