Evaluation and Influence of Chinese Enterprises' Financial Efficiency Based on the Malmquist Index

Table 1

Financial efficiency of industrial enterprises in various provinces in China.

Provinces	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	Average value
Beijing	2.652	3.187	3.182	4.199	4.231	4.326	4.273	5.124	5.542	5.987	5.940	5.652	6.318	4.663
Tianjin	1.891	2.224	1.839	2.564	3.165	3.231	3.047	3.346	3.495	3.255	3.642	3.537	3.604	2.988
Hebei	0.875	1.064	1.110	1.380	1.711	1.759	1.895	1.874	1.864	1.993	2.124	2.456	2.544	1.742
Shanxi	0.541	0.600	0.557	0.793	1.138	1.048	1.049	0.986	0.835	0.879	0.890	1.214	1.059	0.891
Inner Mongolia	0.816	1.028	1.289	1.896	2.579	2.288	2.191	1.876	1.844	2.026	2.578	2.811	2.656	1.991
Liaoning	0.805	1.064	1.143	1.452	1.734	1.882	2.037	2.014	1.659	1.294	1.573	1.784	1.652	1.546
Jilin	0.832	0.879	0.938	1.144	1.498	1.630	1.821	1.924	1.933	2.092	2.318	2.643	3.148	1.754
Heilongjiang	1.739	2.044	1.011	1.453	1.644	1.471	1.330	1.240	1.114	1.137	1.454	1.573	1.603	1.447
Shanghai	1.355	1.623	1.573	2.428	2.198	2.153	2.494	2.860	2.914	3.562	3.626	4.200	3.694	2.668
Jiangsu	1.192	1.514	1.664	2.599	3.230	3.496	3.940	4.487	4.803	5.242	4.970	4.499	4.504	3.549
Zhejiang	1.079	1.242	1.296	1.543	1.636	1.668	1.837	1.952	2.014	2.328	2.106	2.283	2.698	1.822
Anhui	0.706	0.793	0.812	1.033	1.316	1.289	1.436	1.541	1.631	2.144	2.217	2.038	2.113	1.467
Fujian	0.898	0.920	0.911	1.072	1.282	1.204	1.193	1.390	1.460	1.863	2.055	2.241	2.789	1.483
Jiangxi	0.936	0.931	0.976	1.160	1.296	1.348	1.503	1.699	1.671	1.915	1.766	1.902	1.954	1.466
Shandong	3.571	4.288	4.963	6.222	7.317	8.148	8.742	9.304	9.097	9.131	9.488	8.558	8.099	7.456
Henan	1.075	1.098	1.125	1.524	1.767	1.636	1.784	1.979	1.976	2.144	2.084	2.544	2.516	1.789
Hubei	0.624	0.738	0.763	1.106	1.407	1.336	1.562	1.629	1.804	1.997	2.044	2.212	2.056	1.483
Hunan	0.849	0.876	0.900	1.061	1.336	1.235	1.379	1.435	1.536	1.993	2.329	1.969	2.082	1.460
Guangdong	1.872	1.742	2.285	3.296	2.972	2.704	3.067	3.708	4.155	4.556	4.039	4.379	4.845	3.355
Guangxi	0.712	0.769	0.777	0.878	1.070	1.116	1.306	1.444	1.556	1.678	1.919	2.190	2.461	1.375
Hainan	0.897	0.899	0.875	0.901	1.012	1.121	1.134	1.214	1.235	1.345	1.469	1.504	1.625	1.172
Chongqing	0.736	0.777	0.761	0.863	1.024	0.959	1.130	1.289	1.447	1.935	2.049	1.783	1.814	1.274
Sichuan	0.662	0.707	0.804	0.982	1.244	1.389	1.404	1.519	1.603	1.804	1.815	2.028	2.153	1.393
Guizhou	0.646	0.707	0.660	0.710	0.791	0.863	1.002	1.060	1.152	1.347	1.426	1.617	1.711	1.053
Yunnan	0.663	0.733	0.741	0.875	1.044	1.019	1.141	1.205	1.224	1.340	1.329	1.501	1.499	1.101
Shaanxi	0.807	1.143	0.916	1.620	2.130	2.115	2.074	1.872	1.574	1.789	2.518	2.863	2.625	1.850
Gansu	0.710	0.685	0.657	0.822	1.242	1.275	1.450	1.380	1.306	1.313	1.548	1.636	1.665	1.207
Qinghai	1.092	1.237	2.406	1.911	2.196	3.989	2.581	5.539	2.631	3.801	4.429	3.775	2.958	2.965
Ningxia	1.893	2.183	1.647	1.251	1.248	1.077	1.249	1.279	1.326	1.512	1.519	1.604	1.539	1.487
Xinjiang	1.775	1.861	1.149	1.923	2.143	1.729	1.621	1.495	1.324	1.359	1.398	1.678	1.453	1.608
Average value	1.163	1.319	1.324	1.689	1.953	2.017	2.089	2.322	2.258	2.492	2.622	2.689	2.715	2.050