商業銀行治理機制與資本適足程度對經營績效的影響─以台灣及中國為例;The effect of corporate governance and capital adequacy on commercial bank performance：The cases of Taiwan and China

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Title:	商業銀行治理機制與資本適足程度對經營績效的影響─以台灣及中國為例;The effect of corporate governance and capital adequacy on commercial bank performance：The cases of Taiwan and China
Authors:	林佳樺;Lin,Chia-hua
Contributors:	財務金融研究所
Keywords:	銀行經營績效;公司治理;所有權結構;資本適足率;capital adequacy ratio;ownership structure;bank performance;corporate govern-ance
Date:	2012-07-19
Issue Date:	2012-09-11 19:07:55 (UTC+8)
Publisher:	國立中央大學
Abstract:	本文以1998~2010年的台灣商業銀行及2001~2010年的中國商業銀行為研究對象，使用Panel data的迴歸模型來探討銀行資本適足程度與治理機制對經營績效的影響。本文分成兩部分進行研究，第一部分，首先，探討資本適足程度、銀行治理機制及金融變革下的所有權結構之靜態、選擇與動態效果對台灣商業銀行績效的影響。最後，探討政府機構和外資此兩類特定投資者在銀行的參與程度對銀行績效的影響。第二部分，採用兩階段迴歸模型，考慮治理機制及經營績效對資本適足率的影響，重新驗證第一部分結果是否成立。研究結果發現，在台灣，銀行資本適足率及呆帳覆蓋率愈高，ROE及ROA愈高，但成本效率及成本控制能力愈差；市場風險愈高，ROE及ROA愈高，但成本控制能力愈差；銀行所有權改變後之經營績效普遍低於改變前。政府機構持股比例愈高，營業成本率愈高；外資持股比例愈高，營業成本率愈高，ROA愈低，成本效率愈低；外資董事席次愈高，營業成本率愈高。在中國，銀行資本適足率愈高，ROE愈高，成本控制能力愈好；呆帳覆蓋率愈高，ROE及ROA愈高，成本效率及成本控制能力愈好；市場風險愈高，ROE及ROA愈高，但成本控制能力愈差；銀行所有權改變後之經營績效普遍優於改變前。政府持股比例與經營績效呈負相關；外資持股比例愈高，經營績效愈好；外資董事席次比例愈高，營業成本率愈高，成本效率愈佳，ROA愈低。兩階段迴歸結果顯示與第一部分結果相似，差異只在顯著性。The paper investigates the effects of capital adequacy and corporate governance on com-mercial bank performance over 1998-2010 in Taiwan and 2000-2010 in China. Empirical analysis divides into two parts. First, the paper uses static, selection and dynamic effects of ownership to analyze banks’ performance before and after changing ownership structure, and then it examines whether the involvement of government and foreign investor in the owner-ship structure had any siginificant effect on the bank’s performance. Second, considering the effect of perfornmance and coporate government on capital adequacy, the paper uses two-stept regression to check the result of first part.The result show that captital adequacy ratio and coverage ratio are higher, ROE and ROA are better, but cost efficient and cost management is worse; while the market risk is higher, ROE and ROA are better, but cost management is worse; banks’ perfornmance after changing ownership structure are lower than before in Taiwan. The government ownership level has a positive association with operating cost ratio; the foreign ownership level has a positive asso-ciation with operating cost ratio but negative association with ROA and cost efficient; the percentage of foreign director affects operating cost ratio positively in Taiwan. While the captital adequacy ratio is higher, ROE is better, but cost management is worse; while the cov-erage ratio is higher, banks’ performance are better; while the market risk is higher, ROE and ROA are better, but cost management is worse; banks’ perfornmance after changing ownership structure are higher than before in China. The government ownership level has a negative association with performance; the foreign ownership level has a positive association with performance; the percentage of foreign director affects operating cost ratio and cost efficient positively but ROA negatively in China. The results on two-stept regression are similar to the previous result.
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