- 學位論文
台灣銀行業公司治理與經營績效關係 -以SUR模型實證分析
The Empirical Study of Using SUR Mold to Analysis Taiwan Banking Industries Relationship between Corporate Government and Financial Performance
摘要
過去有關公司治理之文獻多在探討一般企業，但銀行業對國家經濟影響力甚大，其公司治理相當值得研究；另外，少有能同時克服金融市場資料兼具橫斷面與縱斷面性質，而採用近似無相關迴歸模型(Seemingly Unrelated Regression；SUR)以降低殘差異質性與同期相關性之論文；再加上2007年爆發中華商銀超貸等金融弊案與次貸風暴等重大金融事件，使銀行業公司治理議題備受重視，實有必要對台灣銀行業之公司治理與財務績效關係做一次全盤的了解與實證。 本研究主要是以SUR模型實證分析台灣銀行業公司治理與財務績效之關係，並以2003年至2007年台灣上市櫃金控銀行與獨立銀行共22家為研究對象，採用八個公司治理指標與四個財務績效指標進行驗證。其研究結果如下:(1)內部人持股比率與銀行財務績效呈正相關。(2)法人持股比率與銀行財務績效呈正相關。(3)機構投資人持股比率與銀行財務績效呈正相關。(4)管理者持股比率與銀行財務績效呈正向相關。(5)董監事持股比率與銀行財務績效呈負相關。(6)大股東持股比率與銀行財務績效呈負相關。(7)董事會規模與銀行財務績效並無顯著相關。(8)董監經理人質押比率與公司財務績效呈負相關。 本研究結論指出，現今台灣銀行業之公司治理機制仍不夠完善，才會發生許多金融弊案，但由於台灣銀行業之公司治理與財務績效間具有顯著的關係，故銀行業者應對本身公司治理指標特別注重，並遵循台灣法律中所訂定之公司治理原則，以提升其良好的財務績效。金管會銀行局則應隨時注意各銀行公司治理施行狀況，避免銀行因不健全的公司治理而造成舞弊或掏空等情形並危害存款人；金檢局也必須在銀行發生問題前就先擬訂對策，才能防患於未然。最後，務必對公司治理與財務績效指標之皆不佳的銀行加以輔導或定期做金融檢查，以防止因公司治理績效不彰而銀行倒閉的狀況發生。
並列摘要
In recent years, corporate governance has become one of the most popular themes in the management of the academic subjects. Country’s financial industry has tremendous effect on its own, it’s crucial to set up proper corporate governance mechanism among banks. The main purpose of this study is to examine the relationship between Corporate Government Mechanism and Financial Performance. This research has set the parameter on the banking and financial holding company in Taiwan stock exchange, including 10 banks and 12 financial holding companies from 2003 to 2007 as the studying sample. The conclusions are:(1)There is significantly positive relationship between insiders’ ownership ratio and financial performance. (2) There is significantly positive relationship between government ownership ratio and financial performance. (3)There is significantly positive relationship between institutional’ ownership ratio and financial performance. (4)There is significantly positive relationship between managers’ ownership ratio and financial performance. (5)There is significantly negatively relationship between supervisors’ ownership ratio and financial performance. (6)There is significantly negatively relationship between blockholder s’ ownership ratio and financial performance. (7)The board of directors’ size is no correlated with the financial. (8)There is significantly negatively relationship between Ratio of mortgaged shares of directors and supervisors and financial performance.