公司治理執行狀況與銀行績效關聯性之研究

Abstract

摘 要 公司治理（Corporate Governance）概念一般泛指公司管理與監控的方法。證期局於1998年起即開始向國內公開發行公司宣導公司治理之重要性，而為配合趨勢 ，臺灣證券交易所及銀行公會於92年12月底，分別發佈金控公司治理實務守則及銀行業公司治理實務守則。 本研究試圖以較寬廣的角度來切入公司治理與企業績效相關性之問題，期望利用銀行業公司治理實務守則對國內各銀行所提出之治理建議，對各銀行做一公司治理之評等，藉由這樣的評等來分析國內各銀行之績效優劣是否與該行公司治理執行之情況有所關聯。此外，也希望藉由這樣的方式，對未來銀行業公司治理實務守則之修訂方向，給予適當的建議，使該守則更符合實際上的需要，以真正健全國內銀行體質，進而提升國內銀行之績效。 本研究係以銀行業公司治理實務守則之六個構面做為判斷樣本銀行公司治理執行情況之標準，藉以探討確實執行該守則是否對於銀行業之績效有所幫助，進而提供主管機關適當之建議。 研究之結果顯示，執行該守則建議之事項，對於銀行業之績效確實有某種程度的幫助。尤其是對於每股盈餘之影響，遵循法令並健全內部管理、強化董事會職能、發揮監察人功能與提升資訊透明度等四個構面，皆與每股盈餘呈現顯著正相關。在淨值報酬率與資產報酬率方面，發揮監察人功能與提升資訊透明度與淨值報酬率呈顯著正相關，保障股東權益與提升資訊透明度則與資產報酬率呈顯著正相關。另一方面，逾放比則與遵循法令並健全內部管理與強化董事會職能則與之呈現顯著負相關。

Abstract Corporate governance can be broadly defined as the method used to manage and monitor the company. The Securities and Futures Bureau emphasize the importance of Corporate Governance to public company since 1998. Taiwan Stock Exchange corporation and The Bankers Association issue the Corporate Governance Best-Practice Principles for financial holding company and the Corporate Governance Best-Practice Principles for bank (CGBP) in December 2003 respectively. This study uses the six dimensions CGPB proposed as the standard to determine the situation of corporate governance in bank and to rank the bank. The process provides a basis for use to discuss the relationship between corporate governance and firm performance. In addition, the study provides further suggestions for the CGPB. The results show that banks complying with CGPB have better performance. Among the dependent variables, the effect of earnings per share is most significant. Complying with the law and making the internal control well, strengthening the powers of the board of directors, fulfilling the function of supervisors and enhancing information transparency, are positively related to EPS. Fulfilling the function of supervisors and enhancing information transparency, are positively related to ROE. Protecting shareholders' rights and interests and enhancing information transparency, are positively related to ROE. On the other hand, complying with the law and making the internal control well and strengthening the powers of the board of directors, are negatively related to the non-performing loan ratio.