An allocation Malmquist index with an application in the China securities industry
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This paper proposes an allocation Malmquist index which is inspired by the work on the non-parametric cost Malmquist index. We first show that how to decompose the cost Malmquist index into the input-oriented Malmquist index and the allocation Malmquist index. An application in corporate management of the China securities industry with the panel data set of 40 securities companies during the period 2005–2011 shows the practicality of the propose model.
KeywordsData envelopment analysis Overall efficiency Allocative efficiency Allocation Malmquist index
This work is financially supported by 211 Project for the Southwestern University of Finance and Economics (Phase 3), Chengdu, China. The authors would like to thank Mr. Guangdong Sun and Miss Jing He for assistant work of collecting the data. We also would like to thank to anonymous reviewers for their insightful comments and suggestions, as results the paper has been improved substantially.
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