(LUẬN văn THẠC sĩ) the data envelopment analysis model, evaluating the efficiency of vietnamese commercial banks

Ministry of Education and Training University of Economics HoChiMinh City NGUYEN THI HONG VINH THE DATA ENVELOPMENT ANALYSIS MODEL: EVALUATING THE EFFICIENCY OF VIETNAMESE COMMERCIAL BANKS MASTER THESIS IN ECONOMICS Supervisor: PROFESSOR DR PHAM VAN NANG HoChiMinh City – 2011 TIEU LUAN MOI download : skknchat@gmail.com Ministry of Education and Training University of Economics HoChiMinh City NGUYEN THI HONG VINH THE DATA ENVELOPMENT ANALYSIS MODEL: EVALUATING THE EFFICIENCY OF VIETNAMESE COMMERCIAL BANKS Major: Banking and Finance Major code: 60.31.12 MASTER THESIS IN ECONOMICS Supervisor: PROFESSOR DR PHAM VAN NANG HoChiMinh City – 2011 TIEU LUAN MOI download : skknchat@gmail.com i Acknowledgement First and foremost, I offer my sincerest gratitude to my supervisor, Professor Dr Pham Van Nang for his continuous support during my research, for his patience, motivation, enthusiasm, and immense knowledge His guidance helped me in all the time of research and writing of this thesis I could not have imagined having a better advisor and mentor for my Master study I gratefully acknowledge all the members of the proposal examination committee for their valuable comments and constructive suggestions I would like to express my sincere gratitude to all instructors and staff at Faculty of Banking and Postgraduate Faculty, University of Econimics HoChiMinh City for their support and the valuable knowledge during my study in UEH My special gratitude is extended to my English teacher, Mr Paul Scott, for his grammatical proofreading of the Thesis draft I am much indebted to Mr Scott for his precious time to read this thesis and gave his critical comments about it It is a pleasure to pay tribute also to the Dr Le Phan Thi Dieu Thao and my colleagues at the International banking faculty, University of Banking Hochiminh City for offering me opportunity to study and finish the Master course Lastly and most importantly, I wish to thank my beloved parents, and my fiancé, Ho Xuan Hien Also, I give thanks to the one above all of us, the omnipresent Father for His endless love and spiritual support during the completion of this project TIEU LUAN MOI download : skknchat@gmail.com ii Abstract The thesis investigates the efficiency of a sample of Vietnamese commercial banks for the period of 2007-2009, by using the Data Envelopment Analysis (DEA) approach After analyzing, the research concludes that the technical efficiency of these banks was, on average, increasing from 0.683 in 2007 to 0.864 in 2009 It was also found that the average cost efficiency of the sampled banks was 53.7 percent, and the average annual growth of the Malmquist index was negative 2.6 percent over the study period; however, there is still an opportunity to improve this indicator The results presented in the thesis will be helpful to bank managers in identifying their banks‟ efficiency performance and the underlying reasons for their successes or failures It will also help banks in strategic planning, and help policy makers in their attempts to