Multidimensional performance of listed companies at the Philippine stock exchange

Abstract

This chapter investigates the financial performance and technical efficiency of the 26 listed firms in the services sector of the Philippine Stock Exchange over the period 1998–2007, using the DuPont system and the super-efficiency data envelopment analysis (SE-DEA). Empirical findings revealed a negative return on equity for the sector and the presence of outliers in the sample. We also verified a robust significant association between the financial and technical performances of the sector.

The chapter offers new significant contributions to knowledge in terms of the multidimensional performance evaluation and the efficiency of the stock market, especially in developing economies, which has not been a well-researched area. Managerial implications are also identified for the improvement of the firms’ management and the usefulness of the SE-DEA model in performance management.

Citation

Bogacia, F.P. and Cabanda, E. (2010), "Multidimensional performance of listed companies at the Philippine stock exchange", Lawrence, K.D. and Kleinman, G. (Ed.) Applications in Multicriteria Decision Making, Data Envelopment Analysis, and Finance (Applications of Management Science, Vol. 14), Emerald Group Publishing Limited, Leeds, pp. 275-292. https://doi.org/10.1108/S0276-8976(2010)0000014017