CAJ | 학술논문

选取国内民航上市公司年报数据，运用超越对数成本函数测算出2002年－2012年各公司技术效率和规模效率。再利用静态面板模型研究民航企业兼并重组和加入国际联盟等市场化行为对企业经营绩效的影响。研究结果表明，中国民航企业还没有达到最小有效规模；提高技术效率能显著改善绩效；在宏观环境波动下，企业兼并重组显著提高绩效，但加入国际联盟不能显著改善绩效。政府应当提倡民航企业间进行以市场为导向的重组，并且支持企业海外并购。
선취국내민항상시공사년보수거，운용초월대수성본함수측산출2002년－2012년각공사기술효솔화규모효솔。재이용정태면판모형연구민항기업겸병중조화가입국제련맹등시장화행위대기업경영적효적영향。연구결과표명，중국민항기업환몰유체도최소유효규모；제고기술효솔능현저개선적효；재굉관배경파동하，기업겸병중조현저제고적효，단가입국제련맹불능현저개선적효。정부응당제창민항기업간진행이시장위도향적중조，병차지지기업해외병구。
The paper selects the data from the annual report of domestic civil aviation listed companies,and estimates each company’s technical efficiency and scale efficiency during the year 2002 -2012 by using the logarithmic cost function.On this basis,we apply static panel data model to estimate how the market behaviors,such as merger and reorganization,and affiliation of the international alliance among civil aviation companies,have impact on their business performance.The re-sults show that,Chinese civil aviation companies have not yet reached the minimum efficient scale;to improve technical ef-ficiency can significantly enhance performance;under the macro environment fluctuations,the merger and reorganization within companies can significantly enhance performance,while joining the international alliance cannot achieve it.The gov-ernment should advocate market -oriented merger and reorganization within civil aviation companies,and even support their overseas acquisitions.