Efficiency and productivity analysis of the financial securities industry in an emerging market: The case of Vietnam

This thesis examines efficiency and productivity of Vietnamese financial securities firms during the period from 2015 to 2020. By using the bootstrap DEA technique, the thesis firstly provides the statistical insights into the productivity and efficiency measurement of securities companies in an emerging market context. Secondly, the findings yield important recommendations for monitoring and managing firms’ leverage and liquidity exposure to improve profitability and optimise efficiency performance for securities firms. The empirical results of efficiency and productivity analysis provide a fundamental base to construct policy recommendations which should improve the overall performance of securities firms, particularly in emerging markets.