The Operational Efficiency Evaluation Of China's Listed Unicorn Enterprises Based On DEA

In recent years,with the steady development of China's economy,Internet,big data,cloud computing,etc.have developed rapidly.A large number of new technologies,new industries,new formats and new models have emerged,bringing more vitality to the economic society.A number of Unicorn enterprises with great potential have emerged.In 2019,there are more than 200 Unicorn enterprises in China,with a valuation of more than 900 billion US dollars The number and valuation of Unicorn has surpassed that of Unicorn enterprises in the United States,and it has become the leader of scientific and technological innovation and the vane of economic growth,which has a huge impact on China's economic operation and social development.However,due to its own characteristics,especially its short establishment time,large amount of intangible assets,fast development speed and different industry attributes,it is difficult to evaluate the operation and development of Unicorn enterprises.At the same time,in the existing academic research,the research on Unicorn enterprises focuses more on the current situation,valuation,incentives and other aspects,and the evaluation on the operating efficiency of the relationship between the development of business is relatively less.Therefore,considering the convenience of data collection and other factors,this paper selects 19 Unicorn listed companies as the case study object,through the evaluation of their operating efficiency,finds out the existing problems,helps them to solve the development difficulties,and puts forward the strategies to improve operating efficiency.Therefore,it is of great practical significance to evaluate the operating efficiency of Unicorn enterprises.This paper combines theory with practice,comprehensively uses literature analysis,qualitative and quantitative analysis,empirical analysis,interdisciplinary research and other research methods,takes Unicorn enterprise as the research object,deeply analyzes the relevant theories and methods of operating efficiency evaluation,and takes Unicorn enterprise,a hot topic in the current economic society,as the starting point of the problem analysis,to operate listed Unicorn enterprises Comprehensive evaluation of efficiency.First of all,this paper combed the research literature of Unicorn enterprises at home and abroad,as well as the related theoretical knowledge about the evaluation of enterprise operation efficiency,and made clear the significance of the evaluation of Unicorn enterprise operation efficiency;secondly,it compared and analyzed the differences of different efficiency evaluation methods,and selected the classic efficiency evaluation method DEA method as the evaluation method of Unicorn enterprise operation efficiency,through multi input Multi output index analysis can reduce the difference between error items and invalid rate items,and improve the objectivity of analysis.Then,the management status of 19 sample enterprises is sorted out,and the classic model of DEA method is used to evaluate their operation efficiency.Finally,the efficiency evaluation results are analyzed from the vertical and horizontal dimensions,so as to put forward corresponding countermeasures and suggestions according to the problems analyzed It is not only a reference for the operation and development of sample Unicorn enterprises,but also a reference for other Unicorn enterprises.Based on the relevant research results at home and abroad,this paper chooses DEA as the main method of efficiency evaluation.In the empirical analysis,it chooses total assets and operating cost as the input index and operating income as the output index?B "correlation verification;combined with CCR and BCC model,the study found that in 2016-2018,the overall operating efficiency of listed Unicorn enterprises was low,only two enterprises had effective technical efficiency,and only two of the 19 enterprises had increasing efficiency value,which reflected the urgency of Unicorn enterprises to improve operating efficiency.Therefore,according to the efficiency evaluation results,this paper comes from theory to practice,and puts forward some suggestions according to the research results,in order to further enrich the research field.This paper is divided into five parts,the main contents are summarized as follows:The first part is the introduction.This part first discusses the research background,then summarizes the research significance of this paper from the theoretical and practical aspects,at the same time,discusses the research object and content of this paper,and finally determines the research ideas and methods of this paper,and points out the possible research innovation and shortcomings of this paper.The second part is literature review.This part combs the related research literature about Unicorn enterprise research and enterprise management efficiency evaluation from domestic and foreign dimensions,and comments on the existing research results,pointing out the basis of the topic selection and research methods.The third part is the theoretical basis.This part first analyzes the connotation of business efficiency,then compares and analyzes the current three main categories of business efficiency evaluation methods,and then defines DEA method as the data analysis method of this paper,which lays the theoretical and practical foundation for the research of this paper.The fourth part is empirical analysis based on DEA.In this part,firstly,the decision-making unit of DEA analysis is determined,and the fundamentals of the operation and development of 19 listed Unicorn companies are analyzed from the aspects of scale,income,main business and earnings per share;then,according to the research steps of DEA method,the input-output indicators are selected;at the same time,the operation efficiency evaluation models(CCR and BCC models)of Unicorn enterprises are determined;finally,from the horizontal perspective And make empirical research and analysis from two vertical angles to comprehensively evaluate the operating efficiency of each sample enterprise.The fifth part is conclusion,suggestion and prospect.According to the research in the previous chapters,this paper summarizes the research of this paper,summarizes the performance evaluation conclusions from the perspective of input-output index selection,horizontal and vertical,and finally puts forward corresponding strategies,and prospects the future research fields and directions.