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題名 大陸銀行所有權與經營績效及風險關聯性 之探討
The association between ownership, performance and risk in Chinese Banking作者 許念伊
Hsu, Nien-Yi貢獻者 李佳玲
Lee, Chia-ling
許念伊
Hsu, Nien-Yi關鍵詞 所有權
非利息收入
經營績效
Ownership
Non-interest income
Performance日期 2019 上傳時間 1-Jul-2019 10:42:42 (UTC+8) 摘要 外資銀行在中國非利息收入業務之發展較早，惟其非利息收入是否能提高獲利且降低風險，均有正反兩方不同之論述。本文以透過分析2009年至2017年中國國有銀行與外資銀行為研究對象，探討所有權之差異對銀行經營績效及風險之關係，並進一步分析機構投資人之不同，對銀行非利息收入之影響。實證結果顯示：外資持股之銀行在非利息收入表現確實優於中國國有銀行、有較高的資本適足率及較低的資產風險，惟在資產報酬率及股東權益報酬率表現上不如國有銀行。非利息收入業務對銀行發展的利弊需考量許多因素，包括國家發展程度、銀行種類及銀行規模等變項，開發非利息收入業務雖能使業務種類更多元，增加報酬，但也可能加深風險與報酬間的抵換關係。透過分析中國大陸獨特的發展背景，本文應可提供外國銀行進入中國市場，或台灣佈局中國銀行業參考之指南。
The foreign-owned banks entered China earlier while the improvement from non-interest income is still not clear whether beneficial to profit and reducing the risk when comparing with state-owned banks. By analyzing the data from 2009-2017, this article revealed the truths the difference of ownership do influence the performances, risks and diverse outcomes from different institutional investors to non-interest income which leads foreign-owned banks behaves superior in capital ratio and less asset risk than Chinese government-owned banks though the ROAs and ROEs are worse than latter. The influence of non-interest income of bank development is decided by many factors, including the degree of national development, the type of bank and the size of bank. The development of non-interest income business will increase the variety of services and enhance the remuneration, but it may also deepen the trade-off between the risk and the return. By exploring unique background of Chinese banking market, this article may provide a guide for foreign banks wishing to enter Chinese markets and researchers interested in Chinese banking industry.參考文獻 卡爾沃特、法瑟侯偉，2013，中國金融大揭密，陳儀、林詠心譯，台北：臉譜出版社。李西成，2002，中國大陸金融市場發展近況的研究，台北：財團法人兩岸交流遠景基金會。林昆立與黃玉麗，2014，收益多角化對銀行是光明面還是黑暗面?全球實證，管理評論，第33期（3月）：23-51。劉常勇與李立，1998，前進大陸快易通，台北：商智文化。操海國與丁春，2018，國有商業銀行中間業務發展的影響因素及對策研究，齊齊哈爾大學學報，第2期：71-73。(DOI : 10.13971/j.cnki.cn 23-1435/c.2018.02.019Ahamed, M. M. 2017. Asset quality, non-interest income, and bank profitability: Evidence from Indian banks. Economic Modelling 63 (June)：1-14.Bian, W. L., X. N. Wang, and Q. X. Sun. 2015. Non-interest Income, Profit, and Risk Efficiencies: Evidence from Commercial Banks in China. Asia-Pacific Journal of Financial Studies 44 (October)：762-782.Boateng, A., W. Huang, and N.K. Kufuor. 2015. Commercial bank ownership and performance in China. Applied Economics 47 (May)：5320-5336.Bonin, J. P., I. Hasan, and P. Wachtel. 2005. Bank Performance, Efficiency and Ownership in Transition Countries. Journal of Banking & Finance 29 (January)： 31-53.Chen, C. R., Y. S. Huang, and T. Zhang. 2017. Non-interest Income, Trading, and Bank Risk. Journal of Financial Services Research 51 (February)：19-53.Cheng, M., H. Zhao, and M. Zhou. 2016. The effects offoreign strategic investors on business models in China’s commercial banks: does ownership structure matter. Applied Economics 48 (December)：5676-5698.Chiorazzo, V., C. Milani, and F. Salvini. 2008. Income Diversification and Bank Performance：Evidence from Italian Banks. Journal of Financial Services Research 33 (March)：181-203.Chunhachinda, P., and L. Li. 2014. Income Structure, Competitiveness, Profitability, and Risk: Evidence from Asian Banks. Review of Pacific Basin Financial Markets and Policies 17 (March)：1-23.De Young, R., and K. P. Roland. 2001. Product Mix and Earnings Volatility at Commercial Banks: Evidence from a Degree of Total Leverage Model. Journal of Financial Intermediation 10 (January)：54-84.De Young, R., and T. Rice. 2004. Noninterest Income and Financial Performance at U.S. Commercial Banks. The Financial Review 39 ( February)：101-127.Dong, Y., C. Meng, M. Firth, and W. Hou. 2014. Ownership structure and risk-taking: Comparative evidence from private and state-controlled banks in China. International Review of Financial Analysis 36 (December)：120-130.Doan, A. T., K. L. Lin, and S. C. Doong. 