淡江大學覺生紀念圖書館 (TKU Library)
進階搜尋


下載電子全文限經由淡江IP使用) 
系統識別號 U0002-1501201116481900
中文論文名稱 國際化程度在規模差異下對本國銀行經營績效之影響
英文論文名稱 The Effects of Domestic Bank’s Internationalization Strategy on Operation Performance under the Scale Difference
校院名稱 淡江大學
系所名稱(中) 財務金融學系碩士在職專班
系所名稱(英) Department of Banking and Finance
學年度 99
學期 1
出版年 100
研究生中文姓名 楊美嬌
研究生英文姓名 Mei-Chiao Yang
學號 797530408
學位類別 碩士
語文別 中文
口試日期 2010-12-27
論文頁數 51頁
口試委員 指導教授-聶建中
共同指導教授-林建甫
委員-陳達新
委員-簡明哲
委員-姚蕙芸
中文關鍵字 國際化  銀行規模  銀行經營績效  縱橫平滑移轉迴歸模型 
英文關鍵字 Internationalization  bank scale  operation performance  Panel Smooth Transition Regression Model 
學科別分類
中文摘要 本研究旨在探討本國銀行業之國際化策略是否會因銀行規模之大小差異而對其經營之績效產生影響,並臆測其存在非線性之影響現象。本研究以設有海外分行的14家本國銀行為實證研究對象,並擷取2006年第二季至2009年第四季之平衡式縱橫財務資料,以EPS、ROA、ROE作為銀行獲利績效之代理變數,以銀行資產規模為模型中的移轉變數,並以存放比率、活期性存款比率、逾放比率、海外分行營收比率為額外的控制變數,嘗試運用縱橫門檻平滑移轉迴歸模型(Panel Smooth Transition Regression Model)進行實證,探討本國銀行業國際化策略在規模差異下與經營績效是否存在縱橫平滑移轉效果。研究結果顯示,銀行業規模之大小差異並不會造成銀行業國際化策略對銀行經營績效之影響呈現非線性之關係,因此,本研究將資料進行複迴歸分析並檢定變數間可能產生的異質影響變化,研究結果發現:
一、以海外分行營收比為代理、變數的本國銀行業國際化程度對銀行譏笑之影響皆呈現負向影響。
二、逾放比之增加為銀行經營績效惡化的重要因素。
三、存放比及活期存款比率對銀行經營績效之影響呈現正向影響。
四、當銀行規模在1.4906兆新台幣時,銀行經營績效會發生結構性變化。然而,雖結果顯示本國銀行業之國際化策略在銀行規模大小差異下,對銀行經營績效存在平滑移轉效果,使產生區間轉換,但此結構變化並不顯著。
表單編號:ATRX-Q03-001-FM030-01
英文摘要 This paper aims to explore whether the domestic bank’s internationalization strategy has a significant impact on operation performance under the scale difference, and speculate the existence of nonlinear phenomenon.
This study investigates a total of 14 domestic banks which have established overseas branches, takes Panel Smooth Transition Regression Model by selecting relative financial variables from the second quarter of 2006 to the fourth quarter of 2009 to execute empirical test and hopes to find the smooth transition effects of internationalization on domestic banks’ operation performance under the bank scale difference. The empirical results are as follows:
I. There is no existence of nonlinear phenomenon between the bank scale and bank's internationalization strategy impact on operation performance.
II. The internationalization strategy will have a negative impact on operation performance.
III. The increasing NPL ratio is an important factor to the deterioration of operation performance.
IV. Both loan-to-deposit ratio and demand deposit ratio have positive effects on operation performance.
V. There exists one threshold value of NTD1.4906 trillion for bank scale indicated the existence of smooth transition effects on the bank's internationalization strategy impact on operation performance under the scale difference. However, the finding of this smooth transition effect is not significant.
