{"id":"https://openalex.org/W7124205129","doi":"https://doi.org/10.1186/s40008-025-00367-0","title":"Measuring the efficiency of Japanese securities firms","display_name":"Measuring the efficiency of Japanese securities firms","publication_year":2026,"publication_date":"2026-01-14","ids":{"openalex":"https://openalex.org/W7124205129","doi":"https://doi.org/10.1186/s40008-025-00367-0"},"language":"en","primary_location":{"id":"doi:10.1186/s40008-025-00367-0","doi":"https://doi.org/10.1186/s40008-025-00367-0","is_oa":true,"landing_page_url":"https://doi.org/10.1186/s40008-025-00367-0","pdf_url":null,"source":{"id":"https://openalex.org/S2736629167","display_name":"Journal of Economic Structures","issn_l":"2193-2409","issn":["2193-2409"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["cwts-core","doaj","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319965","host_organization_name":"Springer Nature","host_organization_lineage":["https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Nature"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Economic Structures","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://doi.org/10.1186/s40008-025-00367-0","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5071047853","display_name":"Kozo Harimaya","orcid":"https://orcid.org/0000-0001-5354-4907","observed_orcids":["https://orcid.org/0000-0001-5354-4907"]},"institutions":[{"id":"https://openalex.org/I135768898","display_name":"Ritsumeikan University","ror":"https://ror.org/0197nmd03","country_code":"JP","type":"education","lineage":["https://openalex.org/I135768898","https://openalex.org/I4390039241"]}],"countries":["JP"],"is_corresponding":true,"raw_author_name":"Kozo Harimaya","raw_affiliation_strings":["College of Business Administration, Ritsumeikan University, Kusatsu, Shiga, 525-8577, Japan"],"raw_orcid":"https://orcid.org/0000-0001-5354-4907","affiliations":[{"raw_affiliation_string":"College of Business Administration, Ritsumeikan University, Kusatsu, Shiga, 525-8577, Japan","institution_ids":["https://openalex.org/I135768898"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5023323278","display_name":"Eiji Okuyama","orcid":"https://orcid.org/0000-0001-9063-3845","observed_orcids":["https://orcid.org/0000-0001-9063-3845"]},"institutions":[{"id":"https://openalex.org/I96679780","display_name":"Chuo University","ror":"https://ror.org/03qvqb743","country_code":"JP","type":"education","lineage":["https://openalex.org/I96679780"]}],"countries":["JP"],"is_corresponding":false,"raw_author_name":"Eiji Okuyama","raw_affiliation_strings":["Faculty of Commerce, Chuo University, Hachioji-shi, Tokyo, 192-0393, Japan"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Faculty of Commerce, Chuo University, Hachioji-shi, Tokyo, 192-0393, Japan","institution_ids":["https://openalex.org/I96679780"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5071047853"],"corresponding_institution_ids":["https://openalex.org/I135768898"],"apc_list":{"value":1990,"currency":"USD","value_usd":1990},"apc_paid":{"value":1990,"currency":"USD","value_usd":1990},"fwci":0.0,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":{"value":0.02811978,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":"15","issue":"1","first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10357","display_name":"Efficiency Analysis Using DEA","score":0.9980000257492065,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10357","display_name":"Efficiency Analysis Using DEA","score":0.9980000257492065,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.0005000000237487257,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T14317","display_name":"Finance, Markets, and Regulation","score":0.00019999999494757503,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/securities-companies","display_name":"securities companies","score":0.8479999899864197},{"id":"https://openalex.org/keywords/efficiency-evaluation","display_name":"efficiency measurement","score":0.6589999794960022},{"id":"https://openalex.org/keywords/internet-security","display_name":"internet security","score":0.5789999961853027},{"id":"https://openalex.org/keywords/financial-liberalization","display_name":"financial liberalization","score":0.8309999704360962},{"id":"https://openalex.org/keywords/economies-of-scale","display_name":"economies of scale","score":0.8679999709129333},{"id":"https://openalex.org/keywords/economies-of-scope","display_name":"economies of scope","score":0.953000009059906},{"id":"https://openalex.org/keywords/stochastic-metafrontier","display_name":"stochastic metafrontier","score":0.7940000295639038}],"concepts":[{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6406000256538391},{"id":"https://openalex.org/C2778012447","wikidata":"https://www.wikidata.org/wiki/Q1034415","display_name":"Scope (computer science)","level":2,"score":0.5698999762535095},{"id":"https://openalex.org/C5600068","wikidata":"https://www.wikidata.org/wiki/Q21002696","display_name":"Broker-dealer","level":3,"score":0.566100001335144},{"id":"https://openalex.org/C2778755073","wikidata":"https://www.wikidata.org/wiki/Q10858537","display_name":"Scale (ratio)","level":2,"score":0.4722000062465668},{"id":"https://openalex.org/C2777313351","wikidata":"https://www.wikidata.org/wiki/Q1370301","display_name":"Economies of scope","level":3,"score":0.46709999442100525},{"id":"https://openalex.org/C2992701085","wikidata":"https://www.wikidata.org/wiki/Q3322597","display_name":"Security