Research Article
The Evaluation of Financing Efficiency of China’s Stock Market
Table 11
TFP of China’s stock market from 2004 to 2014.
| | Year | Comprehensive technical efficiency | Technical
change | Pure technical efficiency | Scale efficiency | Total factor productivity (TFP) |
| | 2004 | 1 | 0.797 | 1 | 1 | 0.797 | | 2005 | 1 | 0.515 | 1 | 1 | 0.515 | | 2006 | 1 | 3.434 | 1 | 1 | 3.434 | | 2007 | 1 | 2.075 | 1 | 1 | 2.075 | | 2008 | 13 | 0.334 | 1 | 1 | 0.334 | | 2009 | 1 | 1.563 | 1 | 1 | 1.563 | | 2010 | 1 | 1.05 | 1 | 1 | 1.05 | | 2011 | 1 | 0.607 | 1 | 1 | 0.607 | | 2012 | 1 | 0.855 | 1 | 1 | 0.855 | | 2013 | 1 | 0.965 | 1 | 1 | 0.965 | | 2014 | 1 | 1.246 | 1 | 1 | 1.246 |
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