表單編號:ATRX-Q03-001-FM031-01
論文目次 目錄
第一章 緒論……………………………………………………1
第一節 研究背景與動機………………………………………1
第二節 研究目的………………………………………………3
第三節 研究架構………………………………………………3
第二章 文獻探討………………………………………………5
第一節 金融國際化的經營策略相關文獻……………………5
第二節 銀行國際化相關理論…………………………………9
第三節 國際化程度與經營績效相關文獻……………………10
第四節 銀行規模與經營績效相關文獻………………………12
第五節 銀行獲利性評估指標相關文獻………………………13
第三章 研究方法………………………………………………15
第一節 研究資料………………………………………………15
第二節 縱橫單根檢定…………………………………………16
第三節 縱橫平滑移轉迴歸模型………………………………18
第四節 縱橫平滑移轉迴歸模型之設定………………………21
第四章 實證結果與分析………………………………………27
第一節 各變數之基本敘述統計分析…………………………27
第二節 縱橫單根檢定之實證結果……………………………28
第三節 線性檢定與複迴歸分析………………………………30
第四節 縱橫平滑移轉模型之參數估計與檢定………………33
第五章 研究結論與建議………………………………………44
第一節 結論……………………………………………………44
第二節 研究建議………………………………………………45
參考文獻………………………………… ………………………47
國內文獻…………………………………… ……………………47
國外文獻…………………………………… ……………………48
表目錄
表2-5-1 衡量各獲利性指標之意涵……………………………14
表4-1-1 各變數之基本統計量…………………………………27
表4-2-1 各變數原始序列之單根檢定…………………………29
表4-3-1 銀行規模對公司經營績效之同質性檢定……………31
表4-3-2 以EPS為應變數所得的複迴歸分析結果… …………32
表4-3-3 以ROA為應變數所得的複迴歸分析結果…… ………32
表4-3-3 以ROE為應變數所得的複迴歸分析結果…… ………32
表4-4-1 銀行規模對公司經營績效之轉換區間個數檢定……34
表4-4-2 銀行規模對EPS之模型估計結果…… ………………35
表4-4-4 銀行規模對EPS模型中解釋變數之影響… …………37
表4-4-5 銀行規模對ROA之模型估計結果……………… ……38
表4-4-6 銀行規模對ROA模型中解釋變數之影響………… …40
表4-4-7 銀行規模對ROE之模型估計結果……………… ……41
表4-4-8 銀行規模對ROE模型中解釋變數之影響……… ……43
圖目錄
圖1-3-1 研究流程圖……………………………………………4
圖3-3-1 m=1之轉換模型………………………………………20
圖3-3-2 m=2之轉換模型………………………………………21
圖4-4-1 銀行規模對EPS之轉換函數…………………………36
圖4-4-2 銀行規模對ROA之轉換函數…………………………39
圖4-4-3 銀行規模對ROE之轉換函……………………………42
參考文獻 國內文獻
朱一衛、洪緯典和姚政文,2009,「台灣金融控股公司獲利效率與市場效率之評估」,2009年海峽兩岸創新與永續經營學術研討會、2009年管理創新與科技整合學是研討會.
何憲章,2001,國際財務管理(理論與實務),四版,台北市,新陸書局出版。
施宛怡(2004),「國際化程度與台灣製造業廠商之財務績效 」,國立交通大學經營管理研究所碩士論文。
陳美玲,「金融控股公司法對我國金融業之財富與風險效果分析」,台灣大學財務金融研究所碩士論文,台北,2002年。
張清山,「資本適足率管制對銀行風險與財務績效關聯性之影響」,輔仁大學金融研究所碩士論文,台北,2002年。
張燕玉(2005)「國際化程度對銀行經營績效之影響—以台灣本地銀行為例」,國立政治大學行政管理研究所碩士論文。
彭智強(2002)。「多角化與國際化策略配合對企業經營績效關係之研究-以技術生命週期觀點分析之 」,中原大學企業管理研究所碩士論文。
劉富美(2002)。「台灣上市公司產品多角化與國際化程度對財務特性影響之探討」,國立中山大學財務管理學系研究所碩士論文。
國外文獻
Altunba, Yener and David Marques (2008), “Mergers and Acquisitions and Bank Performance in Europe: The Role of Strategic Similarities,” Journal of Economics and Business, vol. 60(3), pp.204 -222.
