Nowadays, eco-efficiency is one of the most widely used comprehensive indicators in many fields and sectors. Understanding eco-efficiency is of great significance to implement sustainable socioeconomic development for decision makers. To assess the comprehensive performance of industrial investment, the eco-efficiency of industrial investment (EEII) is constructed under the comprehensive perspective of economic benefits, energy consumption, and environmental impact in this paper. Then, a new superefficient undesirable-output slack-based measure DEA (SeUo-SBM-DEA) model is proposed and applied to assess the EEII of 30 provinces in China from 2015 to 2017, and its influencing factors are analyzed using the Tobit regression. The empirical results show the following: (1) the eco-efficiency of China’s industrial investment is generally low (0.613), and there exists a significant regional disparity; namely, the average value of EEII was the highest in the eastern regions (0.838), followed by the central regions (0.6) and western regions (0.397). (2) R&D expenditure, economic development level, and foreign direct investment all had a significant positive effect on the eco-efficiency of industrial investment, while investment in treatment of industrial pollution sources and total education funds all had a significant negative effect. Finally, this paper puts forward some suggestions to promote sustainable development of industrial investment based on our findings.
The operation process of the Chinese provincial industrial system consists of four stages, namely the production (P) stage, wastewater treatment (WWT) stage, solid waste treatment (SWT) stage, and sulfur dioxide treatment (SDT) stage. Based on this structure, a four-stage data envelopment analysis (DEA) model is developed to evaluate the eco-efficiency, production efficiency, wastewater treatment efficiency, solid waste treatment efficiency, and sulfur dioxide treatment efficiency of provincial industrial systems in China, considering the undesirable output and variable returns to scale (VRS). Based on the objective data from 2011 to 2015, the following conclusions are drawn: Firstly, the eco-efficiency of the Chinese provincial industrial system has not been significantly improved during the study period, and the average eco-efficiency score is low, only 0.3805. Secondly, the reasons for the low eco-efficiency of the industrial system are different in the Eastern, Central, Western, and Northeastern regions. Thirdly, compared with the P stage, industrial WWT stage, and SWT stage, the efficiency of SDT stage is still relatively weak.
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