| 摘要: | 台灣融資租賃產業的形成源於中小企業長期面臨的融資落差。銀行授信偏重財報透明度與擔保品，致使部分企業難以取得足額資金；融資租賃公司則以契約彈性、審查速度與現場觀察為主要特徵，成為中小企業取得外部資金的重要替代管道。然而，產業雖具金融中介功能，長期卻缺乏專屬法規與統一監理架構，使市場定位、契約規範與風險認知仍存在不一致性。
本論文以結構－行為－績效（Structure-Conduct-Performance, SCP）架構為主軸，結合台北市租賃商業同業公會統計資料、四大上市融資租賃公司財務資訊、制度環境以及產業實務觀察，系統性分析台灣融資租賃市場之競爭格局、經營行為與營運績效。研究結果顯示，我國融資租賃市場呈高度集中之寡占結構，市場主導權集中於少數大型業者；大型與中小型公司在資金來源、授信文化、風險控管險控管架構與商品設計上呈現顯著差異，形成分層競爭的市場樣貌。
在行為面，本論文發現授信制度與組織文化深刻形塑業者策略。大型融資租賃公司多依賴制度化審查流程、跨部門協作與資料庫管理，以提升決策效率與風險控管；中小型業者則以集中決策、擔保偏好與契約嚴謹度因應資訊不對稱，展現不同的風險承擔模式。績效面分析顯示，主要業者長期維持穩健獲利與良好資產品質，但亦受到利率環境與監理政策變化的顯著影響。
綜合分析，本論文指出台灣融資租賃業兼具金融中介與實體產業服務之雙重屬性，對中小企業資金流通具有關鍵作用。未來若能推動專法制定、強化監理一致性、提升資訊揭露透明度，並持續完善人才培育與風險控管制度，將有助於提升市場信任與透明度，使融資租賃業在穩健風險控管下充分發揮其經濟功能。
;This study applies the Structure-Conduct-Performance (SCP) framework to examine the development, market structure, business conduct, and performance outcomes of Taiwan’s financial leasing industry. The analysis draws upon data from the Taipei Leasing Association, financial statements of major listed leasing companies, regulatory materials, and industry observations. The results indicate that Taiwan’s financial leasing market exhibits a highly concentrated oligopolistic structure dominated by a small number of large firms. Differences in funding sources, credit cultures, organizational systems, and product designs lead to distinct operational patterns between large and small firms.
In terms of conduct, the study finds that organizational culture and credit decision-making mechanisms significantly shape firm behavior. Large leasing companies rely on institutionalized credit procedures, data-driven review tools, and cross-departmental collaboration to balance efficiency and risk control. Small and medium-sized firms, facing higher information asymmetry and resource constraints, tend to adopt centralized decision-making, collateral-driven lending, and more stringent contractual terms as their primary risk-management strategies.
Performance evaluation shows that major leasing firms maintain stable profitability and sound asset quality, although their outcomes remain sensitive to changes in interest rates and regulatory conditions. Overall, the findings highlight the dual financial–industrial nature of Taiwan’s leasing industry and its important role in supporting SME financing. The study suggests that future development should prioritize dedicated legislation, regulatory consistency, enhanced information transparency, and strengthened risk-management and talent-training systems to improve industry stability and credibility. |
