中国证券公司市场结构与绩效的实证分析  

An Empirical Analysis of the Market Structure and Performance of Security Firms in China

作　　者：王聪[1] 宋慧英[1] 

机构地区：[1]暨南大学经济学院,广东广州510632

出　　处：《经济经纬》2012年第1期157-160,共4页Economic Survey

基　　金：国家社会科学基金项目(08BJL022);广东省普通高校人文社科重点研究基地项目(08JDXM79003)

摘　　要：笔者利用2006年～2009年的面板数据,对传统的SCP假说、相对市场力量假说和效率结构假说进行了检验。研究发现,我国证券市场支持传统的SCP假说:市场集中度与证券公司绩效显著正相关,市场份额、效率与证券公司绩效之间的关系不显著,并且,效率与市场份额不相关。On the basis of a measurement of the cost efficiency of twenty security firms of our country with SFA method, the authors used the panel data of 2006 -2009 to test the traditional SCP hypothesis, relative market power hypothesis and efficiency-structure hy- pothesis. The study found that the security market of our country supports traditional SCP hypothesis：market concentration is signifi- cantly positively related to security firms＇performance, the relationship between market share,efficiency and security firms＇performance is not significant, and efficiency and market share are irrelevant.

关 键 词：证券公司 SFA 成本效率 结构-绩效假说 效率-结构假说 

分 类 号：F830.9[经济管理—金融学]