Evaluation of mismatch effect of financing structure based on data envelopment analysis
Data envelopment analysis is used to assess the mismatch effect of the financing structure of 26 listed companies in Chinaâ€™s information technology industry from 2009 to 2016. The reasons for the change in efficiency are analysed through a decomposition of efficiency. The results show that the financing structure of listed companies in Chinaâ€™s information technology industry is generally slightly mismatched, with problems of excessive financing and insufficient investment. Moreover, the financing structure is gradually deteriorating and the non-efficient financing is gradually increasing. It is suggested that the IT industry should reduce debt financing, enhance the operation capacity, and strengthen investment decision-making to alleviate an investment shortage.
Keywords: Data envelopment analysis, Financing structure, Listed companies, Mismatch effect
S. Li, "Evaluation of mismatch effect of financing structure based on data envelopment analysis",
Engineering Intelligent Systems, vol. 26 no. 2-3, pp. 57-64, 2018.