台灣地區銀行之經營績效--結合財務比率之資料包絡分析法的應用

Abstract

本研究應用資料包絡分析法，參考Seiford and Zhu於1999年提出之二階段生產過程的研究模型，先後分為二階段進行台灣地區銀行績效比較；第一階段先就台灣地區銀行經營效率進行比較，第二階段則結合財務比率，就台灣地區銀行獲利能力進行比較，並探討銀行規模大小及屬性差異，對其經營效率與獲利能力之影響。資料來源主要取自於台灣經濟新報資料庫（TEJ），研究期間自1998至2005年，樣本銀行家數因銀行間進行整併，各年度略有差異，分別為1998-2000年29家、2001-2002年32家、2003-2004年31家、2005年30家。第一階段共選取三個投入項（固定資產、存款總額、員工）及三個產出項（放款總額、投資總額、手續費收入）；第二階段以第一階段三個產出項為投入項，並選取ROA、ROE二項財務比率及營業利益做為產出項。

本研究主要發現如下： (1)台灣地區銀行經營效率的表現明顯比獲利能力良好，前者整體技術效率平均值（0.798）遠高於後者（0.496），顯示台灣地區銀行在獲利能力面向，相對無效率之銀行家數，遠多於經營效率面向；在本土金融經營環境已趨近完全競爭市場，無超額利潤可圖的情形下，台灣地區銀行有待積極開發海外市場。 (2)本研究中「明星」類型的銀行，即經營效率與獲利能力表現均相對有效率的銀行，幾乎均為資產總額小於5000億元台幣之中小型銀行；而資產規模超過兆元台幣以上之大型銀行，則多屬於「問題」類型及「狗」類型，此兩類型均為獲利能力相對偏低的銀行。 (3)公營銀行及已民營化之銀行（前身為公營銀行），在本研究效率－獲利矩陣的四分群中，多屬於「問題」類型的銀行，具相對較低之經營效率及獲利能力，且在該矩陣的分布上呈現聚集成群的現象，惟民營銀行在矩陣的分布上則顯得較為分散，顯示公營銀行同質性高於民營銀行。 (4)加入金控架構之子銀行，經營效率略優於非金控之獨立銀行；至於獲利能力，非金控之獨立銀行則略優於金控架構下子銀行，顯示在短期間內，金控合併綜效尚未顯現。

關鍵詞：資料包絡分析法(DEA)、二階段DEA、經營效率、獲利能力、整體技術效率、效率－獲利矩陣、台灣地區銀行。

Applying data envelopment analysis (DEA) approach, this thesis employs a two-stage production process proposed by Seiford and Zhu (1999) to study the operational and profitability efficiency of Taiwan’s domestic banks from 1998 to 2005. The research objects slightly change from year to year due to the merging of the banks. The numbers of banks in this research are 29 from 1998 to 2000, 32 from 2001 to 2002, 31 from 2003 to 2004, and 30 in 2005. Three outputs (loans, investment, and commissions & fee income) and three inputs (fixed assets, deposits, and employees) are used to compute the operational efficiency in the first stage. Outputs in the first stage are used as inputs to measure the profitability performance. In the second stage two financial ratios (ROA and ROE) and operating profit are outputs. All nominal variables have been transformed into real variables by the GDP deflators using 1998 as the base year.

Empirical findings are as follows: (1) The operational efficiency is significantly better than the profitability performance of Taiwan’s domestic banks, implying that they need to develop the overseas market since the local market is too small to earn excess profits. (2) Median and small sized banks with less than NTD 500 billion assets have better performance in both operational and profitability efficiency while big sized banks with more than NTD 1000 billion assets have a worse performance in profitability. (3) Government-owned and privatized banks have a worse performance in operational efficiency as well as profitability. (4) The financial holding companies（FHC） do not have better performance than non-FHC banks.

Keywords: DEA, two-stage DEA, operational efficiency, profitability, overall technical efficiency, the efficiency-profitability matrix, Taiwan's domestic banks.