Empirical Analysis of Cultural Industry’s Listed Companies in China ——Based on the Application of DEA-Tobit Approach

By using the DEA-Tobit model, this paper analyzes operational efficiency and the influencing factors of 38 cultural industry’s listed companies in the year of 2010. Results show that: the scale inefficiency is the main cause of the operational inefficiency; great majority of the listed companies are decreasing returns to scale, an improving operational efficiency should not only focus on increasing the capacity of the integration of resource but also on the investment of resources; asset size, asset turnover ratio, and ratio of profits to cost have significantly impacts on operational efficiency; ownership concentration, the listed years, and the number of subsidiary have negative influences on operational efficiency, but not significantly