引用本文:冉曦, 冉光和.担保企业风险承担对其企业效率的影响及治理对策[J].西南大学学报(自然科学版),2020,42(2):99~108
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担保企业风险承担对其企业效率的影响及治理对策
冉曦, 冉光和1,2
1. 重庆大学 公共管理学院/公共经济与公共政策研究中心, 重庆 400044;2.
2. 重庆大学 经济与工商管理学院, 重庆 400044
摘要:
在全社会都必须高度重视金融风险的背景下,厘清担保企业风险承担对其企业自身效率的影响至关重要.利用DEA-Tobit两步法,选取代表性的担保企业样本数据,在测算样本企业2014-2017年运行效率的基础上,实证检验了担保企业风险承担对其企业效率的影响.研究发现:样本期间担保企业的运行效率总体上呈现出先下降再上升的变动趋势,且不同担保企业的运行效率存在明显差异;无论是以担保代偿率、净资产放大倍数还是风险准备金覆盖率作为代理变量,担保企业风险承担对其企业效率均存在明显的负向影响,说明担保企业风险承担显著降低了企业运行效率.当前,担保企业必须增强抗风险能力,就此应该尽快转变经营模式,实现多元化经营,促进其运行效率有效提升和可持续发展.
关键词:  担保企业  风险承担  企业运行效率  DEA-Tobit
DOI:10.13718/j.cnki.xdzk.2020.02.013
分类号:
基金项目:中央高校基本科研业务费专项项目(106112016CDJXY010017);国家社科基金重大项目(11&ZD141);国家社科基金重点项目(17AJY020).
Effect of Risk-Taking of Guaranteed Enterprises on Their Efficiency and Countermeasures for Their Management
RAN Xi, RAN Guang-he1,2
1. School of Public Administration/Center for Public Economy and Public Policy Research, Chongqing University, Chongqing 400044, China;2.
2. School of Economics and Business Administration, Chongqing University, Chongqing 400044, China
Abstract:
Under the background that the whole society must attach great importance to financial risk, it is very important to clarify the influence of risk bearing of a guaranteed enterprise on its own efficiency. Using the DEA-Tobit two-step method, this paper selects the sample data from 2014 to 2017 of representative guaranteed enterprises in China and calculates their operation efficiency, and then an empirical test is made of the influence of risk-taking on their enterprise efficiency. The results show that in 2014-2017 the operation efficiency of the guaranteed enterprises generally showed a trend of "decrease first and then rise", and the guaranteed enterprises differed greatly in their operating efficiency. Whether guarantee reimbursement ratio, net assets magnification or risk reserve coverage is taken as proxy variables, the risk-taking of guaranteed enterprises has a significant negative impact on their efficiency, suggesting that risk bearing of the guaranteed enterprises has significantly reduced their operation efficiency. At present, guaranteed enterprises must strengthen their ability to resist risks, and so they should change their management mode as soon as possible, adopt a diversified management, effectively promote their operation efficiency and realize a sustainable development.
Key words:  guaranteed enterprise  risk-taking  enterprise operating efficiency  DEA-Tobit
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