我國銀行兼營證券商未來發展方向之個案分析

A Case Study for The Future Development of Taiwanese banking institutions to run securities business A Case Study for The Future Development of Taiwanese banking institutions to run securities business A Case Study for The Future Development of Taiwan

吳炳溪(PING-HSI WU)

指導教授 ： 夏侯欣榮

元智大學/管理學院/管理研究所/碩士(2006年)

摘要

金融機構兼營證券業務近四十年，隨著國際性金融機構與大型金融機構之整合過程，跨業經營與組織整併是必然趨勢，加以法令的鼓勵，市場發展趨勢正朝規模大型化、業務多元化、佈局全球化之方向發展，因此金融機構兼營證券商正面臨前所未有之衝擊，民國八十七年順大裕、中企等股票鉅額違規交割案，造成彰銀、台中商銀二家金融機構兼營證券商發生鉅額虧損，個案銀行亦為一金融機構兼營證券商，也因九十三年博達公司掏空案差一點發生鉅額虧損。因此本研究乃透過臺灣證券交易所、櫃檯買賣中心及各論文、相關網站之資料加以整理分析，主要目的針對金融機構兼營證券商以往之經營狀況，充份瞭解金融機構兼營證券商面臨的經營環境、法令限制及未來發展趨勢，同時利用SWOT分析法分析個案銀行兼營證券商在證券業的競爭優劣勢，提出各項振興計劃。參酌其它金融機構兼營證券商的發展方向，比較各方案未來可能走向之優缺點及可能所面臨的問題之影響，逐一提出相關數據分析，並且分析個案銀行兼營券商若成立專業經紀商或綜合證券商各項財務、人事、組織變動的影響，綜合以上分析所得到結論：個案銀行在現階段無論在人員專業度、人事制度的建立及財務的規劃都缺乏完善的規劃，貿然成立綜合證券商有其風險，因此建議現階段以設立分支機構、招募營業員及現有券商成長等三方面的努力，等個案銀行財務數字許可下，再進行擴大營業範圍，轉而成立綜合證券商，方式來運作，否則，在目前證券巿場競爭態勢下，即使轉投資成立小型綜合券商，要在巿場上勝出，仍需十分努力。中期而言，應再參酌巿場多空狀況，伺機開辦自營業務，以擴大營運規模，長期則仍須有逐步擴大資本額之規劃，才可享受綜合券商之規模經濟效益。

關鍵字

金融控股公司 ； 證券商 ； 國際性 ； 經紀商 ； 營業員 ； 證券商 ； 專業度 ； 併購

並列摘要

It has continued for around 40 years that the financial institutions to run securities business. For now, they face an unprecedented hard time, as an integrating process has been undergoing among international and large-scale financial institution to account for multi-operations and organizational conglomeration. With the promotion of governmental laws, the market trend is large-scale organization, multi-operation business and global distribution. In 1998, a violated stock trading case of Taiyu Products Corporation and Taichung Business Bank caused two banking institutions a tremendous minus. The bank in this case study is also a financial institution to run securities business; it almost fell into a tremendous minus because of the 2004 embezzlement scandal of Procomp Informatics Ltd. Therefore, this study is to combine all the information procured from Taiwan Stock Exchange Corporation, Gretai Securities Market, various journals and the related sites. The main purpose is to get a full understanding of the business conditions and lawful restrictions these banking institutions are to encounter as well as their future development. Also, this study adopts SWOT (Strengths, Weaknesses, Opportunities, Threats) to examine the advantages and disadvantages for these banks to run securities business and to present a few initiating programs. Considering the development of other banks, this study will show some related data to make a comparison analysis of the possible good and poor conditions and grasp an overview of the impacts on financial, personnel and organization changes if a professional broker or a general securities business is provided. With the above, the conclusion is that the bank in this study lacks a complete planning either on staff’s level of profession or personnel and financial system build-up. Thus, there exist many risks for the bank to set up a general securities business body. It is suggested that the bank for the present stage set up a branch, recruit sales staff and promote the existing securities business. When the finance funding is allowed, the bank can enlarge its scope of business and rebuild a general securities business. Otherwise, it will take an excruciating effort to make an outstanding performance among the present competences provided that the bank reinvests itself as a small-scale general securities business. For the mid-term planning, the bullish and bearish market conditions should be carefully taken into account to examine the possibility in launching self-operated business and operations enlargement. The gradually-increased capital amount should be the main implementation for the long-term planning to see an obvious economy of scale effect.

並列關鍵字

Financial Holding Company ； Securities Companies ； future ； system ； taiwan ； SWOT ； data ； Merger & Acquisition

參考文獻

財政部證券暨期貨管理委員會期刊。

林黎華，證券併購法制之探討，財政部證券暨期貨管理委員會。

參考文獻

中文期刊：

王文宇（民87年7月），「我國銀行兼營證券業務法制之研究」，經社法制論叢第24期。