2018. What drives bank efficiency ? The interaction of bank income diversification and ownership. International Review of Economics & Finance 55 (May)：203-219.Drucker, S., and M. Puri. 2009. On Loan Sales, Loan Contracting, and Lending Relationships. Review of Financial Studies 22 (July)：2835-2872.Hai , J., H. Min, and J. R. Barth. 2018. On Foreign Shareholdings and Agency Costs: New Evidence from China. Emerging Markets Finance and Trade, Taylor & Francis Journals 54 (February)：2815-2833.Hidayat, W. Y., M. Kakinaka, and H. Miyamoto. 2012. Bank risk and non-interest income activities in the Indonesian banking industry. Journal of Asian Economics 23 (August)：335-343.Klein, P. G., and M. R. Saidenberg. 1998. Diversification, Organization, and Efficiency: Evidence from Bank Holding Companies. SSRN Electronic Journal 13 (August)：26.Köhler, M. 2015. Which banks are more risky? The impact of business models on bank stability. Journal of Financial Stability 16 (February)：195-212.Lepetit, L., E. Nys, P. Rous, and A. Tarazi. 2008. Bank income structure and risk: An empirical analysis of European banks. Journal of Banking & Finance 32 (August)：1452-1467.Lee, C. C., S. J. Yang, and C. H. Chang. 2014. Non-interest income, profitability, and risk in banking industry: A cross-country analysis. The North American Journal of Economics and Finance 27 (January)：48-67.Li, L., Y. Zhang. 2013. Are there diversification benefits of increasing noninterest income in the Chinese banking industry. Journal of Empirical Finance 24 (December)：151-165.Ozili, P. K., and O. Uadiale. 2017. Ownership concentration and bank profitability. Future Business Journal 3 (December)：159-171.Rosie, S., C. Staikouras, and G .E. Wood. 2003. Non-interest Income and total Income Stability. Bank of England Quarterly Bulletin 22 (August)：198.Stiroh, K. J., and A. Rumble. 2006a. The Dark Side of Diversification: The Case of US Financial Holding Companies. Journal of Banking and Finance 30 (August)：2131-2161.Stiroh, K. J. 2006b. A Portfolio View of Banking with Interest and Noninterest Activities. Journal of Money, Credit and Banking 38(August)：1351-1361.Williams, B. 2016. The impact of non-interest income on bank risk in Australia. Journal of Banking and Finance 73 (December)：16-37.Xu, Y. 2011. Towards a more accurate measure of foreign bank entry and its impact on domestic banking performance: The case of China. Journal of Banking and Finance 35 (April)：886-901.Yin, G., Y. Zhang, X. T. Zhang, and F. Hu. 2015. Does foreign bank entry make Chinese banks stronger? Global Economic Review 44 (March)：269–285.Zhou, K. 2014. The Effect of Income Diversification on Bank Risk: Evidence from China. Emerging Markets Finance and Trade 50 (March)：201-213.Zhu, W., and J. Yang. 2016. State ownership, cross-border acquisition, and risk-taking: Evidence from China’s banking industry. Journal of Banking and Finance 71 (December)：133-153. 描述 碩士
國立政治大學
會計學系
106353113資料來源 http://thesis.lib.nccu.edu.tw/record/#G0106353113 資料類型 thesis dc.contributor.advisor 李佳玲 zh_TW dc.contributor.advisor Lee, Chia-ling en_US dc.contributor.author (Authors) 許念伊 zh_TW dc.contributor.author (Authors) Hsu, Nien-Yi en_US dc.creator (作者) 許念伊 zh_TW dc.creator (作者) Hsu, Nien-Yi en_US dc.date (日期) 2019 en_US dc.date.accessioned 1-Jul-2019 10:42:42 (UTC+8) - dc.date.available 1-Jul-2019 10:42:42 (UTC+8) - dc.date.issued (上傳時間) 1-Jul-2019 10:42:42 (UTC+8) - dc.identifier (Other Identifiers) G0106353113 en_US dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/124116 - dc.description (描述) 碩士 zh_TW dc.description (描述) 國立政治大學 zh_TW dc.description (描述) 會計學系 zh_TW dc.description (描述) 106353113 zh_TW dc.description.abstract (摘要) 外資銀行在中國非利息收入業務之發展較早，惟其非利息收入是否能提高獲利且降低風險，均有正反兩方不同之論述。