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    Title: 綜合證券商經營績效分析-三階段資料包絡分析法之應用
    A study of integrated securities firms’ efficiency in Taiwan-An application of three-stage data envelopment analysis
    Authors: 黃士哲
    Contributors: 王國樑
    黃士哲
    Keywords: 三階段資料包絡分析法
    綜合券商
    經營效率
    three-stage DEA
    Date: 2009
    Issue Date: 2013-09-05 14:18:20 (UTC+8)
    Abstract: 本文根據2002年至2008年的各綜合券商財報資料,採用三階段資料包絡分析法,評估綜合券商之經營效率分析,研究的對象包含台灣金控體系下十四家綜合券商和上市櫃十一家綜合券商證券公司(非金控體系)共25家綜合券商。實證結果如下:第一階段廠商無效率之主要來源為純技術無效率與第三階段之部分,估計之結果不同,綜合券商經營管理無效率的情形相當嚴重,綜合券商純技術效率平均值為0.955,規模效率平均值為0.769,代表受評綜合券商經營上產生無效率之來源為生產規模之無效率,假若不考慮外在因素之衝擊則會低估純技術效率值,將造成廠商無效率來源之誤判,本文利用Wilcoxon符號等級檢定(Wilcoxon signed rank test)檢驗第一階段與第三階段效率值,顯示在1%的顯著水準下,第一階段與第三階段 DEA 估計之技術效率值、純技術效率值及規模效率值確實存在顯著差異;SFA迴歸評估結果顯示,營運據點數、董事規模、董監事股權質押比率對勞動投入差額呈顯著正向關係,2008金融風暴、業務集中度、業務風險、發放員工分紅對勞動投入差額呈顯著負向關係;營運據點數、業務集中度、業務風險、董事規模、董監事股權質押比率對資本投入差額呈顯著正向關係,2008金融風暴及發放員工紅利,對資本投入差額呈顯著負向關係;2008金融風暴、業務風險、發放員工紅利、董事規模、董監事股權質押比率對其他費用投入差額呈顯著正向關係,營運據點數、業務集中度,對其他費用投入差額呈顯著負向關係。
    Reference: 王國樑、翁志強、張美玲(1998),「臺灣綜合券商技術效率探討」,證券市場發展季刊,第10卷第2期,93-116。
    張凱渟(2008),「台灣地區有線電視系統業者經營效率分析-三階段法之應用」,政治大學經濟研究所碩士論文
    張雅雯(2004),「臺灣綜合券商之成本效率與生產力分析」,台北大學經濟學研究所碩士論文
    楊家豪(2008),「臺灣證券業經營效率之探討」,政治大學行政管理碩士學程碩士論文
    劉雲霞(1996),「臺灣證券商經營狀況之探討-資料包絡分析法的運用」政治大學會計研究所碩士論文
    歐陽如虹(2002),「臺灣證券商經營效率分析」,銘傳大學國際企業管理研究所碩士論文
    薛月對(2009),「台灣會計師事務所效率之探討-三階段資料包絡分析法之應用」,政治大學行政管理所碩士論文


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    Description: 碩士
    國立政治大學
    經濟學系
    95258012
    98
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0095258012
    Data Type: thesis
    Appears in Collections:[經濟學系] 學位論文

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