公營企業民營化前後期效率與生產力之比較探討- 台灣金融業之實證研究

A Comparative Study on the Efficiency and Productivity of Public Enterprises before and after Privatization-An Empirical Study of Taiwan's Financial Industry

簡文琳(Wen-Lin Chien)

指導教授 ： 劉定焜

朝陽科技大學/管理學院/財務金融系/碩士(2020年)

摘要

1970年末期，為世界各國開始推動民營化的時間，大多數實施公營事業的國家，皆大規模推廣公營事業民營化政策。公營事業具有經濟發展、挹注國庫、增加政府收入與執行政府政策等重要的功能，但亦有效率不彰的問題為外界所詬病。隨著國際市場上經濟制度的盛行、區域經濟體系的興起、自由化的趨勢、亞洲地區經濟快速的增長，加上國內民間企業的快速增加與多角化的經營，使得公營事業的民營化變成了世界性的潮流 (張炳榮，2004) 。
然而，公營事業轉民營化是否真的如預期達成效率或生產力成長，是值得探討的，有鑑於過去文獻探討公營事業轉民營化前後績效比較並不多見 (謝明振，2004) ，因此，本研究建構研究期間為2005年至2018之縱橫資料 (以下簡稱panel data) ，並以2008年為民營化前後之基準；研究對象包含銀行業、保險業與信託業，共十二家企業，運用資料包絡分析法 (data envelopment analysis, 以下簡稱DEA) 與麥氏生產力 (malmquist productivity index, 以下簡稱MPI)，估計台灣金融業民營化前後期效率與生產力，並比較其差異，再建構panel data model進一步探討民營化前後，各企業績效表現之決定因素，期望本研究實證結果可提供政府相關單位政策研擬、產業或企業經營策略擬定及社會大眾投資決策之參考。

關鍵字

公營事業民營化 ； 金融業 ； DEA ； MPI ； panel data

並列摘要

In the late 1970s, as countries around the world began to promote privatization, most countries that implemented public utilities promoted privatization policies for public utilities on a large scale. Public enterprises have important functions such as economic development, pouring money into the treasury, increasing government revenue, and implementing government policies. However, they are also criticized by the outside world for their inefficiency. With the prevalence of the economic system in the international market, the rise of the regional economic system, the trend of liberalization, the rapid economic growth in Asia, and the rapid increase of domestic private enterprises and the diversified operation, the privatization of public enterprises has become A worldwide trend (Zhang, 2004).
However, it is worth discussing whether the conversion of public enterprises to privatization really achieves the efficiency or productivity as expected. In view of the past literature, it is rare to compare the performance of public enterprises before and after privatization (Xie, 2004). Therefore, this study constructed panel data from 2005 to 2018, and used 2008 as the benchmark before and after privatization; the research objects include banking, trust, and insurance, a total of twelve, using data envelopment analysis (data envelopment analysis (hereinafter referred to as DEA) and Malmquist productivity index (hereinafter referred to as MPI). Estimate the efficiency and productivity of Taiwan's financial industry before and after privatization, and compare their differences, and then construct a panel data model to further explore the determinants of the performance of various companies after privatization. It is hoped that the empirical results of this research can provide references for policy formulation of relevant government units, business or industry business strategy formulation, and public investment decisions.

並列關鍵字

privatization of public enterprises ； financial industry ； DEA ； MPI ； panel data

參考文獻

中文文獻

王克陸、彭雅惠、陳美燁（2007）。台灣金控子銀行經營績效之評估—使用DEA方法。科技管理學刊。12(2)，1-27。

方嘉閩(2009)。台灣、中國之銀行績效分析。未出版碩士論文，國立台灣大學社會科研究所，新竹。

方顯光、余惠芳與王煒竣(2015)。後金融海嘯時期之台灣壽險公司經營效率之分析-兩階段資料包絡分析法之應用。華人前瞻研究。11(2)，93-112。

朱景鵬、張筵儀(2015)。國營事業經營績效、政策定位與考成問題之探討：以中油公司為例。國土及公共治理季刊。3(3)，55-64。