臺灣銀行業國際化與績效表現：持股結構之調節效果

Abstract

本論文旨在探討臺灣本國銀行之國際化程度對財務績效的影響，並進一步分析不同持股結構在其中所扮演的調節角色。研究對象為2015年至2024年間設有海外據點之臺灣本國銀行，實證方法採用固定效果模型，並以「海外資產佔總資產比例」與「海外營收佔總營收比例」作為國際化程度之衡量指標，分析其對多項財務績效指標的影響。 實證結果顯示，海外資產佔比對銀行績效整體呈現穩定且顯著的正向效果，尤以提升資產報酬率、降低逾放比率與強化放款成長動能最為明顯。相較之下，海外營收佔比之影響較為零散，部分績效構面甚至呈現負向效果。進一步分析持股結構的調節作用後發現，家族持股能強化資產國際化對放款成長與資產品質的正向效果；政府持股雖提升放款成長表現，但在國際化擴張下反而收斂其動能，顯示其具風險制衡作用；機構投資人則對國際化擴張持較為審慎態度，展現其風險控管機制。 綜上所述，國際化有助於提升銀行財務表現，惟其成效仍受到股權結構之調節。銀行在推動海外布局時，應審慎評估自身治理條件與資源配置能力，並同步建立完善的風險管理體系，以確保國際化策略之穩健推進與長期競爭優勢。

This study aims to examine the impact of internationalization on the financial performance of Taiwanese domestic banks, and further analyzes the moderating effects of different ownership structures on this relationship. The research sample consists of Taiwanese banks with overseas branches during the period from 2015 to 2024. A fixed effects model is employed for empirical analysis, with the ratios of overseas assets to total assets and overseas revenue to total revenue serving as proxies for the degree of internationalization. The study investigates their effects on various financial performance indicators. The empirical results show that the proportion of overseas assets has a consistently significant and positive effect on bank performance, particularly in enhancing return on assets, reducing non-performing loan ratios, and strengthening loan growth momentum. In contrast, the effects of overseas revenue are more fragmented, with some aspects of performance even exhibiting negative impacts. Further analysis of the moderating role of ownership structure reveals that family ownership strengthens the positive impact of asset internationalization on loan growth and asset quality. Government ownership contributes to loan growth but tends to moderate the expansionary impact of internationalization, suggesting a risk-balancing effect. Institutional investors, on the other hand, adopt a more cautious stance toward international expansion, reflecting their role in risk management. In conclusion, internationalization can enhance bank financial performance, but its effectiveness is subject to the moderating influence of ownership structure. Banks seeking to expand internationally should carefully assess their governance conditions and resource allocation capabilities, while establishing sound risk management systems to ensure the steady advancement of international strategies and long-term competitiveness.