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The Effect of Risky Assets to Operating Efficiencies for Listed Securities Firms in Taiwan Using the Data Envelopment Analysis
Abstract:This paper employs a the variable returns to scale DEA model to take account of risky assets and estimate the operating efficiencies for the 21 domestic listed securities firms during the period 2005-2009. Evidence is found that on average the brokerage securities firms- operating efficiencies are better than integrated securities firms. Evidence is also found that the technical inefficiency from inappropriate management constitutes the main source of the operating inefficiency for both types of securities firms. Moreover, the scale economies prevail in brokerage and integrated securities firms, in other words, which exhibit the characteristic of increasing returns to scale.
Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1081449Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1242
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