Advanced Search
MyIDEAS: Login to save this article or follow this journal

Impact of Firm Attributes on the Efficiency of Brokerage Houses

Contents:

Author Info

  • Hakan AYGOREN
  • M.Ensar YESILYURT

Abstract

Financial markets exist in order to bring together buyers and sellers of securities. Financial intermediaries, also known as financial institutions play an important role in financial markets. The most important contribution of financial intermediaries is a steady and relatively inexpensive flow of funds from savers to final users or investors. Thus efficiency of financial intermediaries is of importance for efficient markets. Brokerage houses efficiency is closely related to efficiency of financial markets due to the transaction costs and speed of transacting. This study analyzes the factors influencing the efficiency of brokerage houses by using Stochastic Frontier Analysis (SFA). The results show that several firm attributes have impact on efficiency. The results indicate that age of brokerage houses and numbers of employees have positive impact on efficiency, however, other firm attributes such as number of branches, firm size, financial leverage, and service ratio (Stock transactions/Total transaction) have negative impact on efficiency of brokerage houses.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.bddk.org.tr/WebSitesi/turkce/Raporlar/BDDK_Dergi/106485_.pdf
Download Restriction: no

Bibliographic Info

Article provided by Banking Regulation and Supervision Agency in its journal Journal of Banking and Financial Markets.

Volume (Year): 5 (2011)
Issue (Month): 2 ()
Pages: 159-181

as in new window
Handle: RePEc:bdd:journl:v:5:y:2011:i:2:p:159-181

Contact details of provider:
Postal: Atatürk Bulvarı No:191 B Blok 06680 KAVAKLIDERE/ANKARA
Phone: +90-312-455 65 00
Fax: +90-312-424 08 77
Email:
Web page: http://www.bddk.org.tr/WebSitesi/turkce/Raporlar/BDDK_Dergi/BDDK_Dergi.aspx
More information through EDIRC

Related research

Keywords: Efficiency; Brokerage Houses; Stochastic Frontier (SFA); Financial Markets; Financial Intermediary;

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:bdd:journl:v:5:y:2011:i:2:p:159-181. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zafer Kovancý).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.