market","level":2,"score":0.43849998712539673},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3792000114917755},{"id":"https://openalex.org/C29321873","wikidata":"https://www.wikidata.org/wiki/Q5970087","display_name":"Economies of scale","level":2,"score":0.3752000033855438},{"id":"https://openalex.org/C97044346","wikidata":"https://www.wikidata.org/wiki/Q1639871","display_name":"Hybrid security","level":4,"score":0.362199991941452},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.3571999967098236},{"id":"https://openalex.org/C61047874","wikidata":"https://www.wikidata.org/wiki/Q1466447","display_name":"Private placement","level":3,"score":0.3515999913215637},{"id":"https://openalex.org/C185243290","wikidata":"https://www.wikidata.org/wiki/Q7785070","display_name":"Third market","level":3,"score":0.35100001096725464},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3208000063896179},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.28940001130104065},{"id":"https://openalex.org/C165083353","wikidata":"https://www.wikidata.org/wiki/Q282942","display_name":"Returns to scale","level":3,"score":0.2833999991416931},{"id":"https://openalex.org/C2777064627","wikidata":"https://www.wikidata.org/wiki/Q3151423","display_name":"Financial innovation","level":2,"score":0.2809000015258789},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.2702000141143799},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.25209999084472656},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.25110000371932983}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1186/s40008-025-00367-0","doi":"https://doi.org/10.1186/s40008-025-00367-0","is_oa":true,"landing_page_url":"https://doi.org/10.1186/s40008-025-00367-0","pdf_url":null,"source":{"id":"https://openalex.org/S2736629167","display_name":"Journal of Economic Structures","issn_l":"2193-2409","issn":["2193-2409"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["cwts-core","doaj","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319965","host_organization_name":"Springer Nature","host_organization_lineage":["https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Nature"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Economic Structures","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.1186/s40008-025-00367-0","doi":"https://doi.org/10.1186/s40008-025-00367-0","is_oa":true,"landing_page_url":"https://doi.org/10.1186/s40008-025-00367-0","pdf_url":null,"source":{"id":"https://openalex.org/S2736629167","display_name":"Journal of Economic Structures","issn_l":"2193-2409","issn":["2193-2409"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["cwts-core","doaj","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319965","host_organization_name":"Springer Nature","host_organization_lineage":["https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Nature"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Economic Structures","raw_type":"journal-article"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth","score":0.4337114691734314}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":30,"referenced_works":["https://openalex.org/W1499414677","https://openalex.org/W1511556051","https://openalex.org/W1970802204","https://openalex.org/W1975676186","https://openalex.org/W1977952957","https://openalex.org/W1981638120","https://openalex.org/W2020322160","https://openalex.org/W2022466295","https://openalex.org/W2024410927","https://openalex.org/W2051129154","https://openalex.org/W2053565500","https://openalex.org/W2055303871","https://openalex.org/W2058381740","https://openalex.org/W2061831630","https://openalex.org/W2076644303","https://openalex.org/W2113052243","https://openalex.org/W2114213272","https://openalex.org/W2132870677","https://openalex.org/W2140690995","https://openalex.org/W2147498116","https://openalex.org/W2508676625","https://openalex.org/W2942349344","https://openalex.org/W3033509432","https://openalex.org/W3198020657","https://openalex.org/W4241974402","https://openalex.org/W4251428838","https://openalex.org/W4307379692","https://openalex.org/W4311140975","https://openalex.org/W4319334821","https://openalex.org/W4389752797"],"related_works":[],"abstract_inverted_index":{"Abstract":[0],"Since":[1],"Japan\u2019s":[2],"recent":[3],"financial":[4],"liberalization,":[5],"online":[6,32,55,79],"securities":[7,18,33,37,56,72,80,108],"transactions":[8],"have":[9,13],"proliferated,":[10],"and":[11,28,35,47,65,88],"changes":[12],"been":[14],"promoted":[15],"in":[16,26,62,99],"the":[17,24,40,92,100,104],"industry\u2019s":[19],"structure.":[20],"This":[21],"study":[22],"investigated":[23],"differences":[25,98],"efficiency":[27,61],"scale":[29,87],"economies":[30,85],"between":[31],"firms":[34,38,57,73,81],"traditional":[36,71],"using":[39],"stochastic":[41],"metafrontier":[42,60],"approach":[43],"based":[44],"on":[45],"input":[46,64,93],"output":[48,66],"distance":[49,67,94],"functions.":[50,68],"Our":[51],"findings":[52],"indicate":[53],"that":[54],"demonstrate":[58],"higher":[59],"both":[63],"In":[69],"contrast,":[70],"exhibit":[74],"relatively":[75],"low":[76],"efficiency.":[77],"Moreover,":[78],"enjoy":[82],"exceedingly":[83],"large":[84],"of":[86,103,107],"scope":[89],"derived":[90],"from":[91],"function,":[95],"indicating":[96],"clear":[97],"business":[101],"characteristics":[102],"two":[105],"types":[106],"firms.":[109]},"counts_by_year":[],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2026-01-15T00:00:00"}
