臺灣銀行業合併前後績效之研究

Abstract

本研究主要探討台灣地區銀行合併前後績效之變化，以2002年至2005年的國內銀行與銀行之合併案作為實證研究對象，以勞動投入報酬率、資本報酬率與NIM(Net Interest Margin)作為衡量指標，利用Panel Data實證模型，分析銀行在合併前後績效之變化。根據實證結果得到以下結論： 一、購併前合併銀行的績效較被併銀行佳。 二、合併銀行的績效在購併初期受到負面影響，但隨時間的拉長獲得改善。 三、合併後費用並未縮減。 四、規模較小的銀行才會因合併發揮規模經濟效益。 五、市佔率的增加有助於市場力與績效的提升。 六、視合併前主併與被併銀行為同一個體，則勞動投入之報酬率在合併後即產生效益。 七、銀行較偏好資本報酬率的合併效益。

The thesis presents an analysis of the changes in performance after bank mergers in Taiwan. This research uses 2002-2005 panel data to examine the bank mergers. In this study, Return on Equity, Profit/Labor Expense Ratio and Net Interest Margin are measures to evaluate before and after performance of bank mergers. The results of the empirical study are summarized as follows: 1.Before mergers, the performance of merging banks is better than that of merged banks. 2.The performance of merging banks suffers negative effects from the beginning of the merger, but it would be improved with time. 3.The effects of mergers show that costs are not cut down. 4.Banks with smaller size would achieve economies of scale due to mergers. 5.The increasing of market share is significant to improve the performance and market power. 6.When considering the merging bank and merged bank as one bank before mergers, the Profit/Labor Expense Ratio rises after mergers. 7.Banks improve Return on Equity much more than Profit/Labor Expense Ratio after mergers.