基于DEA的证券公司经营效率的实证分析

An Empirical Analysis of DEA on the Efficiency of China's security companies

选取2007-2010年期间36家创新类证券公司的数据,采用数据包络分析(DEA)研究证券公司的经营效率,包括静态的比较分析和动态的持续性分析。结果显示,我国证券公司总体来说效率不高,多数证券公司的运营处于低效率状态,并且各证券公司的生产效率存在着严重的两极分化现象。规模对证券公司的效率并没有显著影响,纯技术效率是决定证券公司技术效率的关键因素。

Choosing 36 innovative security companies during 2007 -2010 as the samples, the paper does both stationary analysis and dynamic analysis to evaluate the operational efficiency of security company based on DEL. It points out that the efficiency of China＇ s security companies is unsatisfactory. The difference existing in different security companies is remarkable. Scale has no obvious influence on the efficiency of security company. Pure technical efficiency is the key variable.