CAJ | 학술논문

本文利用DEA和基于DEA的Malmquist生产率指数，运用32家主要证券公司的相关数据，对中国证券业2004至2006年间的技术效率进行了分析和评价。结果显示，中国证券业的整体效率水平尽管还比较低，但已经显示出了不断提高的趋势；证券公司效率的两极分化趋势已初露端倪；越来越多的证券公司开始出现规模报酬递减；技术变化对生产率变化的影响超过了效率变化，成为生产率变化的主要原因。
본문이용DEA화기우DEA적Malmquist생산솔지수，운용32가주요증권공사적상관수거，대중국증권업2004지2006년간적기술효솔진행료분석화평개。결과현시，중국증권업적정체효솔수평진관환비교저，단이경현시출료불단제고적추세；증권공사효솔적량겁분화추세이초로단예；월래월다적증권공사개시출현규모보수체감；기술변화대생산솔변화적영향초과료효솔변화，성위생산솔변화적주요원인。
Based on DEA and Malmquist Productivity Index measured by DEA, using a data set of 32 securities companies,this paper has analyzed and evaluated the technical efficiency of securities industry in China from 2004 to 2006. The findings demonstrate that a rising trend has been found, though efficiency of securites industry is low now. There has been polarization in efficiency of different companies. More and more securities companies have been in stage of decreasing returns to scale. Technical change has bigger effect on productivity change than efficiency change, and has become the main reason of productivity change.