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首页> 外文期刊>International Journal of Business Studies >SINGAPORE BANKING EFFICIENCY AND ITS RELATION TO STOCK RETURNS: A DEA WINDOW ANALYSIS APPROACH
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SINGAPORE BANKING EFFICIENCY AND ITS RELATION TO STOCK RETURNS: A DEA WINDOW ANALYSIS APPROACH

机译：新加坡银行效率及其与股票收益率的关系：DEA窗口分析方法

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This paper utilises the non-parametric Data Envelopment Analysis (DEA) window analysis method to investigate the long-term trend in efficiency change of Singapore commercial banks during the period of 1993-2003. We found that listed Singapore commercial banks have exhibits an average overall efficiency of 95.4 percent thus suggesting input waste of 4.6 percent. Our results suggest that the small Singapore commercial banks have outperformed their large and very large counterparts. We further established statistical relationship between cost efficiency and share price performance by employing panel regression analysis. The evidence seems to indicate that the changes in stock prices tend to reflect cost efficiency albeit with small degree of reaction. This suggests that stock of cost efficient banks to some extend outperform cost inefficient banks
机译：本文采用非参数数据包络分析（DEA）窗口分析方法研究了新加坡商业银行1993-2003年期间效率变化的长期趋势。我们发现，新加坡上市商业银行的平均整体效率为95.4％，这意味着投入浪费为4.6％。我们的结果表明，小型新加坡商业银行的表现要优于大型和大型商业银行。我们通过面板回归分析进一步建立了成本效率与股价绩效之间的统计关系。证据似乎表明，尽管反应程度很小，但股票价格的变化往往反映了成本效益。这表明，具有成本效益的银行存量在一定程度上超过了具有成本效益的银行

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