各國銀行競爭性與集中度對其財務穩定性之影響

The Impact of Global Bank Competition and Concentration on financial stability

李思瑩(Szu-Ying Lee)

指導教授 ： 盧智強

國立臺北商業大學/財經學院/國際商務系碩士班/碩士(2017年)

摘要

大部份來說競爭常被認為是正向力量，例如競爭對創新、產品品質、效率有正向影響，然而銀行間的競爭較具爭論性，銀行競爭度對穩定性之間關係存在兩種假說，「競爭－脆弱假說」與「競爭－穩定」。而合併所產生的高銀行集中度對銀行的穩定性影響為正或負也具討論性，有部分學者認為集中度過高會造成銀行間之操作，並影響銀行競爭性，造成「集中度高則越不穩定」，也有部分支持「銀行集中度高則穩定」。因此，本研究以2006年至2015年共10年，86個國家，共18,367筆資料為研究對象，採用追蹤資料法固定效果之OLS進行研究分析，並考量國家特性變數與金融風暴，探討銀行競爭性與集中度對其穩定性之影響，實證結果顯示，銀行競爭性與穩定性之間存在顯著正向關係，當銀行競爭程度越低，則銀行穩定性越高，支持「競爭–脆弱假說」，且兩者之前存在非線性關係。銀行集中度在金融風暴發生期間，考慮國家特性差異後，以赫芬達指數衡量的銀行集中度對銀行穩定性為顯著負向影響，支持「集中度高則越不穩定」，然而其他狀況下之實證結果皆為「銀行集中度高則穩定」之觀點。當處於系統性金融危機時，整個銀行金融機構不斷的整併造成銀行的獨佔提高，銀行遭遇風險的機率會增加(Schaeck et al.，2009)。

關鍵字

銀行競爭性 ； 集中度 ； 穩定性 ； Lerner Index ； HHI ； CR5 ； Z-score

並列摘要

In most cases, competition is often regarded as a positive force, such as competition for innovation, product quality, efficiency has a positive impact; however, the issue of competition among banks has been controversial and debated in academic and regulatory circles. The relationship between bank competition and stability exist two hypotheses which are “Competition – fragile” and “competition – stability” hypotheses. The high bank concentration generated by the merger had positive or negative impact on the stability of the bank. Some scholars believe that the high concentration will cause interbank trading and affect banks’ competitiveness, resulting in “high concentration has the probability of bank failure”, and part of scholars support for “the higher concentration, the higher financial stability”. Therefore, this paper is based on OLS, which is a fixed effect of the Panel-data method, and the total number of 18,367 data in 2006 and 2015, analyzes the impact of competition and concentration on bank stability in 86 countries, after that the national characteristics variables and financial crisis are discussed. The results show that there is a significant positive relationship between bank competition and stability, while the degree of bank competition is lower, the bank stability is higher, and the "competition-fragile hypothesis" is supported by our findings and capture a non-linear relationship between bank competition and stability. Bank concentration after considering the differences in national characteristics, the concentration of banks measured by the Herfindahl-Hirschmani Index had a significant negative impact on bank stability, our findings provide support for “high concentration which has the probability of bank failure” during the financial crisis. Under other conditions the empirical results are all “the higher concentration, the higher financial stability” point of view. When in a systemic financial crisis, the entire banking financial institutions continue to become the monopoly of the bank, and it increases the risk exclusively (Schaeck et al., 2009).

並列關鍵字

Bank competition ； Concentration ； Stability ； Lerner Index ； HHI ； CR5 ； Z-score

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