本文以透過分析2009年至2017年中國國有銀行與外資銀行為研究對象，探討所有權之差異對銀行經營績效及風險之關係，並進一步分析機構投資人之不同，對銀行非利息收入之影響。實證結果顯示：外資持股之銀行在非利息收入表現確實優於中國國有銀行、有較高的資本適足率及較低的資產風險，惟在資產報酬率及股東權益報酬率表現上不如國有銀行。非利息收入業務對銀行發展的利弊需考量許多因素，包括國家發展程度、銀行種類及銀行規模等變項，開發非利息收入業務雖能使業務種類更多元，增加報酬，但也可能加深風險與報酬間的抵換關係。透過分析中國大陸獨特的發展背景，本文應可提供外國銀行進入中國市場，或台灣佈局中國銀行業參考之指南。 zh_TW dc.description.abstract (摘要) The foreign-owned banks entered China earlier while the improvement from non-interest income is still not clear whether beneficial to profit and reducing the risk when comparing with state-owned banks. By analyzing the data from 2009-2017, this article revealed the truths the difference of ownership do influence the performances, risks and diverse outcomes from different institutional investors to non-interest income which leads foreign-owned banks behaves superior in capital ratio and less asset risk than Chinese government-owned banks though the ROAs and ROEs are worse than latter. The influence of non-interest income of bank development is decided by many factors, including the degree of national development, the type of bank and the size of bank. The development of non-interest income business will increase the variety of services and enhance the remuneration, but it may also deepen the trade-off between the risk and the return. By exploring unique background of Chinese banking market, this article may provide a guide for foreign banks wishing to enter Chinese markets and researchers interested in Chinese banking industry. en_US dc.description.tableofcontents 第一章 緒論 1第一節 研究動機及目的 1第二節 中國銀行業改革的過程 2第三節 中國銀行業非利息收入發展脈絡 5第二章 文獻探討 10第一節 定義與探討 10第二節 非利息收入對銀行績效之影響 15第三節 非利息收入對銀行風險之探討 16第四節 外資持股對銀行績效及風險之影響 20第三章 研究方法 24第一節 假說發展 24第二節 樣本資料來源 26第三節 變數選取與定義 27第四節 迴歸模型之設計 30第四章 實證分析與結果 32第一節 敘述性統計 32第二節 實證分析與結果 36第五章 結論與建議 42參考文獻 45 zh_TW dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0106353113 en_US dc.subject (關鍵詞) 所有權 zh_TW dc.subject (關鍵詞) 非利息收入 zh_TW dc.subject (關鍵詞) 經營績效 zh_TW dc.subject (關鍵詞) Ownership en_US dc.subject (關鍵詞) Non-interest income en_US dc.subject (關鍵詞) Performance en_US dc.title (題名) 大陸銀行所有權與經營績效及風險關聯性 之探討 zh_TW dc.title (題名) The association between ownership, performance and risk in Chinese Banking en_US dc.type (資料類型) thesis en_US dc.relation.reference (參考文獻) 卡爾沃特、法瑟侯偉，2013，中國金融大揭密，陳儀、林詠心譯，台北：臉譜出版社。李西成，2002，中國大陸金融市場發展近況的研究，台北：財團法人兩岸交流遠景基金會。林昆立與黃玉麗，2014，收益多角化對銀行是光明面還是黑暗面?全球實證，管理評論，第33期（3月）：23-51。劉常勇與李立，1998，前進大陸快易通，台北：商智文化。操海國與丁春，2018，國有商業銀行中間業務發展的影響因素及對策研究，齊齊哈爾大學學報，第2期：71-73。(DOI : 10.13971/j.cnki.cn 23-1435/c.2018.02.019Ahamed, M. M. 2017. Asset quality, non-interest income, and bank profitability: Evidence from Indian banks. Economic Modelling 63 (June)：1-14.Bian, W. L., X. N. Wang, and Q. X. Sun. 2015. Non-interest Income, Profit, and Risk Efficiencies: Evidence from Commercial Banks in China. Asia-Pacific Journal of Financial Studies 44 (October)：762-782.Boateng, A., W. Huang, and N.K. Kufuor. 2015. Commercial bank ownership and performance in China. Applied Economics 47 (May)：5320-5336.Bonin, J. P., I. Hasan, and P. Wachtel. 2005. Bank Performance, Efficiency and Ownership in Transition Countries. Journal of Banking & Finance 29 (January)： 31-53.Chen, C. R., Y. S. Huang, and T. Zhang. 2017. Non-interest Income, Trading, and Bank Risk. Journal of Financial Services Research 51 (February)：19-53.Cheng, M., H. Zhao, and M. Zhou. 2016. The effects offoreign strategic investors on business models in China’s commercial banks: does ownership structure matter. Applied Economics 48 (December)：5676-5698.Chiorazzo, V., C. Milani, and F. Salvini. 