頁籤選單縮合
題 名 | 臺灣金控公司多角化經營效率分析=The Analysis of Diversification to the Operation Performance of Financial Holding Companies in Taiwan |
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作 者 | 劉清標; 張雅涵; | 書刊名 | 臺灣企業績效學刊 |
卷 期 | 6:2 2013.06[民102.06] |
頁 次 | 頁171-194 |
分類號 | 562.29 |
關鍵詞 | 金控公司; 多角化; 資料包絡分析法; Financial holding companies; Diversification; Data envelopment analysis; |
語 文 | 中文(Chinese) |
中文摘要 | 本文以2009年至2011年臺灣14家金控公司為研究對象,首先,以Herfindahl指數衡量各金控公司總多角化程度;其次,採用資料包絡分析法、差額變數分析、敏感度分析衡量臺灣金控公司之經營效率,並探討影響經營效率之因素,進而提出具體的改善建議。最後,以Tobit迴歸分析檢定多角化程度與金控公司經營效率之相關性。實證結果發現,多角化程度愈高,技術效率愈低;其次,人事費用為影響金控公司技術效率最重要的因素。最後,經由迴歸分析得知,總多角化程度與金控公司之經營效率呈顯著負相關;資產規模及金控公司旗下有無商業銀行與經營效率呈顯著正相關;股東權益報酬率及金控公司旗下有無投信子公司與經營效率呈現負相關,但不顯著。 |
英文摘要 | In this paper, 14 financial holding companies subsisting in Taiwan from 2009 to 2011 are selected as samples. The Herfindahl index is used to measure the total level of diversification of these companies. Followed are Data Envelopment Analysis (DEA)、Scale Efficiency Analysis and Sensitivity Analysis to measure the operating efficiency of these companies. Finally, Tobit regression analysis is also used to estimate operating performance. We find that the higher total level of diversification is, the lower the operating performance of financial holding companies in Taiwan. Second, personnel expense is the most important factor in evaluating the operating performance of financial holding companies. Finally, we demonstrate the issue by regression analysis. The results indicate that the total level of diversification and return on equity are negatively correlated to the operating performance of financial holding companies in Taiwan. However, total assets and the operating performance of financial holding companies in Taiwan are significantly and positively correlated. |
本系統中英文摘要資訊取自各篇刊載內容。