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The market performance evaluation of Chinese water industry and its determinants |
ZENG Xian-gang |
School of Environment and Natural Resources, Renmin University of China, Beijing 100872, China |
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Abstract Based on the DEA approach and market structure-behavior-performance analysis framework, this paper evaluates the market performance of Chinese water industry by using the panel data from 63 water enterprises, and analyzes its determinants by employing a Tobit model. The results show that the overall efficiency of the industry was not high. The pure technical efficiency and scale efficiency of some enterprises were all very low. The relative performance of enterprises was quite different. From the pure technical efficiency analysis, the water enterprises in China have different levels of redundancy, especially R&D investment average redundancy rate was the highest, indicating that water companies were too dependent on the purchase of external patents, independent innovation ability was poor. Fixed asset redundancy rate was higher, indicating that the water equipment operating rate was low, the idle rate was higher. From the scale of efficiency analysis, most enterprises were in the stage of increasing scale, but there were a few companies reached the stage of scale decline. And the number of service cities, water price, displacement and enterprise efficiency were a positive correlation, the proportion of state-owned shares, government subsidies, COD emissions and enterprise efficiency are a negative correlation.
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Received: 12 December 2017
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