台灣銀行業股權結構之公司治理效果;The Governance Effect of Ownership Structure for Taiwanese Banks.

NCUIR > School of Management at National Central University > Executive Master of Finance Management > Electronic Thesis & Dissertation > Item 987654321/65381

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Title:	台灣銀行業股權結構之公司治理效果;The Governance Effect of Ownership Structure for Taiwanese Banks.
Authors:	羅明裕;Lo,Ming-yu
Contributors:	財務金融學系在職專班
Keywords:	公司治理;經營績效;股權結構;近似不相關迴歸模型;Corporate governance;Performance;Ownership structure;Seemingly unrelated regressions
Date:	2014-07-08
Issue Date:	2014-10-15 15:29:55 (UTC+8)
Publisher:	國立中央大學
Abstract:	以30家台灣銀行在2008至2012年間為樣本，本研究檢視股權結構變數(大股東持股比率、經理人持股比率及法人持股比率)對銀行經營績效之影響，其中績效變數包括了資產報酬率(ROA)、資本適足率(BIS)及流動比率(liquidity)。透過一般多重線性迴歸模型(OLS)及近似不相關迴歸模型(SUR)來進行分析，我們發現：(1)大股東比率持股對資產報酬率影響為負，但對資本適足率與流動比率影響為正，顯示大股東喜好穩健的經營策略；(2)經理人持股比率對資產報酬率及流動比率影響為正，但對資本適足率影響為負，顯示高持股經理人確實有追求公司高度成長之動機；(3)法人持股比率對資產報酬率及流動比率影響皆為負，整體而言我們並無發現法人持股對銀行有顯著的監督效果。;With a sample of 30 commercial banks in Taiwan from 2008 to 2012, we examine how the ownership variables, including block ownership, managerial ownership, and institutional ownership, affect bank performance, where we measure performance with return on assets (ROA), BIS, and liquidity ratios. Analyzing our sample with both ordinary least squares (OLS) and seemingly unrelated regressions (SUR) models, we find (i) block ownership negatively relates to ROA and positively relates to BIS and liquidity ratios, indicating block holders prefer safer operating strategy; (ii) managerial ownership positively relates to ROA and liquidity ratios but negatively relates to BIS, indicating those managers with higher ownership indeed seek higher growth; (iii) institutional ownership negatively relates to ROA and BIS ratios, indicating there is no evidence institutional investors intensively monitor bank management.
Appears in Collections:	[Executive Master of Finance Management] Electronic Thesis & Dissertation

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