國際化程度與績效表現的關係-以台灣本土銀行為例

Abstract

台灣本國金融市場成長空間有限，加上面臨金融服務市場開放之壓力，台灣金融機構紛紛藉由跨國業務來增益其收入、市占率並強化其競爭力。本文旨在利用跨國化指數（TNI）作為衡量台灣本土銀行國際化程度的指標，去除繁瑣的多元迴歸模型，來探討國際化程度對績效表現與風險的關係。 研究結果發現，台灣目前還處於國際化發展的初期階段，國外收入占整體收入的比例偏低。而台灣的國際化與績效的圖形比較接近J型曲線，在國際化初期會有一段績效惡化的時期，直到有學習效果，國際化帶來的報酬便能提升。學習效果亦影響風險報酬，在國際化初期，雖然經營區域增加，但風險亦同時增加，須等到國際業務的經驗與技術成熟後，風險報酬才開始下降，始產生區域多角化風險分散的特性。

The economic scale of Taiwan is limited and in a long term recession period. The domestic financial market is with limited growth as well. As a result, the financial institutions in Taiwan take use of the foreign business to gain their growth, market share, revenue and competitiveness. Instead of complicated model, this report aims to use Transnationality Index（TNI）to measure the internationalization of banks, and the relationships among TNI, performance and risk. The key finding is that the foreign activities only account for a little part of overall and is in the early stages of international development. Taiwan’s graphic of internationalization and performance is a “J-curve”, which means that internationalization costs outweigh benefits until banks gain experience and learn to deal with them. A higher degree of internationalization is negatively related to risk-return, while a lower degree of internationalization is positively related to risk-return.