多角化與收入結構對銀行經營效率的影響

Impact of diversification and income structure on operation performance: A case for commercial banks in Taiwan.

李忠翰(Chung-Hang Lee)

指導教授 ： 徐芳霞

國立臺北大學/社會科學學院/經濟學系/碩士(2011年)

摘要

自1992年開放新民營銀行設立及2001年「金融控股公司法」實施後，台灣銀行業的競爭日趨白熱化，國內金融環境變得複雜且多元，傳統存放款利差逐漸縮小，使銀行業者遂增加非傳統業務的經營與開發。許多學者針對業務的多樣化是否可以提升銀行經營績效進行分析，但由於傳統衡量銀行業務多角化程度的指標未考量到費用因素，所以本文使用考量銀行費用後之多角化程度指標。如此將可改善過去未考慮費用所造成的誤差。

本研究首先參考Laeven and Levine(2007)的收益多角化指標，針對2006 年至2009 年國內33 家商業銀行進行收益多角化程度與收入結構的衡量，然後以資料包絡分析法評估這四年國內33 家商業銀行的經營效率，並透過Malmquist生產力指數來分析各家商業銀行跨期間的生產力變化情形，最後使用Tobit 迴歸分析多角化程度和收入結構對於商業銀行經營效率的影響，並比較收益多角化(結構)與傳統的營收多角化(結構)之差異。實證結果如下：
1. 由收益面計算出之利息收入比重與手續費收入比重高於由營收面所計算之比重，從收益面計算的金融資產及負債項目的比重明顯低於由營收面計算的比重。銀行業務仍多偏重傳統利息收入與手續費收入，而金融資產及負債考量費用後所占的比重並不像一般文獻從營收面所評估的高。
2. 由資料包絡分析法分析與無母數Kruskal-Wallis檢定，發現非金控銀行及小規模銀行在經營管理及資源配置等方面並不遜於金控銀行及大規模銀行，其所不及者乃在於規模之不適。
3. 2006 年至2009 年間，臺灣商業銀行平均Malmquist 生產力有明顯的退步，主要是因為平均技術退步之程度大於平均技術效率改善之程度所造成。
4. 收益多角化對五種銀行樣本群組的效率皆呈現正面的影響，營收多角化則出現解釋能力較低的現象，因此採用收益面的多角化指標將可改善傳統營收多角化解釋能力不足的缺陷。
5. 在五種銀行樣本群組中從收益面觀察，大致呈現利息收入比重對銀行績效為負面影響，手續費收入比重為正面影響，金融資產及負債比重為正面影響；利息收入比重無論是從收益面或營收面其對銀行績效均呈現出負面的影響，顯示傳統業務對銀行效率為負向影響。

實證結果顯示收益面有較高的解釋能力的優點，同時顯示營業收入較大，不見得會提升獲利，以往文獻並未意識到費用對於銀行效率的重要性。

關鍵字

多角化 ； 收入比重 ； 資料包絡分析法 ； Malmquist 生產力指數 ； Tobit 迴歸

並列摘要

There have been many new commercial banks getting into Taiwan’s financial market since the deregulation in 1991 and passed the “Financial Holding Company Act” in 2001. The keen competition causes the interest income slashed. But the traditional index is not take the expenses into account. Hence, this paper hope to adapt an index which considerate the expenses of the bank. It can correct the wrong concept in the past, and be used to measure the degree of diversification of the bank. The main purpose of this paper is to discuss the relation between the income diversification index - DIVI and the efficiency value from the DEA method.

The research aims at 33 commercial banks in Taiwan from 2006 to 2009, by using Laeven and Levine(2007) income diversification index to evaluate degree and type of diversification. Furthermore, using the method of data envelopment analysis (DEA) evaluates operation efficiencies of those target companies in Taiwan, and it also analyzes productivity growth by Malmquist Productivity Index. Last but not the least, the Tobit Model helps us to explore the influence of degree of diversification and income structure on efficiencies of commercial banks in Taiwan. The main conclusions present as the following:

1. Interest income share and fee income share of income side is better than revenue side ones. Financial assets and debts share of income side is worse than revenue side ones. The business of the bank still emphasizes the traditional interest income and fee income. After considering the expenses of financial assets and debts share is not as high as calculated by the revenue side.

2. According to the DEA analysis and Kruskal-Wallis (K-W) test, the problem of efficiency of non-financial holding banks and small-scale banks is the scale efficiency but not the pure technical efficiency. This showed that non-financial holding banks and small-scale banks do not utilize the resource in optimal scale.

3. Due to the deterioration of average level of technical exceed the improvement of average level of technical efficiency, the commercial banks’ average productivity deteriorated from 2006 to 2009.

4. Income diversification is positively related to efficiency for each group. The revenue diversification is lack of the ability to explain the performance.

5. In income structure side, fee income share and financial assets and debts share are positively related to efficiency for each group. No matter under what kind of method, interest income share is negative related to efficiency. It implied that the traditional activities is negative related to efficiency.

The empirical result shows that income method has higher explanation, implying that increase of revenue through diversification did not improve profit simultaneously. It implied that the previous literature did not notice the importance of the expenses.

並列關鍵字

Diversification ； Income Share ； Data Envelopment Analysis ； Malmquist Productivity Index ； Tobit Regression

參考文獻

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