- 學位論文
以CAMELS 模式分析高雄市基層農會信用部經營績效之研究
A Study on the CAMELS Model for Management Performance of the Credit Departments of Farmers' Associations in Kaohsiung City
若您是本文的作者，可授權文章由華藝線上圖書館中協助推廣。
摘要
農會的起源距今已逾一個世紀之久，史料所載台灣第一個農會為現在新北市三峽區創設。台灣以農立國，隨著時間的推移和城市的迅速發展，即便早已進入工、商、服務業的新紀元，農會歷經2000年、2004年所推動的一次、二次金融改革，部分農會信用部被併入當時的公股行庫，慶幸的是後來這些被併的農會信用部陸陸續續又恢復營業。故此，農會信用部著實關係地方基層金融的發展，為免重蹈覆轍，探討農會的經營績效成為不可或缺的一環。 本文以美國聯邦金融機構檢查委員會(FFIEC)所採用金融機構統一評等制度CAMELS評比模型及灰關聯分析法來評估基層農會信用部的財務與經營績效。 首先，將高雄市26家基層農會依各鄉鎮市區的發展型態分三類型，在都市型，以仁武區農會經營績效最佳，競爭力最強，在資本適足性、資產品質、經營品質、獲利能力及市場風險敏感性等各構面有其重要性；在綜合型，以燕巢區農會信用部經營績效最佳，成績斐然，在放款資產品質、資金流動性及市場風險敏感性佔其重要性，其次為茄萣區農會及梓官區農會，分別在獲利能力及經營品質有突出的表現；在偏鄉型，以美濃區農會信用部經營績效最佳，尤其在員工獲利能力、流動資產及利率敏感性正缺口等指標有其重要性。 在國際環境驟變下，2019年爆發的嚴重特殊傳染性肺炎(COVID-19)，因經濟受到衝擊，許多金融機構因央行利率調降1碼而遭受損失、政府放款紓困政策推進、2022年中央銀行為抗通膨穩定物價，利率共調升2.5碼，2023年調升0.5碼，首當其衝是貸款戶，隱藏著未來是否更多呆帳，在面對這市場升息風險下，如仁武區、岡山區、燕巢區、茄萣區、梓官區及美濃區農會等較能安然度過，有足夠的風險承擔能力，不致於措手不及，在市場利率上升時期亦可以快速增長盈餘。 相反的，經營績效較差的農會，例如小港區、湖內區、杉林區等農會，淨值偏低，承擔經營風險能力薄弱，恐危及農會經營安全，需加強每項指標，強化淨值資本，提升資產的利用率（如提高存放比），創造更多的盈餘，才能寬提放款備抵呆帳及穩固資本，聚沙成塔、集腋成裘，穩健自身農會的淨值及財務狀況，可避免因金融風暴災害而造成不可挽回的局面。 再者，進行單因子變異數分析（ANOVA）後發現，在CAMELS六大構面中，都市型農會在定期性存款比率及存放比率顯著高於偏鄉型；在效率比率及流動準備率顯著低於偏鄉型，即只有在經營品質及流動性構面上才顯現出都市與偏鄉農會之差異。 最後，將高雄市26家基層農會整體進行分析，發現仁武區農會信用部經營績效為最佳，在備抵呆帳覆蓋率及流動比率，具有其重要性；反之，杉林區農會信用部經營績效為最差，地處偏鄉地區，造就許多構面都不及都市農會優秀，在資產品質及經營品質構面都非常不理想。為縮短城鄉發展之差距，偏鄉農會自身改善及進步外，政府可多注入偏鄉農會之資源，給予適當的補助政策，有望縮短鄉城差距，讓各區能均衡發展。
並列摘要
The origin of farmers' associations dates back over a century. According to historical records, the first farmers' association in Taiwan was established in the present-day Sanxia District of New Taipei City. Taiwan is a country based on agriculture. Despite the lapse of time and the rapid development of urban areas, farmers' associations still play vital roles in various regions of Taiwan even in the new era dominated by industry, commerce, and service industries. While credit departments of some farmers' associations were merged into public banks due to the financial reforms of 2000 and 2004, fortunately, many of these merged departments gradually resumed operations later on. Therefore, it can be seen that credit departments of farmers' associations indeed influence the development of community finance in local areas. To avoid repeating the past mistakes, exploring the management performance of farmers' associations has become an indispensable aspect. This study evaluates the financial and operational conditions of community farmers' associations utilizing the CAMELS rating model adopted by the Federal Financial Institutions Examination Council (FFIEC) of the United States and Grey Relational Analysis (GRA). To begin with, the 26 farmers' associations in Kaohsiung City are typed into three categories based on the development patterns of each township or district as follows. Firstly, in the urban category, Renwu District Farmers' Association ranks first, demonstrating outstanding performance in many aspects such as capital adequacy, asset quality, management quality, earnings and sensitivity. Secondly, in the integrated category, Yanchao District Farmers' Association secures the top position with remarkable financial performance. Its credit department demonstrates robust loan asset quality, liquidity, and market risk sensitivity. Following closely are Qieding District and Zihguan District Farmers' Associations, which exhibit outstanding performance in earnings and management quality. Lastly, in the rural category, Meinong District Farmers' Association