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標題: | 資產負債表洗澡對銀行之重要性 - 以瑞銀對比德意志銀行 The Importance of Taking Big Bath in Banking Industry - The Cases of UBS and Deutsche Bank |
作者: | Chun-Chieh Hu 胡峻杰 |
指導教授: | 李賢源(Shyan-Yuan Lee) |
關鍵字: | NULL |
出版年 : | 2020 |
學位: | 碩士 |
摘要: | 銀行業是支撐實體經濟活動重要的力量,但在全球化浪潮下,每當面對經濟衰退或是金融危機,銀行業往往遭受很大傷害,被迫在業務轉型或對不良資產上做特別處置,政府也面臨是否針對銀行加強監管或是紓困的艱難選擇。
本研究旨在透過歐洲兩大銀行:瑞銀集團和德意志銀行,在次貸危機前後的發展,來研究銀行在艱困時期對資產負債表大洗澡後,對其未來業務和財務表現的影響,以及市場對其評價的改變。本論文採用個案研究,分析兩家銀行從誕生以來內外環境的不同的情況下,銀行如何在危機中決策對不良資產的處置,最終造成了兩者在次貸危機時期和現在完全相反的評價。 擁有同樣發展軌跡的兩大歐洲銀行,在次貸危機後,兩家銀行對不良資產的處理和業務發展截然不同。研究結果指出,當銀行面對破產危機時,銀行應對風險更積極的揭露,並嚴格認列不良資產減損以追求長期發展。銀行和政府在公開透明的原則下,透過政府分擔部分風險,訂定穩定市場機制的情況下,市場機制自然能發揮作用,大型銀行即可透過調整自身策略,重返正軌。 The banking industry is an important force supporting real economic activity. The banking industry, whenever facing economic recession or financial crisis, has often suffered great harm and been forced to restructure its business or make special arrangements for the toxic assets. The government also faced with the difficult choice of whether to strengthen supervision or bail out against banks. This study looks at the development of the two largest European banks, UBS and Deutsche Bank, before and after the subprime mortgage crisis. The impact on their future business and financial performance after the big bath during the hard times and the changes in the market's perception. This paper uses a case study to analyze how a bank makes decisions in a crisis given the different internal and external circumstances of the two banks since their inception. The disposition of toxic assets ultimately resulted in opposite evaluations between the two banks during the subprime crisis and today. The treatment of toxic assets and business development of the two major European banks, which share the same trajectory of development, have been very different since the sub-prime crisis. The findings suggest that when a bank faces an insolvency crisis, banks should be more proactive in disclosing risks and should strictly recognize impairment of toxic assets to pursue long-term development. Under the principle of openness and transparency, with the government sharing part of the risks and establishing a stable market mechanism, the market mechanism can naturally play a role, and large banks can then adjust their strategies to get back on track. |
URI: | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/15354 |
DOI: | 10.6342/NTU202001174 |
全文授權: | 未授權 |
顯示於系所單位: | 財務金融學系 |
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U0001-2806202023210500.pdf 目前未授權公開取用 | 2.29 MB | Adobe PDF |
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