Efficiency Evaluation And Its Influencing Factors Analysis Of Public-raising Foundations

In recent years,China’s philanthropy has developed rapidly,and the relevant laws and regulations are gradually improved,but it still can not get the public’s continuous trust.Donors are more concerned about which organizations can allocate materials more effectively.Charitable organizations are different from for-profit companies and enterprises.They are mission oriented.Their mission is to solve social problems or pursue public interests.Therefore,financial indicators such as net income and profit margin are useless to them.Their efficiency focuses on the social value that the organization can achieve through the distribution of donated materials.This paper selects the public fund-raising as the research object,through the study of its efficiency to provide reference for donors,at the same time to provide suggestions to improve the efficiency of public fund-raising.The traditional DEA model estimates the efficiency value from a limited sample and does not consider the problem of statistical test.As a result,the invalid decision-making units will be judged as effective units,and multiple efficiency values of 1 will be obtained,which can not accurately judge the effective order of these decision-making units.In order to overcome the above defects,this paper uses the bootstrap DEA model to analyze the static efficiency of China’s public funds from 2016 to 2018 The results show that:(1)The results show that there is a big gap between the efficiency of public funds in China and it is generally low;(2)The pure technical efficiency of public funds in China is higher than the comprehensive efficiency;Then we use Malmquist productivity index method to measure the dynamic efficiency of public funds.We find that the total factor productivity of public funds in China has improved,and technological progress is the main driving force.On the basis of efficiency calculation,this paper uses bootstrap truncated regression model to analyze its influencing factors,the results show that the type of public offering and the proportion of female directors have a significant positive impact on the efficiency of public offering foundation;Moreover,there are significant differences in influencing factors between national and local public funds: the comprehensive efficiency of national public funds is positively affected by the proportion of female directors and the number of special funds,while the comprehensive efficiency of local public funds is only significantly affected by the proportion of female directors.According to the conclusions,we can put forward specific suggestions for donors and foundations.For example,for donors,they can give priority to those foundations with high efficiency and relatively stable level to donate,while we can keep an eye on those foundations with low average efficiency but steady growth;For the foundation,according to its own situation,it should improve its pure technical efficiency or scale efficiency,and pay attention to technological progress,so as to improve its efficiency level.