Measurement And Analysis Of The Operating Efficiency About China’s Securities Companies Based On DEA Method

Based on previous studies,the author make some new improvements on sample selection,index selection,data processing and analysis methods in this paper.In sample selection,the authors have chosen80comprehensive securities company from2007to2011as the sample.And The sample also contains16brokerage securities companies restructured in the five-year period.About input indicators,we select the payroll as labor capital,select the total assets as capital,and select the operating expenses except payroll as another capital investment.Select commission income,income from investments in securities,securities underwriting business income,innovation business income,and other revenue as output indicators. In this paper, we select the output-oriented BCC model of DEA method.Then we calculate the production efficiency, pure technical efficiency, scale efficiency and Malmquist total factor productivity change index of the securities companies.The structure and content of the article are as follows.The first chapter is the introduction.This section highlights the research background and significance of the article,and analyses the competitiveness and sustainable development capacity of financial units in the current changing environment.Then,the authors point out the importance of the study of efficiency. According to the background, meaning and purpose of the studies to determine the methods and ideas, to lay the foundation for the rest of this analysis.The second chapter is the operating status of China’s securities companies.The object of this study is China’s securities companies.In this chapter, making the course of development,operating status,the opportunities and the problems facing of China’s securities companies for a general introduction.The third chapter is the definition of relevant theory and concepts.From Chapter four to Chapter five,it is the empirical analysis for the efficiency of securities companies.First selecting the indicators, models and methods, then doing static analysis and dynamic analysis for efficiency. Chapter six is the summary and outlook of the full text.This chapter to the last chapter.In addition to draw conclusions and make relevant recommendations based on the foregoing analysis, this part further describe the article shortcomings and future research directions.In view of the above analysis, this paper presents a few suggestions for improvement.First, the securities company should break the traditional earnings structure, enhance business innovation capabilities, and actively carry out innovative business and middle business to get more revenue.Second, securities companies should strengthen risk management and control capability to avoid excessive losses and other unstable situation in the course of business.Third, the management level needs to be improved. The redundancy of operating expenses is an important cause of inefficiency. Fourth, the international capital market is a high-tech leading the market. Therefore, the securities company requires the development and introduction of new technologies.Fifth, securities companies need to cultivate and reserves high-tech talent...