Research On The Operating Efficiency Of China’s Advertising Listed Companies And Its Influencing Factors

In the age of digital marketing,companies have shifted from purchasing media to purchasing target audiences.Advertisers in the upstream of the advertising industry chain are progressively transferring their budgets from traditional media to digital companies,and some advertisers even build their own digital marketing teams.Advertising companies are facing the challenge of disintermediation.With the constant advancement of technology,the infiltration of capital,the shift in media patterns,and the expansion of worldwide advertising groups,the survival and management of advertising organizations have become extremely difficult.How to improve the operating efficiency of advertising companies and support the high-quality development of the advertising industry has become a critical research topic in the sector.By gathering and categorizing available literature,it is found that there is little research on the advertising sector.The study of advertising listed company focuses on listing and mergers and acquisitions,industrial structure transformation,development mode exploration.Qualitative research methods are mostly adopted in the article.At the same time,many articles about the cultural industry include descriptions of some advertising listed companies.On the whole,there is little research on the operating efficiency of advertising listed companies.With the increasing importance of the advertising industry in economic development,the high-quality development of the advertising industry is becoming more and more important.Advertising listed companies are in a unique position in China’s small,scattered and weak advertising industry pattern,shouldering the mission of high-quality development of the advertising industry.It is of great significance to study their operating efficiency and influencing factors.In this article,20 Chinese advertising listed companies are used as samples.The DEA method is used to evaluate the static efficiency and dynamic efficiency of the selected companies based on annual report data disclosed from 2017 to 2021.In the study,the number of employees,total assets,and main business cost are taken as input indicators,and main business income and net profit are taken as output indicators.Based on the research experience of other industries,Tobit regression analysis is carried out on the influencing factors of operating efficiency of the advertising listed companies.Overall,the operating efficiency of advertising listed companies is better,and the efficiency of input and output is relatively high.There is a significant difference between the companies,and the stability of the company’s operating efficiency needs to be improved.According to the result of Malmquist index method,technological progress has made a significant contribution to the improvement of total factor productivity.The empirical analysis of the factors affecting the company’s operating efficiency is found:The company size and operating cost rate are significantly negatively correlated with the company’s operating efficiency.The per capita output value and supplier concentration ratio are positively correlated with the company’s operating efficiency.The equity concentration ratio and government support have no significant impact on the company’s operating efficiency.Based on the current operating efficiency of advertising listed companies,advertising listed companies need to prudently expand the size of the company and invest capital in higher yield businesses.At the same time,the companies need to strengthen technological innovation and constantly improve the company’s operating level,management level and service level to achieve a steady improvement in operating efficiency.