Research On Operation Efficiency Of Listed Chinese Internet Enterprises Based On DEA Model

In recent years,the rapid development of China's Internet industry has attracted worldwide attention.The integration of the Internet and the real economy has continued to reshape the industry.Internet companies have also gradually expanded from the "consumer" field to the "production-oriented" field.With the "Made in China 2025" and the strategy of a powerful Internet country,the development model of traditional manufacturing industry is also faced with the question of how to use "Internet +" to promote the "Made in China" to "Create in China".In this context,operational efficiency as a comprehensive reflection of the competitiveness of enterprises,how to improve the operational efficiency of Internet companies has become the focus of corporate managers and risk investors,and a large amount of“burning” high capital investment and light Whether or not the development model of assets is conducive to the improvement of the operational efficiency of the company also deserves further discussion.Based on the enterprise operation management theory and efficiency evaluation theory,combined with the characteristics of the development of Internet companies,this paper constructs an input-output model for evaluating the operational efficiency of Internet companies.According to the relevant reports of the China Internet Association and the Ministry of Industry and Information Technology,this paper selected 37 domestic listed companies and collected relevant data of these companies.By using the DEA model and the super-efficiency model this paper compares the relative efficiency analysis and absolute efficiency ranking of 2016 cross-section data;and using the DEA-Malmquist index this paper analyzes the dynamic efficiency of the panel data for four consecutive years from 2013 to 2016;finally using Tobit model this paper has conducted in-depth research on the factors that affect the operating efficiency of Internet-listed companies.The research results show that the overall operational efficiency of China's Internet industry has made great progress from 2013 to 2014;the popularity and development of mobile Internet terminals have led to internal changes in the Internet industry chain, and companies in the back end of the industry chain have gained greater profit margins and improved operational efficiency.Technology investment and innovation are the key factors affecting the operating efficiency of Internet-listed companies;occasional fluctuations in the macro-environment and the micro-market will also affect the operational efficiency of Internet companies.