金融控股公司經營效率評估之研究—以本國上市(櫃)金控公司為例

Study on the Performance of Operational Efficiency for Bank Holding Company－Publicly Listed Companies on Taiwan Stock Exchange and Over-the-Counter Market

紀台英(Tai-Ying Chi)

指導教授 ： 胡為善

中原大學/商學院/企業管理研究所/碩士(2003年)

https://doi.org/10.6840/cycu200300519

摘要

摘 要
在金融自由化的趨勢下，國內銀行家數及其分支機構快速的增加，使得我國金融業間的競爭更為激烈。如何就銀行之經營效率進行評估，實為政府主管機關、銀行之經營者、投資者人等利害關係人所關心之重要課題。
本研究主要在界定銀行業投入及產出變數，過程中係採用投入變數：「普通股股本」、「營業費用」、「利息支出」等三項，而產出變數為「營業收入」、「淨值」等。並利用資料包絡分析法vDEAw建立效率評估模式，經由DEA中CCR模式求算個別銀行之總技術效率（AE），再透過差額變數分析vSlack Variable Analysisw，探討相關無效率金控其缺失所在，將過多的投入量減少及過少的產出量增加，此外，研究用BCC模式求算個別銀行之純粹技術效率（PTE）與規模效率（SE），以瞭解是否為規模或技術無效率。並透過規模報酬分析求得個別金控應擴張、維持或減少生產規模，以提高經營效率。本研究選定之投入變數為「普通股股本」、「營業費用」、「利息支出」等三項，而產出變數為「營業收入」、「淨值」等，並透過DEA模式中的CCR模式、BCC模式求算各樣本銀行之效率值。
因我國金融控股公司大多自民國90年底才開始營運，故本研究之研究期間則選擇民國91年之半年合併報表為主資料進行評估，實證結果評估此十二家業者，以觀察其效率情況。其中我們可以發現發現有部分新成立之金融控股公司的經營效率值皆相對落後，例如：開發金融控股公司、復華金融控股公司、國票金融控股公司、建華金融控股公司；而相對效率相對皆達效率前緣者有國泰金、兆豐、新光，再再顯示了規模對於金融控股公司的重要性，表現相對於其他公司是非常優秀的。

關鍵字

金融控股公司 ； 資料包絡分析法 ； 經營績效

並列摘要

Abstract
Under the trend of financial liberalization, the number of domestic banks and branches increases rapidly, thus, the competition of domestic banks has become more and more intensive. How to evaluate the efficiency of operating banks becomes an important issue for the government, banking managers and all investors.

This study explores the input and output variables in the banking industry. After using Slack Variable Analysis, this investigation discusses the deficiencies of ineffective financial holding companies, decreases the glut of inputs, and increases the inordinate loss of outputs. In addition, this study uses the BCC model to calculate PTE and SE of the individual banks and find the factors of inefficiency are mainly caused from scale or technique. From Scale Return Analysis, this work attempts to explore whether the individual investment company should expand, maintain, or decline the scale of production in order to improve the efficiency of operation. The input variables which these investigations chosen are equity, operating expenses and interest expenses, and the output variables are operating revenue and net value. Based on the CCR model and BCC model of DEA, this study calculates the efficiency value of each sample bank.

Because most domestic bank holding companies have been established at the end of 2001, this work concentrates the whole year of 2002, and employing the consolidated financial reports to evaluate those financial holding companies and to observe the operating efficiency of each financial holding company. The results show that some “new” financial holding companies do not have a better efficient performance than “old” financial holding companies. For example, China Development Financial Holding Corporation, Fuhwa Financial Holding Company, Waterland Financial Holding Company and SinoPac Holding Company are relatively inefficient. However, the “larger” size financial holding companies such as Cathay Financial Holding Company, Mega Holding Company and Shin Kong Financial Holding Co., have better efficient performance. It implied that scale or size seems to be an important factor for evaluating the performance of financial holding companies.

並列關鍵字

Financial Holding Company ； Data Envelopment Analysis ； firm perfomance

參考文獻

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