Management efficiency of Chinese toll road operating companies and influencing factors

This study measured the management efficiency of Chinese toll road operating companies and examined the influencing factors from the internal input and external policy dimensions. The results revealed that the management efficiency of operating companies was low and that listed toll road companies (LTRCs) were generally more efficient than wholly state-owned toll road companies (STRCs). Levels of utilization in different production inputs varied among the operating companies, with LTRCs being better at exploiting the advantages of all production inputs. Macro-industrial policies affected management efficiency by changing the use of production input factors.