Productive Efficiency and Its Influencing Factors of Wine-making Firms in China——A Research Based on DEA-Tobit Approach

Based on DEA-Tobit approach,the paper analyzes the productive efficiency and its influencing factors of the 22 listed wine-making firms in China from 2004 to 2007.Furthermore,based on the nonparametric DEA-Malmquist Productivity Index,the paper also evaluates the efficiency change of the wine-making firms.The findings demonstrate that during the period the technical efficiency of the wine-making firms is on the low level,but it also shows a rising trend in general,except that in 2007 the efficiency to a great extent declines.Second,both the average total factor productivity(TFP) and the TFP in every year during the period show a rising trend to some different extent,and both of them are greatly due to the technical progress of the wine-making industry.Finally,the total asset turnover ratio,the proportion of technical personnel and the per capital are significantly and positively correlated to the productive efficiency of the wine-making firms,but the firm scale is not significantly positive correlated to the productive efficiency of the wine-making firms.