Efficiency Comparisons among Taiwan''s Commercial Banks and Securities Firms-An Application of the Metafrontier Methods

• Main Authors: Shu-Chun Yu, 游舒淳
• Other Authors: 張寶光
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/44611169964967404521

碩士 === 淡江大學 === 財務金融學系碩士班 === 101 === This study aims to discuss the operating performance of Taiwan’s commercial banks and securities firms. Furthermore, efficiency comparisons among financial holding companies subsidiary and non-financial holding company, using a new two-step stochastic frontier approach（HHL Model）to estimate meta-cost frontier, over the period 2001-2011,and expect to reflect the firm’s reality performance. The empirical results show that banks holding company yield synergy, and the management ability is slightly better than non-financial holding banks, but the efficiency of independent securities firms is significant better than financial holding companies subsidiary, and also find that existence recession of securities industry. Otherwise, this study appears to support the HHL Model is useful than programming techniques, because it enables the statistical inferences to be drawn, and provides more efficiency estimations.