在金融自由化的趨勢下，國內金融中介機構及其分支機構快速增加，使得金融服務業的競爭更具激烈與面臨挑戰，如何利用一套良好的評估方式進行經營效率衡量，實為金融中介機構管理者所關心之重要課題。故本研究嘗試提出以二階段資料包絡分析法來評估金融中介之經營效率，考量金融中介及機構之業務獨特性及營運資料取得不易，故本文以個案研究及利益取樣，針對國內某家金融中介機構於2003至2007年間所轄67個分支機構的經營效率進行實證分析。研究結果發現，以生產面及行銷面的二階段資料包絡分析法，適合作為金融中介機構經營效率之衡量，其評估過程的確能得出較客觀性結果。再者，受評機構整體而言有無效率狀態，而二階段生產面的表現明顯優於一階段與二階段行銷面的效率。其次，首批機構整體生產力呈現成長，但第四期起有大幅衰退的趨勢，宜提早妥善因應。最後，受評機構等級與機構性質對二階段生產面的效率表現影響較為明顯。

Under the trend of financial industry liberalization, the fast expansion process of local financial intermediation makes the competition fierce and the challenge intense. A good measurement of the operational efficiency is the core topic which the executives concern. This research suggests a two-stage data envelopment analysis to measure the operational efficiency of the financial intermediation. Due to unique nature of the business and difficult collecting the operational data of all financial intermediation, we adopt purposive sampling and case study to have empirical analysis for the 67 branches of the financial intermediation in Taiwan from 2003 to 2007. The paper shows that the two-stage data envelopment analysis measuring production and marketing performance can objectively evaluate the operational efficiency of the financial intermediation. And the overall performance of studied branches is unsatisfactory, The two-stage efficiency of production is much higher than that of both one-stage and two-stage assessments for the marketing performance. In addition, the results moreover show an overall increase in productivity, but seriously deteriorating during the fourth period. Lastly, the ranking and characteristics of the studied branches have important influences on the two-stage efficiency of production.