台灣銀行服務產業市場集中、競爭和金融創新之關係

Market Concentration, Competition and Financial Innovation in Taiwanese Banking Services Industry

呂佩珊(Pei-Shan Lu)

指導教授 ： 洪子逸

國立臺北科技大學/管理學院/服務與科技管理研究所/碩士(2013年)

https://doi.org/10.6841/NTUT.2013.00769

摘要

在過去的研究中，大部分僅探討銀行市場的集中和競爭之間的關係，然而，我們進一步探討金融創新和競爭之間的關係，並檢視控股銀行和利息相關業務在市場集中、競爭和金融創新之間是否存在不同的關係。本文的研究樣本為2003-2011年的本國銀行，藉由集中比率(concentration ratio, CRk)和赫氏指數(Herfindahl-Hirschman index, HHI)衡量市場集中度、PR模型(Panzar-Rosse Model)衡量市場競爭和資料包絡法(Data Envelopment Analysis, DEA)衡量金融創新。
結果顯示，客戶習慣將資金存放於少數幾家銀行，而向許多銀行借款。不論是整體或控股銀行的總收入市場，其競爭程度皆為獨占性競爭。在整體或控股銀行的利息收入市場，集中和競爭之間的關係皆呈現正相關，這符合太大不能倒(too big to fail)理論，顯示台灣銀行產業存在道德風險(moral hazard)；然而，在包含仲介服務的總收入市場，集中與競爭之間並沒有存在特定的關係。最後，我們發現台灣銀行業的金融創新同時體現在技術效率變動(technical efficiency change)和技術變革(technique change) 。此外，無論是整體或控股銀行的總收入市場，創新和競爭之間皆呈現負相關。實證結果說明，隨著競爭程度增加，銀行可能會逐漸減少金融創新的投入，產生惡性競爭的行為。

關鍵字

銀行 ； 市場集中 ； 競爭 ； 金融創新

並列摘要

Past studies chiefly explored the relationship between market concentration and competition in a banking market. This study further measures the relationship between financial innovation and competition, and compares the dissimilitude for the different size-classes and revenue-markets in Taiwanese banking market for the period 2003-2011. The results show that most clients deposit in a few of large banks and loan in many banks. Taiwanese banking industry is in monopolistic competition. The relationship between market concentration and competition is positive in the interest revenue market which meets “too big to fail”. The results also show that the moral hazard exists in Taiwanese banking industry. Finally, we find that Taiwanese banks simultaneously perform the financial innovation in the technical efficiency change and technique change. The relationship between innovation and competition is negative. The banks may gradually reduce the financial innovation with increasing the degree of competition.

並列關鍵字

banking ； market concentration ； competition ； financial innovation

參考文獻

5. Kao, C., Hwang, S. N. & Sueyoshi, T. (2003). Management performance evaluation: Data envelopment analysis. Taipei: Hwa-Tai.

29. Liu, J. C. (2009). Bank concentration, bank competition and bank risk: Evidence from Taiwan. Taiwan Economic Review, 37(1), 101-135.

16. Chan, V. L., & Liu, M. (2006). Effects of deregulation of bank efficiency and productivity in Taiwan. Taiwan Economic Review, 34(2), 251-300.

2. Cooper, W. W., Seiford, L. M., & Tone, K. (2007). Data envelopment analysis: A comprehensive text with model, applications, references and DEA-solver software. New York, NY: Springer.

6. Sun, S. (2004). Data envelopment analysis: Theory and application. Taipei: Yang-Chih.