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| Title: | 以關聯結構隨機成本邊界模型比較我國金控、 非金控銀行與壽險公司之成本效率
Comparing the Cost Efficiency of Financial and Non-financial Holding Banks and Insurance Companies under the Framework of the Copula Methods |
| Authors: | 廖育緯
Liao, Yu-Wei |
| Contributors: | 黃台心
Huang, Tai-Hsin
廖育緯
Liao, Yu-Wei |
| Keywords: | 金融控股公司
銀行與壽險公司
綜效
隨機共同邊界
關聯結構
Financial holding company
Bank and life insurance company
Synergy
Stochastic meta frontier
Copula method |
| Date: | 2019 |
| Issue Date: | 2019-08-07 16:12:03 (UTC+8) |
| Abstract: | 過去研究金融控股公司經營效率之文獻，多針對金控架構下的單一產業進行研究，無法有效捕捉金控子公司間的經營綜效。本文研究台灣2002年至2017年，43家銀行與27家壽險公司經營之成本效率。使用關聯結構模型建構金控銀行與壽險公司成本函數間組合誤差的聯合機率分配，將金控子公司間享有的經營綜效明確納入計量模型，並透過隨機共同邊界模型比較金控、非金控銀行與壽險公司之成本效率。
實證結果發現金控銀行在金控公司成立初期成本效率明顯下降，隨時間經過逐漸發揮綜效成本效率開始上升，且金控銀行成本效率高於非金控銀行，經營較有效率。金控壽險公司成本效率高於非金控壽險公司，經營效率較好。金控銀行與金控壽險公司的成本效率間存在低度的正相關，顯示金控銀行與壽險公司間具有經營綜效。若忽略金控銀行與壽險公司間的經營綜效進行估計，將導致金控銀行與金控壽險公司的成本效率被低估，且無法捕捉兩成本效率間的相關性。
This paper examines the cost efficiency of 43 banks and 27 life insurance companies operating in Taiwan from 2002 to 2017. Using the copula method to construct the joint probability distribution of the combination errors between the cost functions of financial holding bank and life insurance company, and clearly integrate the operational synergy enjoyed by the financial holding subsidiaries into econometric model. And compare the cost efficiency of financial holding, non-financial holding banks and life insurance companies through stochastic meta frontier model.
The empirical analysis concluded: (a) Cost efficiency of financial holding banks in the initial stage of the establishment of financial holding company was dropped significantly. The cost efficiency of financial holding banks has gradually increased with the passage of time, and the cost efficiency of financial holding banks are higher than non-financial holding banks. (b) The cost efficiency of financial holding life insurance companies are higher than that of non-financial holding life insurance companies, which means their operating efficiency is better. (c) There is a significantly small positive correlation between the cost efficiencies of financial holding banks and life insurance companies, indicating that the financial holding banks and the life insurance companies enjoy a synergy effect. (d) If we ignore the synergy between financial holding banks and life insurance companies, their cost efficiency will be underestimated, and the correlation between the two cost efficiencies cannot be captured. |
| Reference: | 1. 王儷玲、彭金隆與張義宏 (2006) 「我國壽險業銀行保險業務參與度與經營效率分析」，《臺大管理論叢, 17(1)》，59-90頁
2. 朱炫璉與吳志銘 (2009) 「台灣金融控股組織對銀行效率之影響」，《台灣管理學刊, 9(1)》，97-114頁
3. 陳玉娟與沈鵬飛 (2007) 「金控公司子銀行與獨立銀行之成本效率分析」，《運籌與管理學刊, 6(2)》，45-56頁
4. 黃台心、高棟梁、姜麗智與梁嘉惠 (2010) 「我國壽險業考慮準固定投入後的效率與生產力變動分析」，《東吳經濟商學學報, (68)》，1-38頁
5. 黃美瑛、謝志彬 (2009)「系統風險對金控法通過前後之銀行業成本與效率影響－隨機成本邊界法」，《應用經濟論叢, (86)》，1-35頁
6. 梁連文、彭顯浩 (2016) 「公司治理、外資進入可提升銀行效率嗎？－金控與非金控銀行之比較分析」，《績效與策略研究, 13(1)》，21-43頁
7. 劉松瑜、謝燧琪與溫育芳 (2006) 「台灣銀行業在金控與非金控架構下之效率分析」，《台灣金融財務季刊，7(3)》，127-176頁
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| Description: | 碩士
國立政治大學
金融學系
106352033 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0106352033 |
| Data Type: | thesis |
| DOI: | 10.6814/NCCU201900158 |
| Appears in Collections: | [金融學系] 學位論文
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