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The Company Governance and Its Efficiency Pesearch Based on DEA Method

Liu Wenhu  
Based on the essential function of the corporate governance and its final purpose,from a view of input and output,this paper constructs a mathematical model which characterizes the company management process,and tries to evaluate the efficiency of the corporate governance of listed company by use of DEA method.The efficiency value can assess differences in the levels of corporate governance of listed company.With Shanghai and Shenzhen a-share listed companies as samples,using the data from 2007 to 2011,this paper carried out an empirical test.The result is that: the efficiency value of the corporate governance of listed companies shows initially going-down but then going-up trend from 2007 to 2011;the industry with the highest and the steadiest corporate governance level is wholesale and retails;the industry of the lower corporate governance level is the communication,cultural industry and social service industry.In a word,the overall level of corporate governance is low;the number of relatively efficient companies is low;the fluctuation of the efficiency value of corporate governance is relatively large.
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