The Study on the Technical Efficiency of the Listed Coal Companies

This paper analyses China's listed coal companies based on Tobit-DEA model. DEA model results show that these companies have low technical efficiency level, containing the high scale efficiency and low pure technical efficiency. Then dig the factors to the pure technical efficiency and scale efficiency with Tobit regression model, and the result shows the increasing of management fee rate and debt capital ratio of technical efficiency has some negative effects, and the increasing of sales rate, asset turnover and P/E ratio is beneficial to technical efficiency. Then analyzes the possible reasons for these results and gives suggestions.