CAJ | 학술논문

　　本文基于规模报酬可变的DEA-Tobit模型，利用中国60家新能源上市公司2006-2011年间的样本数据，分析了这一时期中国新能源上市公司技术效率变化状况及其影响因素。研究发现，这一时期新能源上市公司的技术效率总体状况良好，平均技术效率值为0.83，但在样本研究期间技术效率呈现下滑趋势，到2011年平均技术效率值为0.69。氢能和核能类上市公司技术效率要高于太阳能、生物质能和风能类上市公司的技术效率。第一大股东性质为国有法人的上市公司技术效率要低于第一大股东性质为非国有法人上市公司的技术效率，股权集中度与上市公司技术效率呈显著的正相关。
　　본문기우규모보수가변적DEA-Tobit모형，이용중국60가신능원상시공사2006-2011년간적양본수거，분석료저일시기중국신능원상시공사기술효솔변화상황급기영향인소。연구발현，저일시기신능원상시공사적기술효솔총체상황량호，평균기술효솔치위0.83，단재양본연구기간기술효솔정현하활추세，도2011년평균기술효솔치위0.69。경능화핵능류상시공사기술효솔요고우태양능、생물질능화풍능류상시공사적기술효솔。제일대고동성질위국유법인적상시공사기술효솔요저우제일대고동성질위비국유법인상시공사적기술효솔，고권집중도여상시공사기술효솔정현저적정상관。
Based on the DEA-Tobit model of the variable return to scale, this study analyzed the technical efficiency fluctua-tion and its affect factors of Chinese new energy listed companies, using the data of 60 new energy listed companies from 2006 to 2011. The research found that from 2006 to 2011 the average value of technical efficiency of the new energy listed companies is 0.83. During the sample study period, technical efficiency trended downward to the mean efficiency of 0.69 in 2011. The technical efficiency of Hydrogen energy and nuclear energy listed companies is higher than the technical efficiency of solar energy, biomass energy and wind energy listed companies. In this study we found that if the character of the first majority shareholder was stateown legal-person shareholder, the technical efficiency of the listed companies would be lower than that whose character of the first ma-jority shareholder was nonstateown legal-person shareholder. It meant the equity concentration showed a significant positive corre-lation with efficiency of listed company.