Analysis on Operating Efficiency of Chinese Securities Companies Based on Super Efficiency DEA and DEA-Malmquist Index Method
1Mei-ling He,2 Wen-jing Xie,3 Xiao-min Zhou,4 Wen-Tsao Pan
1,2,3,4School of Economics and Management, Hunan University of Science and Engineering, Hunan Province, China,425199
DOI : https://doi.org/10.47191/ijsshr/v4-i10-27

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With the expansion of China's securities market scale, securities companies as an important participant in the securities market have also developed rapidly. Under the influence of the global epidemic, the transaction volume of securities companies continued to decline, the profit prospects of securities firms increased, liquidity continued to be loose, and the overall policy budget was surplus. Through the efficiency analysis of securities companies, we can understand the resource utilization and industry conditions of securities companies, find out the gaps and deficiencies, and then improve, and improve the operating efficiency of the industry. In order to evaluate the operating efficiency of securities companies more scientific and objective, this paper adopts DEA-Malmquist index and super-efficiency DEA method, based on the financial statement data disclosed by 25 securities companies in 2016~2020, establishes an evaluation index system, analyzes the operating efficiency of securities companies, calculates and analyzes the operating efficiency of securities companies and reveals their internal reasons. The research results show that (1) steady improvement of operating productivity; (2) technical progress is the main factor; operating efficiency of (3) with different securities companies, scale efficiency weakly hinders technical efficiency; (4) Large securities companies should pay attention to control scale, develop innovative business, strengthen cost management, risk control and risk response ability.


Securities Company, super-efficiency DEA, Malmquist index, operating efficiency,COVID-19,Technological progress, the efficiency of scale.


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