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題 名 | 臺灣綜合證券商技術效率探討=A Study of Technical Efficiencies of Integrated Securities Firms in Taiwan |
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作 者 | 王國樑; 翁志強; 張美玲; | 書刊名 | 證券市場發展季刊 |
卷 期 | 10:2=38 1998[民87.] |
頁 次 | 頁93-115 |
分類號 | 563.55 |
關鍵詞 | 技術效率; 資料包絡分析法; Tobit截斷迴歸方法; Technical efficiency; Data envelopment analysis; Tobit censored regression technique; |
語 文 | 中文(Chinese) |
中文摘要 | 根據1991至1993年綜合證券商資料,本文先以資料包絡分析法評估個別綜合證券 商的技術效率;然後用 Tobit 截斷迴歸方法探討影響綜合證券商技術效率的因素。 結果發 現,大部分綜合證券商在資源運用效率上仍存有相當大改善空間。經營規模與技術效率間具 有正的對數關係;業務集中度對技術效率之影響為正的;有分公司者的技術效率較未擁有者 低;業務風險對技術效率有負面影響。競爭壓力導致 1993 年綜合證券商的技術效率顯著提 昇,並縮小它們之間的技術效率差異。 |
英文摘要 | Based on 1991-1993 data of integrated securities firms in Taiwan, this paper first uses DEA to assess technical efficiencies of these firms, and then applies the Tobit censored regression analysis to study determinants of their technical efficiencies. The empirical results show that most of Taiwan's integrated securities firms have great scope for further improvement on technical efficiencies. There exists a semi-log relationship between the firm's size and technical efficiency. The impact of the firm's service concentration on its technical efficiency is positive. Firms with a branch or branches have lower technical efficiencies than those without any branches. Firms with low operating risks are more technically efficient than those with high operating risks. Competition pressure forces integrated securities firms to improve their technical efficiencies and shrinks the differences of technical efficiencies among them in 1993. |
本系統中英文摘要資訊取自各篇刊載內容。