Hedge Strategies and U.S. BHCs Performance-A Dynamic Frontier Analysis

• Main Authors: Wu, Yunhao, 吳昀澔
• Other Authors: Lu, Wenmin
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/66260061109814057990

碩士 === 國防大學管理學院 === 財務管理學系 === 99 === Globalization has caused the financial system to become more prosperous, the rising of financial engineering and the environment of finance has changed. For America, the financial center of the world, the replacement of the financial system after the global economic crisis, the performance is influenced by the different hedge strategies they choose? Therefore, this study intends to explore the relationship between the hedge strategies, the operating performance and the main body of bank holding companies (BHCs). Firstly, the dynamic data envelopment analysis (Dynamic DEA) which contains the yearly carry-over activity is utilized to measure the operating performance of BHCs over the period 2005~2009. Furthermore, the relationship between operating performance, hedge strategies and the main body is probed for BHCs. Our research result shows that (1) BHCs with the main body Specialized Finance averagely performed better than other types; (2) The operating performance would be significance influenced by hedge strategies and the main body of BHCs. Key words: Hedge strategies, Dynamic DEA