摘要
随着主要大型钢铁企业相继成功上市,中国钢铁产业开始走向由"大"变"强"之路。现代公司治理中的决策与激励机制,在中国钢铁行业上市公司中如何表现,并对企业的生产效率产生怎样的影响,本文采用随机前沿法(SFA)对28家主要的钢铁行业上市公司进行实证分析得出,整体技术效率水平中等偏上。同时,建立以公司治理结构变量为核心的技术无效率影响模型得出,当前富有激励性的制度安排与相对集权的决策方式对提升钢铁行业上市公司的生产效率具有积极作用。
Since the major Chinese iron and steel companies have been listed on stock markets successfully, China＇s iron and steel industry tends to be stronger rather than bigger. The paper intends to make research on how decision-making and incentive mechanism affect production efficiency. We apply Stochastic Frontier Analysis （SFA） to analyze the production efficiency of 28 major iron and steel companies listed on China＇s stock markets. Then, we come to the conclusion that the overall production efficiency is at middle plus level. Meanwhile, we make an inefficiency model which is based on corporate governance variables in order to consider the effects of decision-making and incentive mechanism. In the end, the paper points out some suggestions for further reform of China＇s iron and steel industry.
出处
《财经论丛》
CSSCI
北大核心
2009年第3期86-91,共6页
Collected Essays on Finance and Economics
基金
南开大学文科科研创新基金资助项目(NKC0852)
关键词
钢铁行业
上市公司
生产效率
公司治理结构
iron and steel industry
listed companies
production efficiency
corporate governance
作者简介
白雪洁（1971-），女，蒙古族，内蒙古通辽人，南开大学经济与社会发展研究院产业经济研究所教授；
张东崴（1983-），女，河北唐山人，南开大学经济与社会发展研究院产业经济研究所硕士生。
