Performance appraisal for the operation and management of listed and OTC Taiwanese companies with DEA benchmarking models

Ze-Bin Wang, Yung-Ho Chiu, Jin-chi Hsieh, Ying Li and Lee-hui Hsiao

Journal of the Asia Pacific Economy, 2018, vol. 23, issue 3, 447-464

Abstract: Taking listed and Over-The-Counter (OTC) Taiwanese companies in 2008–2010 as samples, this study divides them two groups – crisis companies and normal companies – and employs Data Envelopment Analysis (DEA) benchmarking models to calculate their operation efficiency values respectively. We then examine the relationship between corporate governance and operation performance. We propose a systematic framework of four input variables and two output variables to test and substantiate the performance of these two groups of companies. Our empirical results show the following: Most traditional industries are low-risk and non-crisis, compared with higher risk for high-tech industries; a company whose efficiency value is below 1 should actively improve its operational efficiency.Lower-risk traditional industries imply a higher stockholding ratio of directors along with a lower efficiency value.A negative correlation exists in traditional industries between the stockholding ratio of directors and the possibility of a financial crisis.

Date: 2018
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DOI: 10.1080/13547860.2018.1441701

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