低利率時代台灣地區金控子銀行績效之研究

Abstract

我國政府為鼓勵金控之成立，在2000年公布「金融機構合併法」，2001年再公布「金融控股公司法」，放寬金融機構對於跨業經營的限制，在經過金融控股公司成立後，台灣銀行業進入穩定發展之局面。然2008年發生金融風暴後，全球金融業烏雲慘淡，我國中央銀行從2008年起配合全球央行政策趨勢，持續採低利率措施，隨著利率下滑，銀行已無法再從傳統的信貸和儲蓄業務取得高利潤，降至幾近谷底的利率已侵蝕銀行業獲利空間，導致銀行需改變經營模式來獲得更高收益率，來彌補低利造成的獲利減少。\n本研究利用資料包絡分析法(DEA)中的CCR 模式及BCC模式進行分析，再進行敏感度分析以及以Tobit迴歸分析，針對2015年至2017年台灣15家金融控股子銀行，探討影響其經營績效以及影響效率之因素。經研究後發現:\n一、在CCR模式分析結果中，從2015年至2017年間，台北富邦、華南銀行、中國信託、兆豐商銀、第一銀行、台新銀行及臺灣銀行其效率值皆為1，係為整體技術有效率。\n二、在BCC模式分析結果中，從2015年至2017年間，凱基銀行、新光銀行、台北富邦、華南銀行、中國信託、兆豐商銀、第一銀行、台新銀行、日盛銀行、元大銀行、合作金庫及臺灣銀行其效率值皆為1，顯示以上銀行之投入項皆獲得有效利用。\n三、SE模式分析結果中，從2015年至2017年間，台北富邦、華南銀行、中國信託、兆豐商銀、第一銀行、台新銀行及臺灣銀行其效率值皆為1，已達到最適生產規模。\n四、以Tobit迴歸分析發現影響金控績效之逾期比率、存放比率（母公司）、資本適足率(BIS)三項變數，結果僅資本適足率呈顯著。

In order to encourage the establishment of financial holdings` subsidiaries, the Taiwan government promulgated the "Financial Institutions Merger Law" in 2000 and the "Financial Holding Company Law" in 2001. The implementation of the laws relaxed the restrictions on cross-industry operations of financial institutions. After the establishment of financial holdings` subsidiaries, Taiwan`s banking industry has entered a stable development period. However, the financial crisis in 2008 strongly frustrated the global financial industry. The Central Bank of the Republic of China’s interest rates have become low since 2008. With interest rates falling, banks can no longer make high profits from traditional credit and savings businesses. The leading banks needs to change their business models to compensate the loss caused by low profits.\nIn order to study the impact of 15 financial holding subsidiary banks in Taiwan from 2015 to 2017, this thesis uses the CCR model and the BCC model of the data envelopment analysis method (DEA), sensitivity analysis, and Tobit regression analysis to do the analysis. The results as below:\n1. The analysis results of the CCR model shows that Taipei Fubon Bank, Hua Nan Bank, Chinatrust Bank, Mega Bank, First Bank, Taishin Bank and Taiwan Bank all had an efficiency value of 1 from 2015 to 2017, which is an overall Technical efficiency.\n2. The analysis results of the BCC model shows that KGI Bank, Shin Kong Bank, Taipei Fubon Bank, Hua Nan Bank, Chinatrust Bank, Mega Bank, First Bank, Taishin Bank, JihSun Bank, Yuanta Bank, Taiwan Cooperative Bank and Taiwan Bank are all had an efficiency value of 1 from 2015 to 2017, which indicating that the investment of the above banks has been effectively used.\n3. The analysis results of the SE model shows that Taipei Fubon Bank, Hua Nan Bank, Chinatrust Bank, Mega Bank, First Bank, Taishin Bank and Taiwan Bank are all had an efficiency value of 1 from 2015 to 2017, which indicating that the investment of the above banks has been optimal production scale.\n4. This thesis uses Tobit regression analysis to define the overdue ratio, deposit ratio , and capital adequacy ratio as independent variables that affect the performance of financial controls. Only the capital adequacy ratio was significant.