Multiple paths to optimize input-output efficiency of Chinese fishery listed companies: A composite study of Tobit and fsQCA

Against the background of global concern for aquatic product quality and safety, and for the sustainable development of fisheries, the operations and management of listed fishery companies are facing significant challenges, and the multidimensional optimization of input-output efficiency has become a key issue. This paper uses data envelopment analysis (DEA) and the Tobit regression model to assess the input-output efficiency and its influencing factors of A-share fishery listed companies from 2019 to 2023, and identifies multiple paths to high input-output efficiency using the fuzzy set qualitative comparative analysis (fsQCA) method. The results show that: (1)enterprise scale efficiency and comprehensive technical efficiency have not reached the production frontier and still have potential for improvement; (2)ESG performance and ownership concentration show a positive relationship with enterprise input-output efficiency, while return on equity, asset liability ratio and enterprise scale show a negative effect; (3)individual antecedents are not sufficient to constitute the necessary conditions for enterprises to improve input-output efficiency, and there are four combinations of paths to improve efficiency. The above conclusions are of practical significance for fishery enterprises to avoid risks and promote healthy, safe, and sustainable development.