| 摘要: | 為瞭解本國銀行的小型企業放款有否較佳之經營績效，本研究乃以Carter-McNulty(2005)、Berger et al.(2005)提出的迴歸模型，檢測本國銀行的企業放款淨利率與銀行規模、企業的小型放款、法規、技術改變與所有權變化之間的關係，並以時間(TIME)作為法規鬆綁與技術進步之代理變數。基於穩健的原則，本文除了使用普通最小平方法外，同時採用隨機效果模型，並得到的一致的實證結果。由假設檢定可知，企業放款淨利率隨著法規逐步鬆綁(以時間當做代理變數)而下降、銀行規模效果不存在、放款規模呈現顯著的負相關；再者，沒有明顯的證據顯示，公營銀行的企業放款淨利率異於民營銀行；而1991 年所開放設立的新銀行，其企業放款淨利率則顯著優於其他銀行。 此外，本研究亦利用靜態、選擇與動態效果來衡量所有權改變後的放款績效。實證結果發現，民營銀行的放款績效優於公營銀行(靜態效果)；金控子銀行和外資併購或入股的銀行，其放款績效顯著高於公營銀行(選擇效果)；金控子銀行和外資併購或入股的銀行，其放款績效短期間雖然較差，但長期則可能會有反轉的趨勢(動態效果)。 For analyzing the performance of small business lending in internal banking industry,we use the regression model of Carter and McNulty(2005)、Berger et al. (2005) to test the relationshipbetween risk-adjusted business yield, the size of banks, small business lending, and regulation-and-technology changes. Besides OLS, we also consider random effect model to acquire robust results. From both models, the consistent results are as follows. Fist, the returns to business lending have declined over the sample period. Second, size-of-bank effects do not exist and size-of-loan effects are negative related. Additionally, there is no significantstatistic that adjusted-risk business yields of public banks are different from privatebanks, but there is evidence showed that the business lending performance of the new banks in 1991 is significantly better than other banks. Moreover, we jointly analyze the static, selection, and dynamic effects of domestic, state, and foreign ownership on bank performance. State-owned banks have poor long-term performance (static effect), financial holding banks and foreign banks have much better performance than state-owned banks (selection effect), and financial holding banks and foreign banks have poor performance in the short run, but it may reverse in the long run (dynamic effect). |
