商業銀行的資本適足程度、所有權類型與經營績效之研究

A study on commercial banks’capital adequacy, ownership types and operating performance

李秀月(HSIU-YUEH LI)

指導教授 ： 陳錦村

國立中央大學/管理學院/財務金融學系碩士在職專班/碩士(2011年)

摘要

本研究以本國商業銀行之資本適足程度、所有權類型及經營績效的關聯性為研究主題，在資本適足程度以資本適足率、第一類資本適足率、逾放比率及備抵呆帳覆蓋率高低代表資本適足程度；以外資持股比例、外資董事比率、政府機構持股比例、政府機構擔任董事比率、董監持股比率、董監質押比率及股份盈餘偏離倍數等高低，代表治理機制；以稅前純益率、營業利益率、營業費用率、每股盈餘(元)、股東權益報酬率及資產報酬率等6種變數代表經營績效；探討自1998年至2010年間，不同金融變革時期，及不同所有權類型在前述三個構面的變化。研究樣本來源主要從台灣經濟新報資料庫、各銀行的公開網站及中央銀行圖書館的本國銀行營運績效季報取得年度財務資料，進行實證分析，實證結果如下：
1. 在所有權類型方面
(1).「民營金控銀行」在第一類資本適足率、董監持股比率及稅前純益率等3個變數，顯著優於其他類型銀行；惟在股份盈餘偏離倍數，顯著高於其他類型銀行。
(2).「公營銀行」在營業費用率及每股盈餘等2個變數，顯著優於其他類型銀行。
(3).「外資銀行」在備抵呆帳覆蓋率，顯著優於其他類型銀行；惟在董監質押比率，顯著高於其他類型銀行。
2. 在不同金融變革時期方面
(1).「一次金改前」在第一類資本適足率及營業費用率等2個變數，顯著優於其他金融變革時期。
(2).「金融海嘯期間」在資本適足率、逾放比率、備抵呆帳覆蓋率、外資持股比率及外資董事比率等5個變數，顯著優於其他金融變革時期。
(3). 「二次金改期間」在資產報酬率、股東權益報酬率、稅前純益率及營業利益率等4個變數，顯著小於其他金融變革時期。

關鍵字

股份盈餘偏離倍數 ； 董監質押比率 ； 備抵呆帳覆蓋率

並列摘要

The study aims to understand the correlations among Taiwanese commercial banks’ capital adequacy, ownership types (governance mechanisms) and their operating performance. The goal is approached by examining changes in the three dimensions during different financial transformations from 1998 to 2010 and in different ownerships, using annual financial data obtained from the database of the Taiwan Economic Journal, official websites of banks, and Condition and Performance of Domestic Banks, a quarterly report published by the Central Bank of Taiwan.
In this study, indicators of capital adequacy are BIS ratio, Tier I ratio, overdue rate, and coverage rate; indicators of governance mechanisms are ratios of foreign ownership, of foreign board members, of government ownership, of governmental board members, of board ownership, of share pledging by board members, and of voting rights to cash flow rights; indicators of operating performance are income before tax ratio, operating profit, operating expense ratio, earnings per share (EPS), return on equity (ROE), and return on assets (ROA).
As for results of our empirical analysis,
1. in terms of ownerships:
(1) “Private-run financial holding banks” performed significantly better than the other two types of banks in three variables: Tier I ratio, board ownership ratio, and income before tax ratio. However, their ratio of voting rights to cash flow rights is significantly higher.
(2) “State-run banks” performed significantly better in two variables: operating expense ratio and ROE.
(3) “Foreign investment banks” performed significantly better in coverage ratio. However, their ratio of share pledging by board is significantly higher than the others.
2. in terms of financial transformations:
(1) “Before Taiwan’s first-phase financial reform”, banks performed significantly better in two variables, Tier I ratio and operating expense ratio, compared to the other two transformation periods.
(2) “During the global financial crisis”, banks performed significantly better in five variables: BIS ratio, overdue rate, coverage rate, foreign ownership ratio, and ratio of foreign board members.
(3) “During Taiwan’s second-phase financial reform”, four of the variables were significantly smaller than in the other periods: ROA, ROE, income before tax ratio, and operating profit.

並列關鍵字

the ration of voting rights to cash flow rights ； coverage rate ； the ratio of share pledging by board

參考文獻

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