臺灣金融控股公司財務績效與競爭策略之研究

The Empirical Study on Financial Performance and Competitive Strategy of Financial Holding Companies in Taiwan

陳俊銪(Jiun - You Chen)

指導教授 ： 謝俊宏

國立臺中科技大學/商學院/企業管理系事業經營碩士班/碩士(2012年)

摘要

全球化的趨勢使得國際金融環境快速變遷，金融業更朝向自由化、國際化與大型化的趨勢邁進。而由於在2007年後美國次級房貸問題持續延燒，全球化的連鎖效應演變成百年一見之2008年全球金融海嘯，金融資產減損造成全球金融機構面臨虧損危機與倒閉潮，使得金控公司的資產市占率與獲利績效之排名重新洗牌，本研究主要以主成分分析與多元尺度分析法重新檢視金融海嘯後金控公司之財務績效，並探討究竟哪家金控公司充分掌握此次金融危機迅速壯大資產規模並回復獲利榮景，提升自身競爭力，在激烈地彼消我長的金控肉搏戰中勝出。
研究結果顯示：領導性金控具有高度佔有率、高度經濟規模、高獲利及優質財務結構等競爭優勢，計有富邦金控、國泰金控、元大金控、兆豐金控、開發金控等。中等潛力型金控擁有積極的經營策略與目標，想提高市場占有率與營運規模，計有中信金控、台新金控、新光金控、第一金控及華南金控等。市場追隨者計有國票金控、玉山金控、永豐金控、日盛金控等中小型弱勢金控。

關鍵字

金融控股公司 ； 全球金融海嘯 ； 財務績效 ； 主成份分析 ； 多元尺度分析

並列摘要

The trend of globalization is drastically changing the international financial environment. The financial industry is undergoing trends of deregulation, internationalization, and scale enlargement. The subprime mortgage problem in United States in 2007 triggered a chain effect across the globe and it became clear that the impairment of financial assets was leading to economic losses and bankruptcies of financial institutes. Therefore, the ranking of the asset market share and profit performance has been reshuffled. This research reevaluated the financial performances of Financial Holding Companies (FHC) after the financial crisis by using Principal Component Analysis and Multidimensional Scaling methods. This research also investigated which of the FHCs are able to fully cope with the environment so that they can further enlarge their scale of assets, return to their former profitable states, and increase their competitiveness to win the intense financial battle.
The results reveal that the leading FHCs possess the competitive advantages through their high market share, high economies of scale, high profitability and a solid capital structure. These are Fubon, Cathay, Yuanta, Mega and China Development (i). The intermediate potential FHCs exercise a goal-oriented, active management strategy and are eager to increase their market share and scale of operations. These are Chinatrust, Taishin, Shin Kong, First and Hua Nan (ii). The following FHCs are the weaker ones and are of a small to medium scale FHCs such as Waterland, E.Sun, SinoPac and Jih Sun (iii).

並列關鍵字

Financial Holding Companies ； Financial Crisis ； Financial Performance ； Principal Component Analysis ； Multidimensional Scaling Methods

參考文獻

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