Study on the operating efficiency and influencing factors of listed companies in China’s nonferrous metal mining and beneficiation industry based on DEA-Tobit model

In order to study the operating efficiency and influencing factors of listed companies in China’s nonferrous metal mining and beneficiation industry, this paper uses the panel data of listed companies in China’s nonferrous metal mining and beneficiation industry from 2014 to 2019 and uses the DEA method to calculate the technical efficiency, pure technical efficiency and scale efficiency of listed companies in China’s nonferrous metal mining and beneficiation industry.The Tobit model is introduced to analyze the main factors affecting enterprise efficiency.The results show that the comprehensive efficiency of most listed companies in China’s nonferrous metal mining and dressing industry is at a good level, but there is still much room for improvement.The average value from 2014 to 2019 is 0.753, and most of them are already in the decline of scale effect.At the same time, capital intensity, enterprise scale and total asset turnover positively affect the operating efficiency of listed companies in nonferrous metal mining and beneficiation industry.Based on this, the paper puts forward policy suggestions that China’s non-ferrous metal mining and beneficiation listed companies need to improve their business efficiency from the aspects of fine management, taking the road of high-quality development and optimizing the investment structure.