Anderson, Erin and Hubert Gatignon (1986), ”Modes of Foreign Entry: A Transaction Cost Analysis and Propositions,” Journal of International Business Studies, vol. 17(3), pp.1-26
Andrews, D. W. K. and W. Ploberger (1994), “Optimal Tests when a Nuisance Parameter is Present Only under the Alternative,” Econometrica, vol. 62, pp.1383–1414.
Annavarijula, M. and S. Beldona (2000),” Multinationality-Performance Relationship: A Review and Reconceptualization,“ The International Journal of Organizational Analysis,
8(1), pp.48-67.
Berger, Allen N. (2007), “Obstacles to a Global Banking System: ‘Old Europe’ versus ‘New Europe’,” Journal of Banking and Finance, vol. 31(7), pp.1955~1973.
Blank, Sven and Claudia M. Buch (2010), “International Bank Portfolios: Short- and Long-Run Responses to Macroeconomic Conditions,” Review of International Economics, vol. 18(2), pp.289-306.
Buhner, R. (1987), “Assessing International Diversification of West German Corporations”, Strategic Management Journal, vol. 8, pp.25-37.
Christophe, S. E. and H. Lee (2005), “What Matters about Internationalizaton: A Market-Based Assessment.” Journal of Business Research, Vol .58, pp.636-643.
Davis, R. B. (1977), “Hypothesis Testing when a Nuisance Parameter is Present Only under the Alternative,” Biometrika, vol. 64, pp.247-254.
Davis, R. B. (1987), “Hypothesis Testing when a Nuisance Parameter is Present Only under the Alternative,” Biometrika, vol. 74, pp.33-43.
Dietrich, Diemo and Uwe Vollmer (2010), ” International Banking and Liquidity Allocation,” Journal of Financial Services Research, vol. 37(1), pp.45-69.
Donaldson, G. (1985), “Financial Goals and Strategic Consequences”, Havard Business Review, vol. 8, pp.57-60.
Geringer, J.M., P.W. Beamish and R.C. Costa (1989), “Diversification and Internationalization: Implications for MNE Performance”, Strategic Management Journal, vol.10, pp.109-119.
Gonza'lez, A., T. Teräsvirta and D. V. Dijk (2004), “Panel Smooth Transition Regression Model and an Application to Investment under Credit Constraints,” Unpublished manuscript, Stockholm School of Economics
Gonza'lez, A., T. Teräsvirta and D. V. Dijk (2005), “Panel Smooth Transition Regression Models,” Unpublished manuscript, Stockholm School of Economics.
Granger, C. W. J. and T. Teräsvirta (1993), “Modelling Nonlinear Economic Relationships,” Oxford University Press
Hagendorf, Jens and Kevin Keasey (2009), “Post-Merger Strategy and Performance: Evidence from the US and European Banking Industries,” Accounting and Finance, vol. 49(4), pp.725 -751.
Hameeteman, D. and B. Scholtens (2000), “Size, Growth, and Variance Among the World's Largest Non-merged Banks”, International Journal of the Economics of Business, vol.7(3), pp.313-323.
Hansen, B. E., (1996), “Inference when a Nuisance Parameter is Not Identified under the Null Hypothesis,” Econometrica, vol. 64, pp.413-430.
Hansen, B. E., (1999), “Threshold Effects in Non-Dynamic Panels: Estimation, Testing, and Inference,” Journal of Econometrics, vol. 93, pp.345-368.
Higgins, R.C. (1977), “How Much Growth Can a Firm Afford?”, Financial Management, Fall, pp.7-16.
Im, K. S., M. H. Pesaran, and Y. Shin (2003), “Testing for Unit Roots in Heterogeneous Panels,” Journal of Econometrics, vol. 115, pp.53–74.
