Research On The Performance Of The Listed Environmental Protection Companies After Promotion Of PPP Pattern—Based On DEA Model

In recent years,China's economy has made remarkable achievements,and the people's requirements for living standards are increasing.China has increased its attention to environmental issues.The 18th CPC National Congress mentioned ecological civilization as an important part of the General layout of China's Socialism.On the 19th CPC National Congress,President Xi Jinping proposed that we must establish and practice the concept of"Lucid waters and lush mountains are invaluable assets".In fact,China's development since the reform and opening up has taken the road of "pollution first and then treatment",and there are many "debts".At present,from the construction of public projects to environmental protection and governance,China is facing a huge financing gap.In the face of the shortage of government funds and the short board of project governance level,public-private partnership(PPP)has become a new mechanism with the fastest growth in public project construction.In September 2014,the Ministry of Finance issued the notice on issues related to the promotion and application of government and social capital cooperation mode.a policy promotion event that opened up the PPP mode in China.More and more PPP projects developed,and it also contributed to the success of more and more environmental protection projects.The PPP model has reached a certain consensus on the advantages of the public sector.However,the performance of the private sector,which plays an important role in project operation and risk sharing,is not directly reflected by the PPP model.This paper takes environmental protection companies in the private sector as an example to study the performance changes of listed environmental protection companies before and after participating in PPP projects,and to evaluate the changes of their performance in order to reflect the impact of PPP model on them,and to give some suggestions to typical companies and the Environmental protection industry according to the results.This paper first summarizes the literatures,defines the concept of performance,and combs the research status of environmental protection company performance evaluation;classifies the DEA model,discusses the effectiveness of DEA model on event research,so as to demonstrate the feasibility of using DEA method.According to the characteristics of environmental protection companies,by choosing a reasonable DEA model and constructing the input and output indexes.the evaluation model of PPP policy promotion based on DEA model is established.In this study,64 environmental protection companies in PPP concept shares of Shanghai and Shenzhen A-shares are taken as the research objects,the financial indicators and industry characteristic indicators of environmental protection enterprises from 2013 to 2018 are screened and processed,the data are processed by using BCC-DEA model,and the overall situation of the industry is summarized according to the results,and more than 75%of companies in the industry are gained performance improvement.According to the main business,the companies could be divided into three categories for being compared and analyzed.The results show that the performance level of landscape ecological companies is continuously leading,the growth rate of water environment companies is the largest,and the growth rate of solid waste treatment companies is the lowest.The typical companies are discussed,and the reasons of performance change at the company level are analyzed.Finally,in the context of PPP mode promotion,it provides advice for environmental protection companies in China.