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| 題名: | 臺灣銀行間購併之可行性分析 |
| 其他題名: | A Practicable Analysis for Merger and Acquisition Activities between Banks in Taiwan |
| 作者: | 趙康惟
Kang, Wei-Chao |
| 貢獻者: | 亞洲太平洋研究所
傅篤誠 |
| 關鍵詞: | 銀行;合併;購併;銀行購併
Bank;Merger;Acquisition;Bank of Merger and Acquisition |
| 日期: | 2000 |
| 上傳時間: | 2015-05-12 13:41:15 (UTC+8) |
| 摘要: | 全球金融業合併熱潮一波接著一波出現，大致是因應經濟全球化趨勢，為了提升競爭力而採取的合縱連橫策略。縱觀其合併型態，可以區分為兩種，其一是具有競爭關係的同業之間從事水平結合，目的在於擴大營運規模，同時藉著裁併分行，縮減人事等配套措施，達到成本節約的效果。花旗銀行與旅行家集團合併，德意志銀行購併美孚銀行，就是著名實例；其二是異業之間的多角化結合，主要著眼於增加業務項目，發揮互補功能，提升營業綜效。在這項考量下，銀行業與證券業結盟，或是金融機構與資訊業合設網路銀行，將成為常見現象。這些合併都是金融業者為增進經營利益而採的自發行為，與各國政府政策無關，購併主要的動機：有些是為擴大市場佔有率，擴大經營規模，進行多角化經營，進入不同領域；有些是因為經營不善，壞帳太高，為了求生存而不得不進行合併；也有些是為了節省成本，提高經營效率；還有些是為了獲取相關技術及行銷通路，或為提升電腦設備之投資效益，達到規模經濟利益。 目前我國銀行在全省設立的分行，保守估計，應超過1000家以上，以臺灣總面積三萬六千平方公里的範圍，分行密度恐怕是全世界最高的紀錄。而分行家數太多，確實讓消費大眾享受更便利的金融服務，但相對亦產生許多後遺症，因業務競爭激烈，而降低授信審查門檻，造成信用嚴重擴張的問題，使得銀行經營品質難以有效提升，這樣是否符合經濟效率？本論文以臺灣地區33家股票上市銀行為研究對象，資料研究期間自民國80年1月3日至民國88年12月28日為止；主要以政府的觀點去做分析，其基本假設的前提是「體質優良的股票上市銀行去購併體質較差的股票上市銀行」，而不以體質優良的股票上市銀行本身的觀點做考量。 根據第四章實證分析結果，我們已經知道中華開發、中國商銀、中信銀、萬泰銀行、台新銀行、華信銀行以及交通銀行為體質優良的股票上市銀行。在我們考慮到「最適資源配置權重」與「實際資產權重」這兩個因素之後，我們可以這樣說：1、中華開發、中信銀、台新銀行以及華信銀行未來可以考慮走入「以大取勝」的經營模式；2、中國商銀、萬泰銀行以及交通銀行未來可以採取「小而美」的經營方式。以下所列是中華開發、中信銀、台新銀行以及華信銀行「未來可以購併的股票上市銀行最適排名」： 1、中華開發：匯通銀行。 2、中信銀：萬通銀行、玉山銀行。 3、台新銀行：高雄銀行、匯通銀行。 4、華信銀行：台中銀行、玉山銀行、彰化銀行、東企。
There have been waves after waves of mergers in the financial sector around the world. The main cause of such activities is the economic globalization which demands such strategies to enhance competitiveness. Roughly two forms of such mergers can be identified. One is the horizontal integration of competing institutions, aiming at enlarging the scale of operation and cutting cost through reduction of branches and the downsizing that comes with it. The amalgamation of Citibank and Travelers Group Inc, as well as the taking-over of Ma-Fu Bank by Deutsche Bank are well-known examples. The second form is the multi-facet integration between differing businesses, with the objective of diversification by bringing together complementary businesses so as to raise the overall operational effectiveness. To this end, the union between banks and securities houses, or the creation of Internet banks jointly by financial institutions and information technology companies will be pretty common in the future. Such mergers are the voluntary actions of the financial sector to further its own interests. It has nothing to do with government policies of the various countries. The main objectives of takeovers and mergers may vary: some for enlarging market share, expanding the scale of operation, and diversifying into different businesses; some are forced into mergers for survival because their poor operation has built up huge bad debts; others for cutting cost and enhancing operational efficiency; still others for acquiring related technology and established sales outlets, or for boosting the cost effectiveness of their investment in computer equipment so as to achieve the economies of scale. At present, the banks of our country have over 1000 branches in the whole of the Province, by a conservative estimation. Taiwan, with an area of 36,000 square kilometers, is arguably having the highest density of bank branches in the world. The large number of bank branches, while a big convenience to the consumers, has created problems. The fierce competition among banks has relaxed the strict scrutiny of applications for credit, resulting in a serious credit expansion, hampering effective upgrading of the quality of bank operation. So, it must be ask: Is this in line with economic efficiency? This thesis studied the 33 publicly listed banks in Taiwan, using the data from 3 January 1991 to 28 December 1999. The analysis has been made mainly from a government perspective with the assumed basic premise of “quality publicly listed banks taking-over banks of less good quality”, rather than from the point of view of quality publicly listed banks. The analysis in Chapter Four confirms that China Development, I.C.B.C., China Trust, Cosmos Bank, Taiwan, Taishin International Bank, Bank Sinopac and Chiao Tung Bank are quality publicly listed banks. Having considered the factors of “optimal weight of resources match” and “actual weight of assets”, we can say that: 1、China Development, China Trust, Taishin International Bank and Bank Sinopac may consider adopting the operational mode of “winning by being big”; 2、I.C.B.C., Cosmos Bank, Taiwan and Chiao Tung Bank may employ the operational mode of “small is beauty”. The following is “a list of the most appropriate publicly listed banks to be taken-over in the future” by China Development, China Trust, Taishin International Bank and Bank Sinopac: 1、 China Development: Cathay United Bank. 2、 China Trust: Grand Commercial Bank, E.Sun Bank. 3、 Taishin International Bank: Bank of Kaohsiung, Cathay United Bank. 4、 Bank Sinopac: Taichung Business Bank, E.Sun Bank, Chang Hwa Bank, The Medium Business Bank of Taitung. |
| 顯示於類別: | [國際事務與企業學系(亞太研究碩士班,公共政策研究碩士班,歐洲研究碩士班)] 博碩士論文-亞太研究碩士班
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