運用隨機共同邊界模型比較我國金控與非金控銀行之生產效率－考慮要素內生性問題

Applying the Stochastic Meta-frontier Model to Compare Production Efficiencies of Financial Holding Banks and Non-Financial Holding Banks in Taiwan in the Presence of Endogenous Inputs

黃台心(Tai-Hsin Huang) ； 黃國睿(Kuo-Jui Huang) ； 鄭人瑋(Ren Wei Jeng)

《經濟論文叢刊》 51卷1期 (2023/01) Pp. 15-57

https://doi.org/10.6277/TER.202301_51(1).0002

摘要

本研究運用Huang, Huang, and Liu（2014）提出之隨機共同邊界模型，比較我國金控與非金控銀行生產效率；採用Amsler, Prokhorov, and Schmidt（2016）的方法解決隨機生產邊界模型有內生生產要素問題，容許無效率項受到外生環境變數之影響，必須另行推導機率密度函數。群組邊界估計結果，發現增設分行不利樣本銀行提升技術效率；民營銀行的效率優於泛公營銀行；金控銀行不支持寧靜生活假說；存放款利差越大的非金控銀行，技術效率越佳；產品多樣化僅對非金控銀行有利。共同邊界模型發現金控銀行無效率主因是欠缺管理能力，非金控銀行主因是採用較差生產技術；樣本期間內生產效率有改善趨勢。

關鍵字

內生性生產要素 ； 環境變數 ； 隨機共同邊界 ； 寧靜生活假說 ； 生產技術

並列摘要

This paper applies the stochastic meta-frontier model, developed by Huang, Huang, and Liu (2014), to compare the production efficiency of Taiwan's financial holding banks (FHBs) with non-financial holding banks (NFHBs). We solve the problem of endogenous inputs using the method proposed by Amsler, Prokhorov, and Schmidt (2016), which links the inefficiency term with a set of environmental variables, and derive the required probability density function. Based on group frontiers, it is found that the increase in the number of branches fails to enhance a bank's efficiency, private banks outperform pan-public banks, FHBs reject the quiet-life hypothesis, NFHBs with a higher net interest margin have higher efficiency, and product diversification improves efficiency of NFHBs only. According to the results from the meta-frontier model, the main source of inefficiency for FHBs comes from the lack of managerial abilities, while the adoption of inferior technology is the primary source of inefficiency for NFHBs. It is also found that production inefficiency lessened during the sample period.

並列關鍵字

endogenous inputs ； environmental variables ； stochastic meta-frontier ； quiet life hypothesis ； production technology

參考文獻

張景福與劉錦添 (2013), “人力資本與技術效率: 台灣製造業之實證研究,” 《人文及社會科學集刊》, 25(2), 307-344。 (Chang, Ching-Fu and Jin-Tian Liu (2013),“The Impact of Human Capital on Technical Efficiency: Evidence from Taiwan’s Manufacturing Industry,” Journal of Social Sciences and Philosophy, 25(2), 307-344.)

陳柏琪與顏晃平 (2018), “台灣銀行業經營效率之分析 — 共用投入下網絡資料包絡分析法之應用,” 《應用經濟論叢》, 104, 139-183。 (Chen, Po-Chi and Huang-Ping Yen (2018),“Efficiency of Taiwanese Banking: An Application of a Two-stage Network System with Shared Inputs and Undesirable Outputs,” Taiwan Journal of Applied Economics, 104, 139-183.)

黃台心, 王允立, 與黃國睿 (2022), “運用網絡隨機共同邊界模型與關聯結構法比較我國金控與非金控銀行經營效率,” 《人文及社會科學集刊》, 34(2), 301-344。 (Huang, Tai-Hsin and Yun-Li Wang and Kuo-Jui Huang (2022),“Comparing the Efficiency of Taiwan’s FHBs and Non-FHBs in the Context of the Network Stochastic Metafrontier Model and Copula Methods,” Journal of Social Sciences and Philosophy, 34(2), 301-344.)

黃台心, 張寶光, 與邱郁芳 (2009), “應用共同成本函數探討東亞六國銀行業之生產效率,” 《經濟論文》, 37(1), 61-100。 (Huang, Tai-Hsin and Bao-Guang Chang and Yu-Fang Chiu (2009),“An Examination of Banks’ Efficiency for Six Asian Countries Using the Metafrontier Cost Function,” Academia Economic Papers, 37(1), 61-100.)

黃台心, 陳禹伶, 與邱義晃 (2020), “運用隨機共同成本邊界函數聯合估計中國銀行業之成本效率及市場競爭度,” 《經濟論文》, 48(3), 373-412。(Huang, Tai-Hsin and Yu-Ling Chen and Yi-Huang Chiu (2020),“Jointly Estimating the Meta-frontier Cost Function and Price Equation to Examine the Chinese Banking Industry Industrial apos Cost Efficiency and Market Competition,” Academia Economic Papers, 48(3), 373-412.)