학술논문
A Study of the Efficiency of Futures Research Institutes of China
이용수 0
- 영문명
- 발행기관
- 한국유통과학회
- 저자명
- Guo-Hua WU Tian-Yin YAO Bao-Ping ZHANG
- 간행물 정보
- 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 7 No.12, 555~564쪽, 전체 10쪽
- 주제분류
- 경제경영 > 경제학
- 파일형태
- 발행일자
- 2020.12.30
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국문 초록
영문 초록
The purpose of this study is to analyze the efficiency of research institutes of futures companies, and to promote the development of futures market and real economy. This study employs DEA-solver software to conduct super-efficiency data envelopment analysis (SE-DEA), and also selects 40 representative futures research institutes in China as decision-making units (DMUs). For data of input and output indicators, we collect from the China Futures Association, Futures Daily, Hexun.com and Webstock.com respectively, and the time duration is the 103 trading days between from October 2019 to February 2020. Then the indicator for the strategy accuracy rate is calculated separately by analyzing the strategies published by each DMUs in public media. In conclusions, most institutes have excessive investment in human resources, and also have insufficient strategy accuracy rate and insufficient published research reports. The findings of this study suggest that Chinese futures companies need to improve the efficiency of research institutes, and better meet the demand of the financial market. In fact, the analysis of the efficiency of the futures company research institute has not been found in the literature worldwide, Application of DEA model in efficiency analysis of securities and futures research institutions and establishment of indicators are the innovations of this paper.
목차
1. Introduction
2. Literature Review
3. Research Method
4. Empirical Results
5. Discussion
6. Conclusion
References
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