Calculation and analysis of 4D total factors productivity of coal company in the background of resource integration

In order to improve the efficiency and sustainability of coal industry, China has made great efforts in production reduction and resources consolidation.To verify the results, this article constructs four-dimensional indicators, namely operational efficiency, safety efficiency, environmental efficiency, and sustainability efficiency, to reflect the total factor productivity of coal industry.Using data from 2008 to 2016 of listed coal companies, 4D total factor productivity is calculated and the results show that the consolidation reform has significantly improved the safety, environmental and sustainability performance of the coal industry.But operational efficiency has declined, mainly due to the decline in the technological progress index.In order to further enhance the quality of resource integration and the efficiency of coal industry, both the government and the market should play important roles in the process.Institutional innovation is important and the implementation of safety and environmental regulation should be strengthen, and enterprises should be encouraged to explore new market model in mergers and acquisitions; we should not rely solely on the scale advantage,but on the technological innovation in coal companies.