中国金融信托业经营效率评价——基于20家信托公司2004—2008年的经验数据

Evaluation on Operating Efficiency of Trust Industry in China:Based on Experience Data of 20 Trust Companies During 2004-2008

本文通过将Monte-Carlo模拟理论、结构方程模型理论和三阶段DEA模型理论相结合,选取效率评估指标和环境变量指标,测算了剔除环境变量和随机误差项对经营绩效的影响后的我国20家信托公司2004—2008年经营的真实效率。结果显示:我国金融信托业的真实效率不仅主要受配置效率的影响,还受环境因素和随机误差项的影响,从而验证了环境变量和随机误差对我国金融信托公司经营的真实效率的测算结果存在较大影响的假设。

Based on Monte-Carlo simulation theory,structural equation model theory and three-stage DEA model theory,this paper selects reasonable and effective efficiency evaluation indexes and the variable of environment index to estimate real efficiencies of 20 trust companies in China from 2004 to 2008 which eliminates the influences of environmental variable and random error variable.The result shows that real efficiency of China＇s trust industry is influenced not only by allocation efficiency but also by environmental factors,which verifies the hypothesis that environment variable and random error play a great role on real efficiency of China＇s financial trust companies.