臺灣金融控股產業競爭分析—策略群組結構關係與動態發展之觀點

臺灣在全球金融體系中的演進與發展逐漸邁向國際化、自由化、集團化的過程中，為了使臺灣金融體系朝向更加健全的發展，進行了一連串的金融改革來因應。業者透過成立金融控股公司的模式來提升子公司間的整併、使單一集團的市佔率增加，進而促使規模經濟的形成，如此一來不僅能更有效率的管理和運作，相較其他未結盟形成金控體系的公司而言也能有效降低營運成本，達到交叉銷售的整體服務，發揮整體經營綜效。本研究透過文獻及實務的探討，認為「交叉銷售」在金控產業中是重要的經營概念，故將此指標納入研究構面。對於臺灣地區的金融控股業者而言，要如何在這競爭劇烈的金融控股產業中生存，釐清自己與競爭對手在市場中的位置與變化，以及如何制定未來策略的走向，會是金融控股公司必須深思熟慮的主要議題。本研究針對台灣16間金融控股公司，以策略群組的理論架構來進行探討與分析，並以台灣金融控股產業的績效指標作為分群的依據，其中所選取之研究構面是依據現有研究文獻與產業實務特色作為所選取構面之基礎。資料選取自2011年至2016年各金融控股公司之TEJ所提出之原始數據，並透過Co-plot（合圖法）統計分析方法得出各年度與多年度的分群結果。依據Co-plot所呈現出的結果圖可得知各群組的特徵與成員組成，也能進一步了解在產業中不同年份的動態發展與移動軌跡，以便對台灣金融控股產業做更宏觀的探討與分析。本研究將台灣金融控股公司六年的績效表現放入Co-plot中進行分析而得出結果圖，並將台灣金融控股公司產業劃分為四大群組，分別為「市場領先群」、「結構穩定群」、「績效聚焦群」以及「市場落後群」。從Co-plot的策略群組分析圖中可得知，每一年金融控股公司的結構狀態與多年的移動軌跡，並得出各金融控股公司在每一年中所做的策略變化與發展趨勢。本研究也從策略軌跡中分為兩種不同移動狀態的類別，分別為「群組內策略軌跡變化明顯者」與「群組內策略軌跡變化不明顯者」等兩種不同類別的移動狀態。因此，本研究之結果有助於各金融控股公司釐清自身在產業中所處的競爭位置與實際對應的競爭對手，並調整所要因應與預應的競爭策略與未來發展方向，以增加自身金融控股公司的核心競爭力與動態優勢。

關鍵字

臺灣；金融控股公司；策略群組；合圖法

並列摘要

As the global financial system evolves toward internationalization, liberalization, collectivization and enlargement, Taiwan has made a series of financial reforms to make the financial system healthier development. Through the establishment of a financial holding company, the industry will enhance the integration between subsidiaries and increase the market share of a single group. Not only can operate the company more effectively, but also can effectively reduce operating costs and achieve cross-selling service. Through the literature and practice, this study considers that “cross-selling” is an important business concept in the financial holding industry, so put this index in the research framework. Therefore, for the financial holding company providing services in Taiwan region, how to survive in the fierce competition, and position in the competitive market, and plan the future strategy would be the important issues that financial holding company must deliberate. This study takes all sixteen financial holding companies in Taiwan into analysis. The theoretical framework of strategic group is discussed and analyzed. The performance index of financial holding industry is applied as the basis of grouping. The selected dimensions are based on the literatures review and practical experiences. The results of the annual and multi-year grouping were obtained by Co-plot statistical analysis, based on the data presented in the TEJ of the selected financial holding company from 2011 to 2016. The results show the members and the characteristics of each strategic group, such as moving trajectory and dynamic development situation, to make a macroscopic discussion and analysis on the financial holding industry. This study analyzes the performance of the selected financial holding company in six years, and draws the result chart, and divides the financial holding industry into four strategic groups (i.e. performance-leader group, stable-structure group, performance-focus group, and performance-laggard group) using Co-plot. According to the Co-plot diagram, each group learns the group characteristics by means of the inner member, with the obvious change trajectory in the competitive environment. Therefore, this study helps financial holding company to clarify their competitive position in the actual competitors and adjust the coping strategy and the future development direction, to increase the core competitiveness and dynamic advantages.