IDEAS home Printed from https://ideas.repec.org/a/eme/ijoemp/ijoem-02-2020-0188.html
   My bibliography  Save this article

Research on financing efficiency of China's strategic emerging industries based on super efficiency DEA and tobit model

Author

Listed:
  • Xiangyuan Chen
  • Ying Wang

Abstract

Purpose - The purpose of this research is to explain the financing dilemma of China's strategic emerging industries and improve their financing efficiency, seize the commanding heights of economic science and technology to provide theoretical support. Design/methodology/approach - This paper selects the companies listed under strategic emerging industry during the period of 2010–2017 as the research object and used the data envelopment analysis method (DEA) to evaluate the financing efficiency of China's strategic emerging industries and selects the tobit analysis method to find out the factors affecting its financing efficiency. Findings - The results show that the average financing efficiency of listed companies in strategic emerging industries between 2010 and 2017 is 0.7792, and the level of financing efficiency of strategic emerging industries is still at a low level. Among them, the bio-pharmaceutical industry and the energy-saving and environmental protection industry have the highest comprehensive level, and the high-end equipment manufacturing industry and the new energy industry have the lowest level of financing efficiency. Among the factors affecting the financing efficiency of strategic emerging industries, the asset-liability ratio, financial expenses and cash ratio and financing efficiency are negatively correlated, and the net asset income is positively correlated with the growth rate of the main business income. Originality/value - This paper measures the financing efficiency of China's strategic emerging industries, then explores the influencing factors of the financing efficiency of strategic emerging industries and tries to provide important reference values for the improvement of the financing efficiency of China's strategic emerging industries at a practical level.

Suggested Citation

  • Xiangyuan Chen & Ying Wang, 2020. "Research on financing efficiency of China's strategic emerging industries based on super efficiency DEA and tobit model," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 17(2), pages 485-504, October.
    • Handle: RePEc:eme:ijoemp:ijoem-02-2020-0188
    DOI: 10.1108/IJOEM-02-2020-0188
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/IJOEM-02-2020-0188/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/IJOEM-02-2020-0188/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/IJOEM-02-2020-0188?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:ijoemp:ijoem-02-2020-0188. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.