銀行業經營績效與績效指標間關係之研究

在銀行業經營績效這門研究領域中，過中的學者普遍採用傳統指標作為研究探討的理論架構；然而在現金流量投資報酬率應用於銀行業之研究並不多，且EVA的研究結果又不盡相同的情況下。本文欲以求得的經濟附加價值(EVA)、現金流量投資報酬率(CFROI)、權益報酬率(ROE)和Tobin' s Q之值等四方面，探討它們與營收成長率、營業收益率、總資產週轉率、逾放比率和超額報酬率的關係；並找出較能反映銀行績效的指標，當作衡量銀行經營績效的依據。由相關分析和迴歸分析的結果看來，用ROE來預測台灣地區銀行經營績效似乎比其他衡量指標來得好。而經由比較平均數之獨立樣本T檢定結果，我們也發現，ROE和Tobin' s Q的表現相較於CFROI或EVA這些新興指標要來的好些。因此在研究台灣地區銀行業時，一些新的指標如CFROI或EVA並不會比傳統指標來的好，所以研究台灣地區銀行業之績效時，用傳統指標仍是比較適合的。

關鍵字

現金流量投資報酬率；經濟附加價值；權益報酬率

並列摘要

In the past literature, the traditional index was widely applied to the study of management performance of the bank. However, due to the scarcity of the application of “the cash flow return on investment” (CFROI) into the study of this field and the unsatisfactory outcome from the study of “the economic value added” (EVA), the end result is still far from conclusive. From the perspectives of economic value added (EVA), value of the rate of cash flow return on investment (CFROI), rate of returns on equity (ROE), and Tobin' s Q, this thesis intends to probe into the function of the four aforementioned measurement indices on the one hand, and their dynamic relation with sales growth rate, open earning rate, total assets turnover rate, non-performing loan, and exceed returns rate on the other, in order to find out the index that can relatively reflects the performance of the bank. The results of correlation analysis and regression analysis indicate that ROE works better than other measurement index in predicting the management performance of the banks of Taiwan. The result of T test demonstrates that ROE and Tobin' s Q, moreover, perform better than the new developing indices, such as CFROI or of EVA. We may conclude that while studying the banking of Taiwan, some new indices, such as CFROI or EVA, function better than the traditional index, and that while studying the performance of the banking of Taiwan, the traditional index is more preferred.

並列關鍵字

EVA ； ROE ； Tobin' s Q ； CFROI

參考文獻

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[17] 黃文明，“以財務比率探討台灣地區公民營銀行之經營績效”，碩士論文，國立成功大學高階管理碩士在職專班，2003。

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銀行業經營績效與績效指標間關係之研究

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