Research On Financing Efficiency Of Listed Companies In Education Industry And Its Influencing Factors

China’s consumption structure is constantly upgraded,the needs of residents are constantly personalized,and the products of the education industry are increasingly diversified.At the same time,because of the particularity of education as a quasi-public product,it has not been marketized for a long time,and residents’ personalized demand does not match the supply,and the contradiction between supply and demand is increasingly prominent.In recent years,with the support of national policies and the development of science,private educational enterprises have been increasing.At the same time,many education enterprises blindly expand their territory,blindly carry out financing,ignoring the effectiveness of the use of funds and the improvement of their own management level.Problems such as the management level,financing scale and financing efficiency of the education industry all need to be solved urgently.Based on this,this paper intends to analyze the financing efficiency and its influencing factors of China’s education industry at the present stage through literature review and empirical analysis,and on this basis,it can provide some suggestions to improve the financing efficiency.In this paper,the status quo of the education industry is expounded,and then the data envelopment method is used for empirical analysis.This paper selects the panel data of44 education concept enterprises in Shanghai and Shenzhen stock markets from 2016 to 2019,uses DEAP2.1 software and DEA-BCC and DEA-Malmquist models to analyze the efficiency level.Finally,it uses Tobit model to analyze the factors affecting the financing efficiency of listed companies in the education industry,and finally finds that,First,the overall financing efficiency level of listed companies in China’s education industry is low at this stage,and the financing efficiency level tends to decline.Second,some listed companies blindly expand the scale,input-output mismatch;Third,although the internal management level of listed companies in the education industry has been continuously improved,it still falls short of the ideal development state.Finally,based on the previous analysis,this paper tries to put forward some suggestions on the financing efficiency of the existing listed companies in the education industry.First of all,from a macro perspective,the government should give policy support to small and medium-sized education enterprises,and the education industry should play the role of industry association to guide enterprises to avoid blind marketing and homogenized competition.Secondly,from the perspective of enterprises,enterprises should improve their fund utilization efficiency,profitability,development ability and innovation level,and avoid blindly pursuing the expansion of scale.Finally,from the perspective of practitioners,it is necessary to improve personal quality and sense of responsibility,inject innovation into the development of the education industry,and provide the right decision for the flow of funds.Finally,multi-party cooperation will make the education industry burst new vitality.