2008. Income Diversification and Bank Performance：Evidence from Italian Banks. Journal of Financial Services Research 33 (March)：181-203.Chunhachinda, P., and L. Li. 2014. Income Structure, Competitiveness, Profitability, and Risk: Evidence from Asian Banks. Review of Pacific Basin Financial Markets and Policies 17 (March)：1-23.De Young, R., and K. P. Roland. 2001. Product Mix and Earnings Volatility at Commercial Banks: Evidence from a Degree of Total Leverage Model. Journal of Financial Intermediation 10 (January)：54-84.De Young, R., and T. Rice. 2004. Noninterest Income and Financial Performance at U.S. Commercial Banks. The Financial Review 39 ( February)：101-127.Dong, Y., C. Meng, M. Firth, and W. Hou. 2014. Ownership structure and risk-taking: Comparative evidence from private and state-controlled banks in China. International Review of Financial Analysis 36 (December)：120-130.Doan, A. T., K. L. Lin, and S. C. Doong. 2018. What drives bank efficiency ? The interaction of bank income diversification and ownership. International Review of Economics & Finance 55 (May)：203-219.Drucker, S., and M. Puri. 2009. On Loan Sales, Loan Contracting, and Lending Relationships. Review of Financial Studies 22 (July)：2835-2872.Hai , J., H. Min, and J. R. Barth. 2018. On Foreign Shareholdings and Agency Costs: New Evidence from China. Emerging Markets Finance and Trade, Taylor & Francis Journals 54 (February)：2815-2833.Hidayat, W. Y., M. Kakinaka, and H. Miyamoto. 2012. Bank risk and non-interest income activities in the Indonesian banking industry. Journal of Asian Economics 23 (August)：335-343.Klein, P. G., and M. R. Saidenberg. 1998. Diversification, Organization, and Efficiency: Evidence from Bank Holding Companies. SSRN Electronic Journal 13 (August)：26.Köhler, M. 2015. Which banks are more risky? The impact of business models on bank stability. Journal of Financial Stability 16 (February)：195-212.Lepetit, L., E. Nys, P. Rous, and A. Tarazi. 2008. Bank income structure and risk: An empirical analysis of European banks. Journal of Banking & Finance 32 (August)：1452-1467.Lee, C. C., S. J. Yang, and C. H. Chang. 2014. Non-interest income, profitability, and risk in banking industry: A cross-country analysis. The North American Journal of Economics and Finance 27 (January)：48-67.Li, L., Y. Zhang. 2013. Are there diversification benefits of increasing noninterest income in the Chinese banking industry. Journal of Empirical Finance 24 (December)：151-165.Ozili, P. K., and O. Uadiale. 2017. Ownership concentration and bank profitability. Future Business Journal 3 (December)：159-171.Rosie, S., C. Staikouras, and G .E. Wood. 2003. Non-interest Income and total Income Stability. Bank of England Quarterly Bulletin 22 (August)：198.Stiroh, K. J., and A. Rumble. 2006a. The Dark Side of Diversification: The Case of US Financial Holding Companies. Journal of Banking and Finance 30 (August)：2131-2161.Stiroh, K. J. 2006b. A Portfolio View of Banking with Interest and Noninterest Activities. Journal of Money, Credit and Banking 38(August)：1351-1361.Williams, B. 2016. The impact of non-interest income on bank risk in Australia. Journal of Banking and Finance 73 (December)：16-37.Xu, Y. 2011. Towards a more accurate measure of foreign bank entry and its impact on domestic banking performance: The case of China. Journal of Banking and Finance 35 (April)：886-901.Yin, G., Y. Zhang, X. T. Zhang, and F. Hu. 2015. Does foreign bank entry make Chinese banks stronger? Global Economic Review 44 (March)：269–285.Zhou, K. 2014. The Effect of Income Diversification on Bank Risk: Evidence from China. Emerging Markets Finance and Trade 50 (March)：201-213.Zhu, W., and J. Yang. 2016. State ownership, cross-border acquisition, and risk-taking: Evidence from China’s banking industry. Journal of Banking and Finance 71 (December)：133-153. zh_TW dc.identifier.doi (DOI) 10.6814/NCCU201900024 en_US