improve the overall efficiency of the banking industry and identify the need for reforms of the domestic banks KEY WORDS: Data Envelopment Analysis (DEA), efficiency, commercial banks, Vietnam TIEU LUAN MOI download : skknchat@gmail.com iii Table of Contents Acknowledgement Abstract ii Table of Contents iii List of Tables vi List of Figures vii Abbreviations viii Chapter 1: Introduction to the study 1.1 Introduction 1.2 Research background 1.2.1 Rationale of the study 1.2.2 Overview of the Vietnamese banking system 1.3 Research objectives and questions 1.3.1 Research objectives 1.3.2 Research questions 1.4 Scope and Limitation 1.5 Research method 1.6 Implications of research 1.7 Structure of the study Chapter 2: Literature Review 11 2.1 Introduction 11 TIEU LUAN MOI download : skknchat@gmail.com iv 2.2 Commercial banks 11 2.2.1 Definition of commercial banks 11 2.2.2 Function of commercial banks 13 2.2.3 Major factors affecting commercial banks‟ performance 14 2.3 Efficiency and factors affecting efficiency of commercial banks 16 2.3.1 Efficiency 16 2.3.2 Main factors affecting efficiency of commercial banks 17 2.4 The measurement of efficiency of Commercial banks 19 2.4.1 Efficiency analysis by the traditional method of financial indicators 19 2.4.2 Efficiency analysis by parametric frontier efficiency approach 21 2.4.3 Efficiency analysis by Non-parametric approach (DEA) 22 2.5 Literature review on measuring efficiency of banking system in Vietnam 25 2.6 Summary 26 Chapter 3: Research methodology 27 3.1 Introduction 27 3.2 Research design 27 3.3 Descriptions of Data Sample and Variables 29 3.3.1 Characteristics of Research Sample on the Vietnamese banks 29 3.3.2 Description of Variables 30 3.4 Data analysis techniques 33 3.5 Conclusion 43 Chapter 4: Empirical results of the research 44 4.1 Introduction 44 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks v 4.2 Descriptive Statistics 44 4.3 Analysis of Efficiency Estimates 46 4.4 Productivity Improvement with Malmquist index 53 4.5 Conclusion 56 Chapter 5: Conclusion and suggestion 57 5.1 Introduction 57 5.2 Conclusions from the research questions 57 5.2.1 Conclusions related to the first question 57 5.2.2 Conclusions related to the second question 59 5.3 Recommendations of the research study 60 5.3.1 Recommendations for Vietnamese commercial banks 60 5.3.2 Recommendations for State Banks of Vietnam 63 5.3.3 Recommendations for Government 64 5.4 Contributions of the research findings 65 5.4.1 Theoretical contribution 65 5.4.2 Methodological contribution 66 5.5 Implications of the research 66 5.6 Limitations of the research and further research 67 5.7 Conclusion 68 References ix Appedix xii TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks vi List of Tables Table 1.1 Number of commercial banks in Vietnam, 2007-2009 Table 1.2 Some developments of Vietnamese banking system (2007-2009) Table 3.1 Sample of Vietnamese banks 29 Table 4.1: Summary of Variables on Vietnamse commercial banks, 2007 -2009 45 Table 4.2: Technical efficiency of commercial banks, 2007-2009 47 Table 4.3: Summary of Estimated Efficiency Measures, 2007-2009 49 Table 4.4: Estimated