本文建構2001年第一季至2010年第三季的國內30家上市(櫃)銀行之balanced panel data。首先,運用資料包絡法(data envelope analysis, DEA)求算效率值作為績效之代理變數,比較購併與非購併銀行之經營效率。進一步使用Malmquist生產力指數(malmquist productivity index, MPI)衡量購併與非購併銀行生產力變動情形,作為績效之代理變數。其次,進一步與傳統財務績效指標如資產報酬率、股東權益報酬率及Tobin's Q,比較探討影響績效指標之決定因素,除納入過去文獻較少探討之集中度變數、公司治理變數及金控法實施前後之虛擬變數外,另納入非財務之總體環境變數,使研究更具完整性。最後,篩選panel data的固定或隨機效果模型進行實證。
This paper aims to build balanced panel data among 30 banks from the first quarter in 2001 to the third quarter in 2010. First, this study uses the data envelopment analysis to calculate the efficiency values as proxy of performance to compare with merger and non-merger banks' operating efficiency. Furthermore, we use the malmquist productivity index to measure productivity change. Then we construct the traditional financial performance indicators of return on asset, return on equity, and the Tobin's Q that were rarely discussed in previous literatures. Second, this study considers the determinants of performance indicators. Besides the concentration variable, corporate governance variables, and the financial holding company law, this study takes into account the microeconomic variables, so that this research becomes more integrated. Finally, we select the optimal panel data model for further empirical analysis.