中国旅游上市公司全要素生产率研究

旅游上市公司是旅游业发展的微观主体,其全要素生产率全面反映了该行业的实际经营效率和发展趋势。本文基于Malmquist指数探讨了20家中国旅游上市公司2004-2009年的全要素生产率。Malmquist指数及其分解结果显示:中国旅游上市公司Malmquist指数年均增长率为-0.4%,其中纯技术效率的增长显著,年均增幅为1.3%;时间跨度层面,中国旅游上市公司的全要素生产率的年度波动性较大。此外,样本中旅游上市公司Malmquist指数与营业收入增长率未能兼顾;2008-2009年度粗放型增长的特征显著。

Research on Total Factor Productivity of Chinese Tourism Listed Companies

Tourism listed companies are the micro-units of tourism industry.Companies’ Total Factor Productivity reflects the actual operating efficiency and developing trends of the industry.Twenty tourism listed companies in 2004-2009 were studied using Malmquist index in this paper.Results show that: Malmquist index of Chinese tourism listed companies annual growth by-0.4%,there,the growth of pure technical efficiency is significantly,the average annual increase is1.3%;in the level of time,total factor productivity of Chinese tourism listed companies volatility is significantly.In additionally,the sample of listed companies failed to take revenue growth and Malmquist index both into account;extensive growth characteristics between 2008 and 2009 are significantly.