Efficiency Scores for Individual Banks, 2007 -2009 50 Table 4.5 Number of banks with DRS, IRS, and Cons, 2007-2009 53 Table 4.6: Malmquist Index summary of Annual Means 54 Table 4.7 Malmquist Index Summary of Individual Commercial Bank Means, 2007 2009 55 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks xiv 11 12 13 14 15 16 17 18 19 20 21 22 Year 2009 mean std dev max obs Bank ID 10 11 12 13 14 15 16 17 18 19 20 21 22 mean 0.574 0.56 0.8 0.653 0.611 0.796 0.545 0.498 0.531 0.748 0.722 0.851 0.678 0.959 1 0.809 1 0.547 0.767 0.775 0.941 0.963 0.637 0.796 0.674 0.498 0.971 0.696 0.859 0.818 0.171612 0.153238 0.155135 1 0.498 0.547 0.498 22 22 22 crste vrste scale 0.752 0.833 0.903 0.919 0.956 0.961 0.997 0.997 0.909 0.909 0.821 0.821 1 1 0.628 0.628 1 1 1 1 0.724 0.724 0.763 0.763 0.744 0.744 0.848 0.848 1 1 1 1 0.787 0.787 0.953 0.98 0.972 1 0.394 0.509 0.775 0.768 0.797 0.964 0.864 0.95 0.908 irs irs irs irs drs drs drs drs irs irs drs drs drs irs irs irs irs irs irs irs drs irs TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks xv std dev max obs 0.158748 0.117343 0.117569 1 0.394 0.509 0.628 22 22 22 crste = technical efficiency from CRS vrste = technical efficiency from VRS scale =scale efficiency = crste/vrste Note also that all subsequence tables refer to VRS results Note: Appedix 3: MALMQUIST INDEX SUMMARY Results from DEAP Version 2.1 year = firm crs te rel to tech in yr no ************************ t-1 t vrs te t+1 0.000 0.606 0.531 0.645 0.000 0.434 0.334 0.773 0.000 0.590 0.467 1.000 0.000 1.000 2.008 1.000 0.000 0.463 0.380 0.544 0.000 1.000 0.762 1.000 0.000 0.788 0.587 1.000 0.000 0.677 0.748 0.780 0.000 0.811 0.582 0.879 10 0.000 0.987 0.503 1.000 11 0.000 0.627 0.450 0.675 12 0.000 1.000 0.905 1.000 13 0.000 0.595 0.457 0.642 14 0.000 0.850 1.153 1.000 15 0.000 0.561 0.594 0.619 16 0.000 0.334 0.220 0.625 17 0.000 0.504 0.438 0.694 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks xvi 18 0.000 1.000 1.931 1.000 19 0.000 0.466 0.350 0.655 20 0.000 0.707 0.660 1.000 21 0.000 0.591 0.514 0.940 22 0.000 0.431 0.394 0.500 mean year = 0.000 0.683 0.680 0.817 firm crs te rel to tech in yr no ************************ t-1 t vrs te t+1 0.896 0.644 1.138 0.701 0.726 0.622 1.138 1.000 0.669 0.565 1.030 1.000 0.981 0.650 0.925 1.000 0.630 0.535 0.918 0.752 0.974 0.659 1.318 0.762 1.219 1.000 2.167 1.000 0.701 0.564 0.974 0.748 1.181 0.848 1.331 1.000 10 1.361 0.664 1.222 0.749 11 0.800 0.574 1.020 0.621 12 2.048 1.000 2.323 1.000 13 0.759 0.560 0.987 0.578 14 0.718 0.800 1.354 0.821 15 0.854 0.653 1.171 0.717 16 0.710 0.611 1.179 0.966 17 0.811 0.796 1.440 1.000 18 0.876 1.000 2.031 1.000 19 0.829 0.545 1.130 0.891 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks xvii 20 0.886 1.000 0.939 1.000 21 0.724 0.498 0.894 1.000 22 0.740 0.531 0.955 0.685 mean 0.913 year = 0.696 1.254 0.863 firm crs te rel to tech in yr no ************************ t-1 t vrs te t+1 0.446 0.752 0.000 0.786 0.557 0.919 0.000 0.959 0.554 0.997 0.000 1.000 0.741 0.909 0.000 1.000 0.516 0.821 0.000 0.830 0.553 1.000 0.000 1.000 0.339 0.628 0.000 1.000 1.294 1.000 0.000 1.000 0.650 1.000 0.000 1.000 10 