Study On Operational Efficiency Of Securities Of China

As an important participant and organizer in the stock market, Securities companies play an increasingly important role in the progress of the development of china’sstock market.at the same time, the stock market is also give a higher requirement on the operation and management of securities companies. Due to some reasons of history and reality, the operation and management of securities companies have many problems, these problems restricting further development of the stock market and securities companies. In this case, find out some reasons of these problems by taking the operating data of securities companies to analysis is important and necessary.This paper selected60domestic large-scale securities companies as the object of study, use the data development analysis to analysis its operating efficiency in2011. This paper take specific analysis and comparison of the total technical efficiency, pure technical efficiency and scale efficiency. there are many problems with our securities companies, overall operating efficiency is low, the polarization evident, lack of the innovative capacity, relatively simple business structure, and finally, according to the DEA model projection analysis and description of the internal and external factors that affect our securities companies operating efficiency after study finds analysis, and recommendations to strengthen the company internal management, promoting the business and service innovation, to create a diversified organization channel.The article is divided into five chapters:The first chapter is about the background and significance of the studies.A brief exposition of the background and importance of securities companies operating efficiency. And brief description of the ideas and the framework of this study.The second chapter is about the research status and related theoretical background.Brief combing the literature on the financial industry and the efficiency of securities companies at domestic and abroad, and describes the efficiency of financial institutions parametric methods and non-parametric methods.The third chapter Development and Current Situation of China’s securities industryBriefly elaborate some of the problems that occur in the course of development of China’s securities industry, and finally a brief summary of the widespread problem in China’s securities companies.The fourth chapter of our securities companies operating efficiency DEA empirical studyFirst, research methods and models for data envelopment analysis brief introduction, including the extension of the DEA model and the DEA model in different areas. After a detailed introduction of the sample and the indicator selection and select the specific reasons and justifications. Then use the sample indicator data empirical analysis using DEA model.The fifth chapter The conclusions and recommendations of the study.The full text of the summary, gives a few suggestions on improving the operating efficiency of China’s securities companies.