The impact of trade scale, agency cost and ownership structure on China's foreign-trade enterprises

摘要

Based on the sample of International-trade listed corporations, this paper builds the SFA(Stochastic Frontier Analysis) model and makes an empirical analysis on the technical efficiency of China's foreign trade enterprises. As is indicated in the result, the technical efficiency of China's foreign trade enterprises is extremely low. Besides, ownership structure poses a positive impact on the efficiency, trade scale does a negative impact, and agency cost has nothing to do with the technical efficiency.