本文研究目的為探討銀行企業金融放款與消費金融放款的多角化程度，對於金融控股公司的報酬及風險之影響，研究期間為2006年至2014年共9年的季資料，研究樣本皆來自台灣經濟新報資料庫之15家台灣金融控股公司財報數據，使用多元迴歸分析分法，首先探討企金與消金比例的偏離程度對金融控股公司的報酬與風險之影響，再依據偏向企金和偏向消金分成兩個子樣本，檢驗偏向哪一種業務造成報酬與風險的顯著影響，最後再分別對金控公司的五家子公司作探討，觀察偏向哪一種業務程度越大，會對五家子公司的獲利分別造成什麼樣的影響。實證結果有四個發現，第一為企業金融放款業務比例越高，金融控股公司之總資產報酬率越好，以及現金流量波動度越大。第二為企金與消金放款比例越帄均，金控公司之營業利益比越佳。第三為企金比例較高會使得銀行業之營業利益提升，消金比例較高會使壽險業之營業利益提升。第四為企金比重越大會使得存放款利差越低，但是非傳統業務的獲利使得整體銀行和金控報酬提升。;The thesis constructs the dimensions of bank diversification ratio in terms of business loans and personal loans. This study focuses on the quarterly data of 15 Taiwan financial holding company from 2006 to 2014. This paper use of multiple regression analysis. First of all, we examine the impacts of bank diversification ratio on FHC profitability and cash flow volatility. Furthermore, we investigate the impacts of FHC profitability and cash flow volatility based on the high proportion in business loans and high proportion in personal loans. Finally, we exam the impacts of five business group profitability based on the bank diversification ratio, high proportion in business loans and high proportion in personal loans. We find four results from these exam. One result shows that high proportion in business loans is positively related to ROA and cash flow volatility of FHC. Second, the bank diversification ratio is positively related to profit ratio of FHC. Third, high proportion in business loans is positively related to profit ratio of bank, but high proportion in personal loans is positively related to profit ratio of life insurance. The last result is that high proportion in business loans is negatively related to interest rate spreads, but nontraditional activities increase the bank and FHC profitability.
