從法律的觀點論金融機構合併與市場競爭秩序

A Study On Financial Institution Merger and Market Competitive Order: A perspective of Law

葉斯偉(Szu-Wei Yeh)

指導教授 ： 陳櫻琴

中原大學/商學院/財經法律研究所/碩士(2005年)

https://doi.org/10.6840/cycu200500816

摘要

我國自1991年開放新銀行設立後，陸續放寬各項金融管制措施，各項創新金融產品及業務亦開放辦理，深化與廣化銀行、證券、保險業間之業務，彼此區隔及差異也漸趨模糊，同時金融機構之發展亦朝向大型集團化之趨勢。面對整體金融市場的變化，如何將跨業經營的限制予以鬆綁，而部分金融機構的獲利能力降低、資產管理不佳等問題，成為政府金融改革法制的主要工作。

2000年金融機構合併法、2001年金融控股公司法等金融合併法制之發布，透過法規鬆綁與租稅優惠之方式，以鼓勵金融機構同業或跨業之合併，同時解決部分不良金融機構之問題，藉以改善其經營績效並提升我國金融市場之經濟規模，開創我國整體金融機構經營之有利環境。從SWOT分析金融機構本身制定合併策略的動機，採取「租稅假說」較為適宜。惟，透過租稅優惠之措施金融機構合併政策之落實，尤以金融機構合併法第十七條之規定，從租稅公平觀點而論，實宜進一步加以檢討之必要。

新巴賽爾資本協定有關衡量銀行風險管理、最低資本適足率不得低於百分之八之規定，見諸於我國金融法制體系；再者，金融機構朝向大型化的趨勢下，經營規模的擴大，其獲利能力亦受到關注。換言之，風險管理與經營績效的衡量，實為檢視推動金融機構合併政策成效之參考。本文發現，總資產愈大者（經營規模），其獲利能力（ROA）兩者呈現低度相關；總資產愈大者（經營規模），其風險管理（資本適足率），兩者亦呈現低度相關。

我國銀行業的市場結構，本質上傾向於寡占模式，然而，隨著銀行的開放，新競爭者的加入，逐漸朝向低度寡占方向傾斜，市場競爭秩序也隨之改變。面對日後金融機構跨業與同業之結合與樣態，競爭主管機關宜傾向採取嚴格審查之基準，以為確保我國整體金融市場之公平競爭。

關鍵字

金融機構合併法 ； 公平交易法 ； 市場競爭秩序 ； SWOT分析 ； 動態分析 ； 金融機構合併 ； 金融控股公司法 ； 靜態分析

並列摘要

Abstract
Taiwan has opened the establishment of new bank since 1991, deepening it with the wide business that melts among the bank, securities, insurance, and the each other district separates and the difference are fuzzy gradually. At the same time, the development of the financial institution moves towards the trend of large-scale grouping as well. In the face of the rapidly change of the whole financial market, such questions as the earning capacity of some financial institutions having reduced, the assets which are not good in management, have become the groundwork of government's financial reform.
The Financial Institution Merger Law of 2000 and the Financial Holding Company Law of 2001, have provided tax reduction and deregulation, encouraging the amalgamation of all kinds of financial institution, solving the problems of some bad financial institutions, opening the favorable environment that the whole financial institution of management. Besides, when making the motive of amalgamating the tactics from of financial institution itself through SWOT analysis, it is comparatively suitable to adopt “the hypothesis of the tax”. However, the policy to encourage financial institution to reorganize with tax reduction, the Financial Institution Merger Law of article 17 particularly, from tax fair view and theory, should really make a self-criticism further with necessity.
The regulation of “BIS ratio can't be lower than 8%” in Basel II is not only a measurement of risk management in bank but a regulation stipulated in Taiwan’s financial legal system systems as well. Moreover, the financial institution moves towards the trend of enlargement of business scale, its earning capacity is also paid close attention to. With correlation analysis, this text finds that total assets (business scale) and its earning capacity (ROA) have low correlation, and so do total assets (business scale) and its risk management (BIS).
The market structure of the banking in Taiwan itself inclines to “oligopoly”, however, with the opening of the bank, the joining of the new competitor, the interest rate of the whole financial market reduce, and the financial competitive order gradually changes as well. As a result, in the face of the change and expansion of the financial domain in the future, FTC should incline to adopt the datum examined strictly, thought that guaranteed the fair competition of the whole financial market of our country.

並列關鍵字

Dynamic Analysis ； Financial Institution Merger Law ； SWOT Analysis ； Market Competitive Order ； Fair Trade Law ； Financial Holding Company Law ； Financial Institution Merger ； Static Analysis

參考文獻

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