0.923 1.000 0.000 1.000 11 0.424 0.724 0.000 1.000 12 0.407 0.763 0.000 1.000 13 0.420 0.744 0.000 1.000 14 0.610 0.848 0.000 1.000 15 0.597 1.000 0.000 1.000 16 0.513 1.000 0.000 1.000 17 0.662 1.000 0.000 1.000 18 0.495 0.787 0.000 1.000 19 0.683 0.953 0.000 0.972 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks xviii 20 1.248 1.000 0.000 1.000 21 0.211 0.394 0.000 0.541 22 0.408 0.768 0.000 0.769 mean 0.602 0.864 0.000 0.948 [Note that t-1 in year and t+1 in the final year are not defined] MALMQUIST INDEX SUMMARY year = firm effch techch pech sech tfpch 1.063 1.260 1.087 0.978 1.339 1.431 1.233 1.293 1.106 1.764 0.957 1.224 1.000 0.957 1.171 0.650 0.867 1.000 0.650 0.563 1.155 1.197 1.382 0.836 1.383 0.659 1.392 0.762 0.865 0.917 1.268 1.279 1.000 1.268 1.623 0.833 1.060 0.958 0.869 0.883 1.045 1.393 1.137 0.919 1.456 10 0.673 2.004 0.749 0.899 1.349 11 0.916 1.393 0.920 0.995 1.275 12 1.000 1.505 1.000 1.000 1.505 13 0.940 1.329 0.900 1.045 1.250 14 0.941 0.813 0.821 1.146 0.765 15 1.164 1.112 1.159 1.004 1.294 16 1.832 1.328 1.545 1.186 2.434 17 1.577 1.083 1.440 1.095 1.709 18 1.000 0.673 1.000 1.000 0.673 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks xix 19 1.171 1.423 1.360 0.861 1.666 20 1.415 0.974 1.000 1.415 1.378 21 0.842 1.294 1.063 0.792 1.089 22 1.231 1.235 1.369 0.899 1.521 mean 1.043 1.201 1.067 0.977 1.252 year = firm effch techch pech sech tfpch 1.169 0.579 1.120 1.043 0.677 1.479 0.575 0.959 1.542 0.851 1.767 0.552 1.000 1.767 0.975 1.399 0.757 1.000 1.399 1.058 1.535 0.605 1.105 1.390 0.929 1.518 0.526 1.312 1.157 0.798 0.628 0.499 1.000 0.628 0.314 1.774 0.866 1.337 1.326 1.536 1.180 0.644 1.000 1.180 0.759 10 1.505 0.709 1.336 1.126 1.066 11 1.261 0.574 1.609 0.783 0.724 12 0.763 0.479 1.000 0.763 0.366 13 1.329 0.566 1.731 0.768 0.752 14 1.060 0.652 1.218 0.870 0.691 15 1.532 0.577 1.394 1.099 0.884 16 1.636 0.516 1.035 1.581 0.844 17 1.257 0.605 1.000 1.257 0.760 18 0.787 0.556 1.000 0.787 0.438 19 1.747 0.588 1.091 1.601 1.028 20 1.000 1.153 1.000 1.000 1.153 21 0.792 0.545 0.541 1.464 0.432 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks xx 22 1.446 0.543 1.122 1.289 0.786 mean 1.249 0.608 1.105 1.130 0.760 MALMQUIST INDEX SUMMARY OF ANNUAL MEANS year effch techch pech sech tfpch 1.043 1.201 1.067 0.977 1.252 1.249 0.608 1.105 1.130 0.760 mean 1.141 0.855 1.086 1.051 0.975 MALMQUIST INDEX SUMMARY OF FIRM MEANS firm effch techch pech sech tfpch 1.114 0.854 1.103 1.010 0.952 1.455 0.842 1.114 1.306 1.226 1.300 0.822 1.000 1.300 1.069 0.954 0.810 1.000 0.954 0.772 1.332 0.851 1.236 1.078 1.134 1.000 0.856 1.000 1.000 0.856 0.893 0.799 1.000 0.893 0.713 1.216 0.958 1.132 1.074 1.165 1.110 0.947 1.067 1.041 1.051 10 1.006 1.192 1.000 1.006 1.199 11 1.074 0.894 1.217 0.883 0.961 12 0.874 0.849 1.000 0.874 0.742 13 1.118 0.867 1.248 0.896 0.969 14 0.999 0.728 1.000 0.999 0.727 15 1.335 0.801 1.271 1.050 1.069 16 1.732 0.828 1.264 1.369 1.433 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks (LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks(LUAN.van.THAC.si).the.data.envelopment.analysis.model evaluating.the.efficiency.of.vietnamese.commercial.banks