基于(k,y)空间技术分解的企业投资效率评价

目前国内外企业层次上综合投资效率评价的研究还是一个未探索的领域,现有企业业绩评价方法没有将投资效率列为评价的内容,对企业发展能力的评价呈现出明显的不合理。本文在相关领域投资效率评价方法以及对投资效率内涵界定的基础上,总结投资效率评价基本出发点,利用技术效率评价在(k,y)空间的投影来建立企业层次上综合投资效率的评价方法。在(k,y)空间内,可以识别并分解企业资产技术和运营效率,能够有效跟踪企业资产及相应运营效率的变化。在此基础上建立的投资效率评价指标融合了目前宏观经济和微观具体项目投资效率评价方法,反映的是企业投资活动对其经营效率的带动作用,能够准确评价企业投资效率的真实业绩。

Investment Efficiency Evaluation Based on Technology Decomposition in(k, y)Space

Study of method for evaluating firm investment efficiency is an unexplored domain by now both at home and overseas,and there have been no items concerning investment efficiency evaluation in firm performance measurement method. Under such condition,firm development evaluation demonstrates obvious irrationality. After summarizing the basic principle in investment evaluation based on the evaluation methods and basic ideas in related fields,a method of investment efficiency evaluation at the firm level is presented in this paper based on technical efficiency evaluation established in (k,y) space. Here asset technology and operational efficiency of the firm can be identified,and firm labor productivity can be decom-posed into such two elements,which make it possible to trace the transition of the firm state from the view of asset technology and operational efficiency. Index of investment efficiency established on such information can identify the marginal effect of investment action on production efficiency,which combines the methods of investment efficiency evaluation used in macro economy and in micro concrete project,and can accurately evaluate the real performance in investment action.