CAJ | 학술논문

中国高科技创业企业的发展一直备受关注。鉴于创业企业的低存活率以及高科技企业的高投入和高风险等特征，对高科技创业企业的运营效率进行测度和评价具有重要的理论意义和现实意义。综合基本DEA效率评价模型及改进竞争型DEA交叉效率模型，以企业的技术创新、广告投入、品牌价值等若干高科技企业的重要运营指标作为评价指标，对中国不同地区的高科技创业企业的运营效率进行评价，并对各地区非DEA有效的高科技创业企业投入冗余和产出不足情况进行分析。研究结果表明，中国高科技创业企业整体运营效率偏低，不同地区的运营效率存在一定差异；绝大多数高科技创业企业呈规模收益递增，符合创业企业高成长性的特征；各地区高科技创业企业均存在显著的科研投入冗余，且对企业品牌资产重视不足；投入产出结构不合理是造成企业规模效率不高的主要原因。针对这些问题给出相应的政策建议。
중국고과기창업기업적발전일직비수관주。감우창업기업적저존활솔이급고과기기업적고투입화고풍험등특정，대고과기창업기업적운영효솔진행측도화평개구유중요적이론의의화현실의의。종합기본DEA효솔평개모형급개진경쟁형DEA교차효솔모형，이기업적기술창신、엄고투입、품패개치등약간고과기기업적중요운영지표작위평개지표，대중국불동지구적고과기창업기업적운영효솔진행평개，병대각지구비DEA유효적고과기창업기업투입용여화산출불족정황진행분석。연구결과표명，중국고과기창업기업정체운영효솔편저，불동지구적운영효솔존재일정차이；절대다수고과기창업기업정규모수익체증，부합창업기업고성장성적특정；각지구고과기창업기업균존재현저적과연투입용여，차대기업품패자산중시불족；투입산출결구불합리시조성기업규모효솔불고적주요원인。침대저사문제급출상응적정책건의。
Hi-tech startups have always been much concerned. According to the low-survival rate of startups and high-investment and high-risk features of the hi-tech enterprises, measuring and evaluating the operational efficiency for hi-tech startups has great theoretical and practical significance. Combining the basic DEA efficiency-evaluating model and the improved aggressive DEA- based cross-efficiency model, this study selects operational indicators for hi-tech startups such as technology innovation, advertis- ing cost, and brand value as core evaluation indices. We evaluate the operational efficiencies of Chinese hi-tech startups and ana- lyze the input redundancy and output deficiency of DEA-inefficiency hi-tech startups in different regions. The results show that： ①the operational efficiencies of Chinese hi-tech startups are low in general and differ in various regions; ②most hi-tech startups have an increasing return to scale, which is in accord with the characteristic of high-growth of startups; ③hi-tech startups in all regions have significant redundancy in R＆D input and undervalue their brand equity; and ④the unreasonable frame in input-out- put of hi-tech startups is the main reason of their low scale efficiency. We also propose policy recommendations corresponding to these problems.