Jagersma, Pieter Klaas (2006), “Strategic Marketing and the Global Banking Industry: Elements of Excellence,” Journal of Business Strategy, vol. 27(4), pp.50–59.
Jansen, E. S. and T. Teräsvirta (1996), “Testing Parameter Constancy and Super Exogeneity in Econometric Equations,” Oxford Bulletin of Economics and Statistics, vol. 58, pp.735–763.
Kotabe, M., S. S. Srinivasan and P. S. Aulakh (2002), “Multinationality and Firm Performance: The Moderating Role of R&D and Marketing Capabilities,” Journal of International Business Studies, 33(1), pp.79-97.
Kosmidou, Kyriaki (2008) “The Determinants of Banks' Profits in Greece during the Period of EU Financial Integration,” Managerial Finance, vol. 34(3), pp.146 – 159.
Lehner, Maria (2009), “Entry Mode Choice of Multinational Banks,” Journal of Banking and Finance, vol. 33(10), pp.1781-1792.
Levin, A., C. F. Lin, and C. Chu (2002), “Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties,” Journal of Econometrics, vol. 108, pp.1–24.
Lundbergh, S., T. Teräsvirta, and D. V. Dijk (2003), “Time-Varying Smooth Transition Autoregressive Models,” Journal of Business and Economic Statistics, vol. 21, pp.104–121
Luukkonen, R., P. Saikkonen, and T. Teräsvirta (1988), “Testing Linearity Against Smooth Transition Autoregressive Models,” Biometrika, vol. 75, pp.491–499.
Maddala, G. S. and S. Wu (1999), “A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test,” Oxford Bulletin of Economics and Statistics, vol. 61, pp.631-652.
Mariotti, Sergio and Lucia Piscitello (2010), “International Growth of Banks: from Competence-Exploiting to Competence-Enhancing Strategies?”, The Service Industries Journal, vol. 30(7), pp.1007-1024.
Mercieca, S., K. Schaeck and S. Wolfe (2008),”Small European Banks: Benefits from Diversification?,” Journal of Banking & Finance, vol. 31(7), pp.1975-1998.
Moshirian, Fariborz (2008), “Financial Services in an Increasingly Integrated Global Financial Market,” Journal of Banking & Finance.vol. 32(11), pp.2288-2292.
Qian, Lihong and A. Delios (2008),” Internalization and Experience: Japanese Banks' International Expansion, 1980-1998,” Journal of International Business Studies, vol. 39(2), pp.231-248.
Rappaport, A. (1981), “Selecting Strategies that Create Shareholder Value”, Harvard Business Review, May-June, pp. 139-148.
Roger, K.E. and J.F. Sinkey (1999), “An Analysis of Nontrational Activities at US Commercial Banks”, Review of Financial Economics, vol. 8, pp.25-39.
Slager, Alfred (2006) “The Internationalization of Banks: Patterns, Strategies and Performance,(Hampshire:Palgrave MacMillan).
Sullivan, D. (1994), “Measuring the Degree of Internationalization of a Firm”, Journal of International Business Studies, Second Quarter, pp.325-342.
Teräsvirta, T. (1994), “Specification, Estimation, and Evaluation of Smooth Transition Utoregressive Models,” Journal of the American Statistical Association, vol. 89, pp.208–218.
Teräsvirta, T. (1998), “Modelling Economic Relationships with Smooth Transition Regressions,” in Handbook of applied economic statistics, ed. by A. Ullah, and D. E. A. Giles, pp. 507–552.New York: Marcel Dekker.
Vernon, R. (1971), “Sovereignty at Bay: The Multinational Spread of U.S. Enterprises”, New York, Basic Books.
論文使用權限
  • 同意紙本無償授權給館內讀者為學術之目的重製使用,於2016-02-23公開。
  • 同意授權瀏覽/列印電子全文服務,於2016-02-23起公開。


  • 若您有任何疑問,請與我們聯絡!
    圖書館: 請來電 (02)2621-5656 轉 2281 或 來信