Analysis of Governance Efficiency of Family Business Financing Structure Based on DEA Model
We conducted an empirical study on the governance efficiency of the financing structure of the 81 listed family companies in China based on DEA model. The results of research show that in eastern, central, and western areas, most family businesses do not reach DEA efficiency; the efficiency value of technological progress is relatively low, not realizing the scale economy. There are only 13 companies which completely achieved DEA efficiency of financing structure governance efficiency, accounting for 16.05 %.This indicates that the overall efficiency level of the listed family companies in China is worrying.
KeywordsFamily business DEA model Financing efficiency
The authors gratefully acknowledge the Projects supported by the National Natural Science Foundation of China (70973035), by the Humanities and Social Sciences Youth Foundation of the Ministry of Education of China (12YJC630325), by the Humanities and Social Sciences Planning Foundation of the Ministry of Education of China (11YJA630124), by the Provincial Social Science Foundation of Hunan (08JD37), and by the Provincial Social Science Foundation of Hunan (09YBB150).
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