Paper Title
Analysis Of The Efficiencies Of Securities Companies In Taiwan: Using Value-Based Convex And Non-Convex Metafrontier Approach

Abstract
Taiwan's securities industry in the face of more and more fierce market competition, the securities industry in these rapid changes and increasingly complex market environment, the problem about the lack of efficiency gradually emerged, so the measurement of operational efficiency has become the topic of discussion.The results of efficiency performance help company understand its own advantages and disadvantages, while recognizing the threat and potential opportunities of the environment.Enable the company's resources to do an effective configuration. This study mainly measures the business efficiency performance of Taiwanese securities dealers, and manyscholars in the past onlyused the convex metafrontier for analysis which has a problem that it may not quite in line with the accuracy of industrial efficiency performance analysis ,the same industry between different groups may be the production of technical heterogeneity problems, Therefore, considering the characteristics of Taiwan brokers coupled with the rare usingthe convex and non-convex metafrontier model approach to do simultaneous research and evaluation of the literature, this study will use two kinds of metafrontiermodels methods to analyze and make its efficiency value analysis more accurate and in line with the actual industrial characteristics, and finally description the efficiency performance of the entire Taiwan Securities industry. Keywords: Securities Firm, Efficiency, Convex Metafrontier, Non-Convex Metafrontier, Value Based, SBM