leads by a considerable margin, particularly excelling in employee profitability, liquidity, and interest rate sensitivity gap. In the rapidly changing international environment, the outbreak of the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) in 2019, known as COVID-19, has had a significant impact on the economy. In order to alleviate the impact, the central bank lowered interest rates by 0.25%, which resulted in losses for financial institutions, and the government advanced relief policies for loans. However, in 2022, the central bank raised interest rates by a total of 0.625% to combat inflation and stabilize prices, followed by an additional 0.125% increase in 2023, affecting loan recipients directly. This situation conceals the looming crisis of potential future bad debts. Faced with the risk of rising interest rates in the market, well-performing farmers' associations, such as Renwu District, Gangshan District, Yanchao District, Qieding District, Zihguan District, and Meinong District Farmers' Associations, are better positioned to weather the storm. This is because they possess sufficient risk-bearing capacity to avoid being caught off guard, and can swiftly increase earnings during periods of rising market rates. On the contrary, farmers' associations with weaker indicator scores, such as Siaogang District, Hunei District, and Shanlin District Farmers' Associations, have lower net worth and weaker capacity to withstand operational risks, which may compromise the safety of their operations. They must strengthen each indicator, enhance net worth capital, and improve asset utilization, such as increasing the deposit-to-loan ratio, to generate more earnings. Thus, loan loss provisions can be increased and capital can be stabilized to secure the net worth and financial condition of the farmers' associations. This is to prevent a recurrence of history, avoiding irreparable situations caused by financial crises. Moreover, after conducting one-way ANOVA analysis, it was found that among the six CAMELS dimensions, urban farmers' associations have significantly higher time deposits ratios and deposit-to-loan ratios compared to rural ones. However, they exhibited significantly lower efficiency ratios and liquidity preparation ratios than rural farmers’ associations. This indicates that the differences between urban and rural associations were only apparent in the dimensions of management quality and liquidity. Finally, after conducting one-way ANOVA analysis, it was found that In conclusion, an overall analysis of the 26 farmers' associations in Kaohsiung City reveals that the credit department of Renwu District Farmers' Association has the best operating performance, particularly in terms of provision coverage ratio and liquidity ratio, highlighting its significance. In contrast, the credit department of Shanlin District Farmers' Association shows the poorest operating performance. Due to its location in a remote area, it lags behind urban farmers' associations in many aspects, with particularly unsatisfactory asset quality and management quality. Therefore, to narrow the urban-rural development gap, in addition to self-improvement and progress by rural farmers’ associations, the government can inject more resources into rural farmers' associations and provide appropriate subsidy policies, which are expected to reduce the urban-rural gap and facilitate balanced development across all regions.