中国证券业效率及其影响因素研究——基于产出导向距离函数的随机前沿分析

发布时间：2018-04-06 03:30

本文选题：技术效率　切入点：产出导向距离函数　出处：《南方经济》2017年01期

【摘要】：文章采用基于产出导向距离函数的随机前沿分析方法研究了2007-2015年95家中国证券公司的技术效率及其影响因素。这一方法具有一些优势:(1)能处理多产出系统;(2)测度技术效率和分析技术效率的影响因素同步进行,为"一步法";(3)考虑了随机因素的影响。研究结果表明:(1)证券公司前三大股东的持股比例与技术效率之间呈倒U型关系;(2)2007~2015年间证券公司的技术效率总体上是上升趋势;(3)市场竞争度与证券公司的技术效率显著正相关;(4)国内生产总值实际增长率与证券公司的技术效率显著正相关;(5)证券公司的总资产、成本管理能力以及资产负债率与技术效率显著正相关。最后文章给出了提升证券公司技术效率的一些建议。
[Abstract]:This paper studies the technical efficiency and its influencing factors of 95 Chinese securities companies from 2007 to 2015 by using the stochastic frontier analysis method based on the output oriented distance function.This method has some advantages: 1) it can deal with multi-output system / / 2) the influence factors of measuring technical efficiency and analyzing technical efficiency are carried out synchronously, and the influence of random factors is considered for "one-step method".The research results show that the proportion of the top three shareholders of the securities company is inversely U-shaped relationship with the technical efficiency. The technical efficiency of the securities company in general is an upward trend from 2007 to 2015.) the degree of market competition and the technical efficiency of the securities company are similar to those of the securities company.The real growth rate of GDP and the technical efficiency of securities firms are significantly positively correlated with the total assets of securities companies,Cost management ability and asset-liability ratio are significantly positively correlated with technical efficiency.Finally, some suggestions are given to improve the technical efficiency of securities companies.
【作者单位】：山东大学管理学院;
【基金】：韩国高等教育财团2015-2016年度国际学者交流项目国家自然科学基金青年项目(71302089)的资助
【分类号】：F224;F832.51

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