基于DEA-Tobit两阶段模型的基金绩效评价及影响因素研究

摘要

应用DEA-Tobit两阶段模型对基金绩效评价及影响因素研究,以分析基金实施的成效.利用DEA模型得到相对效率值对基金绩效进行评价,利用Tobit模型根据DEA效率值分析基金绩效的影响因素,进行实证研究,以验证DEA-Tobit两阶段模型的使用效果.研究结果显示,2006-2013年期间创新基金项目绩效呈现增长趋势,创新基金对科技型中小型企业具有促进作用.研究结果表明,DEA-Tobit两阶段模型可以快速、高效地应用于基金的绩效评价及影响因素分析.%DEA-Tobit two-stage model was applied to study the fund performance evaluation and its influencing factors so as to analyze the implementation effect of fund.The relative efficiency value was gained by DEA model to evaluate fund performance.Meanwhile, Tobit model was utilized to analyze the influencing factors of fund performance according to DEA efficiency value.An empirical research was made to verify the use effect of DEA-Tobit two-stage model.The research results show that creative fund project performance presents a rising trend in 2006-2013, and creative fund can promote small and medium enterprises based on science and technology.The results indicate that the DEA-Tobit two-stage model can be quickly and efficiently applied to the fund performance evaluation and analysis of its influencing factors.