Research On Investment Efficiency Of Listed Companies In Automobile Manufacturing Industry Based On DEA

Investment is an important decision to promote economic development.Investment efficiency reflects the efficiency of resource allocation and utilization and affects the company’s market competitiveness.As the pillar industry of China’s national economy,the automobile manufacturing industry not only contains a huge industrial chain,but also creates a large number of jobs.The development of the industry helps to promote economic development,and listed companies in the automobile manufacturing industry have higher requirements for investment efficiency.However,due to the lack of professionalism and scientificness in the formulation of the company’s investment plan,and inadequate management and technical capabilities and investment scale,the investment needs cannot be met or the resources are not fully used.Over-and under-investment often occurs.Most listed companies in the automobile manufacturing industry have inefficient investment and low investment efficiency,which seriously affects the long-term development of the company and hinders its growth.Facing the inefficient investment phenomenon,it is necessary to evaluate and analyze the investment efficiency of listed companies in the automobile manufacturing industry.Based on the characteristics of the automobile manufacturing industry,this paper selects input indicators from the capital input and output indicators from the value creation aspect to construct an investment efficiency evaluation index system.After conditional screening,77 samples were obtained for investment efficiency research.The C2R and BC2 model and the super-efficiency DEA model were used to obtain the preliminary evaluation and re-evaluation ranking results of the investment efficiency of listed companies in the automobile manufacturing industry,and the reasons for the sample’s comprehensive invalidation were analyzed based on the preliminary evaluation results.From the perspectives of effective and ineffective samples,efficiency value distribution,and individual change trends,the overall analysis is performed on the results of comprehensive efficiency,pure technical efficiency,and scale efficiency to analyze the ineffectiveness of investments and the shortcomings of companies with lower efficiency values.The C2R model is used to perform a projection analysis on the overall sample,to obtain the improvement values and improvement ratios of various indicators of the companies that have not invested in each year,and to analyze the input redundancy and insufficient output.The listed companies in the automobile manufacturing industry are classified according to regions,property rights,and types,and based on the overall investment efficiency results,the investment efficiency results of each classification sample are obtained.The comprehensive efficiency,pure technical efficiency,and scale efficiency are classified and analyzed.Based on the overall analysis and classified analysis content of listed companies in the automobile manufacturing industry,the research conclusions are summarized,and suggestions for improving investment efficiency are finally put forward.