| With the opening of the financial market in China, securities companies are under the huge pressure of survival and competition. Research and analysis of effectiveness and efficiency of the securities company not only help the management to give the specific solutions to develop the core competitivenes of the company, but also support the organizations to beat the other competitors. And after 30 years development of DEA, this method has been wildly used in business management subjects. It becomes a significant tool and methods, especially in the aspect of evaluation of company’s efficiency.Base on the continuing study of DEA, there are many new theories and methods have been created by experts. A typical example is the cross-efficiency method which could correct various mistakes in traditional DEA model, such as the overstatement of advantages and understatement of disadvantages. It is more objective than the DEA model. However, there is no relevant literature about the theoretical research of cross-efficiency projection, the projection from theory of cross-efficiency in the efficiency study in listed securities companies in China.This paper based on the traditional DEA model have been applied to the technical efficiency, pure technical efficiency and scale efficiency of overall operation,brokerages and investment bank business of Chinese listed securities companies. Then using cross-efficiency model to compute the cross-efficiency of Chinese listed securities companies and the results are compared with the outcome of CCR model. In conclusion, the cross-efficient model has the similar data with the CCR model and the former could offer more details. Furthermore, based on the study of across-efficiency projection theories, comparing with traditional projection, across-efficiency projection has not been limited by condition of operational DMU only. Therefore, the improvement cross-efficiency projection is more objective and more realistic than others. |
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