本國銀行國際化策略對經營效率的影響：隨機前緣法應用

Abstract

本研究以國內36家銀行作為研究對象，使用2009年第四季到2013年第四季共四年期的季資料，探討銀行國際化的程度與其效率之間的關係。本研究利用隨機前緣法對本國銀行的成本效率進行分析，將銀行經營的隨機性與不效率性納為分析的因素。接著利用三個國際化構面：(1)海外市場滲透性、(2)海外生產活動、(3)國家範疇，探討本國銀行的國際化策略。最後，以當期與落後期的迴歸模型做對比，探討國際化程度與效率的關係；再以非線性迴歸模型分析本國銀行，國際化程度與效率之間關係為何。 本研究有以下結論： 1.銀行業整體效率有逐年退步的趨勢。而在所有銀行類別中，工業銀行的效率最佳，接著依序是商業銀行、政策性銀行與外資銀行，公股銀行的效率最差。 2.銀行對海外收入來源的依賴程度越高，國內經營的效率越差，但此效果會逐漸地減弱。另一方面，銀行海外生產的涉入程度越高，起初會顯著改善銀行經營的效率，但此效果亦會逐漸消失。銀行提高海外經營的廣度，同樣是初期會帶來成本效率提升的好處，但隨時間經過，好處會逐漸消失，最後反而會是效率降低。銀行整體國際化程度提高，隨時間經過會使經營越來越不效率。 3.本研究發現銀行國際化程度與成本不效率間存在U型的關係。銀行在國際化初期，透過國際金融市場網絡的便利，享受到成本效率提升帶來的好處。然而一但擴張超過某個程度，銀行無法負荷積極擴張下經營難度或額外成本的增加，使得成本效率開始惡化。此時國際化反而拖累國內市場的經營，使得銀行更加沒有效率。

This paper provides an insight into the relation between internationalization and efficiency with a sample of 36 Taiwanese domestic banks for the period 2010-2013. We estimate operating efficiency using stochastic frontier approach which takes into account both randomness and inefficiency of banks’ operation, and discuss internationalization of domestic banks from three aspects: (1) foreign market penetration, (2) foreign production presence, (3) country scope. Based on the estimation above, we investigate the relation of banks’ efficiency and degree of internationalization comparing current and lag period regression model, then depict the shape of their relation using nonlinear model. Our analysis has three main results. 1.The overall efficiency of banking industry had been decreasing from 2010 to 2013. Industrial bank has the best efficiency and followed in sequence by commercial bank, policy bank, and foreign-capital bank. State-owned bank performe the worst efficiency. 2.The more banks relying on foreign income, the worse their cost efficiency, but this effect fades over time. On the other hand, banks with more foreign production presence will initially improve cost efficiency and fades over time. Similarly, banks with broader country scope will initially improve cost efficiency, but this effect not only fades overtime but even worsens operating efficiency. On the whole, with higher level of internationalization, banks’ cost efficiency reduces over time. 3.There exist a U shape relation between the relation of banks’ efficiency and internationalization. Banks initially benefit from internationalization strategy, but efficiency deteriorates once over certain degree of internationalization.