金融機構跨業經營架構之比較分析-金融控股公司與綜合銀行

An Analysis and Comparison of the Structure of Cross- Business Organization for Financial Industry – Financial Holding Company vs. Universal Bank

車榮源(Johnson Che)

指導教授 ： 李存修

國立臺灣大學/管理學院/財務金融學研究所/碩士(2006年)

https://doi.org/10.6342/NTU.2006.02845

摘要

摘要

近年來，金融產業為了提升競爭力，順應時勢潮流與環境的需求，無不朝向
跨業整併與大型化的方向發展；綜觀全球金融產業跨業的經營模式，可以發現主要有兩大區塊，一是屬於歐洲大陸方面的綜合銀行形式，另外一大區塊則是美日為主的金融控股公司模式。同樣屬於跨業經營，但全球的金融產業卻區分為兩種不同的經營架構，因此，本研究希望能透過財務報表與公開市場資訊取得量化指標以及利用深度訪談和問卷調查的方式取得質化指標，藉此來對金融控股公司與綜合銀行的經營績效作比較，以了解這兩種不同的經營架構是否有明確的優劣之分。本研究結果如下：
一、 在財務與市場價值等量化指標研究方面，綜合銀行與金融控股公司在不同的指標上面表現各有所長，並未有一方具有絕對優勢，但綜合銀行的表現略優於金融控股公司。
二、 在以金融機構人員為受訪者所做的問卷調查，利用質化的六大面向指標來做分析時，則是以金融控股公司表現較優於綜合銀行。
政策面之建議：
由本研究的結論可以發現，金融控股公司與綜合銀行各有所長，因此建議政府可開放多軌並行，由業者選擇對其最有利的跨業經營模式，而非僅容許金融控股公司ㄧ途；目前研議中之「金融服務法」似有此一多軌並行之雛型。

關鍵字

金融機構跨業經營架構

並列摘要

Abstract

In the dynamic world of today, modern financial institutions are increasingly more competitive and their services more versatile. In order to survive the ever-changing business environment, most major financial institutions have followed the prevalent trend of merger and acquisition to strengthen their competitiveness. Even so, financial institutions around the world have parted their cross-business structure into two main models: Universal Bank of the European region, and the Financial Holding Company of the US and Japan. This paper will first discuss related publications and the quantitative aspect of selected financial institutions for a general performance evaluation of cross-business structure of both Universal Bank and Financial Holding; and then analyze the various qualitative aspects of Universal Bank and Financial Holding Company, through the eyes of industry professionals, to provide additional statistics to the compatibility of both cross-business structures with added scale and scope as the basis of a intensive examination of the advantages and disadvantages of Universal Bank and Financial Holding Company.

Research findings:
1. Currently available studies and publicly obtained financial information of the industry tend to rate Universal Banks slightly more advantageous than Financial Holding Companies.
2. Data obtained from an exclusively designed survey for this paper, which materialized financial industry professionals’ insight on six intangible aspects of the differences between UB and FHC, reveals a preference for Financial Holding Companies.

Policy implication:
1. This research concluds that both Financial Holding Company and Universal Bank have their strong points. Therefore it is suggested that the government develop a multi-axles policy in which to allow each financial institution to choose its most advantageous cross-business structure. At present, the discussion of a new “Financial Service Law" is hoped to give Taiwan financial industry more choice and freedome as suggested.

並列關鍵字

FHC ； Universal Bank

參考文獻

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