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本文利用2000—2015年沪深A股市场24家主营业务为火力发电上市公司的年度面板数据,利用Malmquist指数方法,研究了该企业群组的全要素生产率及其增长率。研究结果表明,火电上市公司全要素生产率总体呈现比较明显的逐年递减趋势。构成全要素生产率来源的分解因素中,火电上市公司的技术进步呈现比较明显的负增长状态,是导致全要素生产率明显负增长的根本原因。同时,火电上市公司的综合技术效率总体上呈现逐年微弱递增趋势,纯技术效率则呈现微弱的逐年递减趋势。规模效率略微增长,但并不显著。
This paper uses the annual panel data of 24 listed companies in the Shanghai and Shenzhen A-shares market from 2000 to 2015 as the thermal power generation listed companies, and uses the Malmquist index method to study the total factor productivity and growth rate of this group of companies. The research results show that the total factor productivity of the listed companies of thermal power companies shows a definite trend of declining year by year. Among the decomposition factors that make up the sources of total factor productivity, the technological progress of listed companies in thermal power industry shows a relatively negative growth state, which is the root cause of the apparent negative growth of total factor productivity. At the same time, the overall technical efficiency of listed companies in thermal power shows a gradually increasing trend year by year, and pure technical efficiency shows a faint trend of year-by-year decline. The scale efficiency slightly increases, but it is not significant.