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研究生:謝宇婷
研究生(外文):Yu-ting Hsieh
論文名稱:金融控股公司經營及購併效率之研究
論文名稱(外文):The Study of Financial Holding Company Operating and Merger Efficiency
指導教授:曹常鴻曹常鴻引用關係
指導教授(外文):Chang-hung Tsao
學位類別:碩士
校院名稱:立德大學
系所名稱:國際企業管理研究所
學門:商業及管理學門
學類:企業管理學類
論文種類:學術論文
論文出版年:2009
畢業學年度:97
語文別:中文
論文頁數:87
中文關鍵詞:經營效率購併資料包絡分析法金融控股公司
外文關鍵詞:Operating EfficiencyDEAM&ampampAFHC
相關次數:
  • 被引用被引用:1
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  • 收藏至我的研究室書目清單書目收藏:1
本研究探討金融控股公司經營及購併效率之研究,以國內十四家金融控股公司為研究對象,透過無參數估計法-資料包絡分析法進行研究。實證結果發現金融控股公司在成立後,經營效率值較成立前為佳,在報酬面,可看出公營金控比民營金控為佳。雖然公營與民營之金控公司在成本效率與報酬效率沒有顯著影響,可是當外資持股比率越高時,金控公司的成本效率與報酬效率越佳,且與過去學者的研究相呼應。另外,本研究亦證實金融控股公司進行購併行為後,經營效率僅華南金較佳,其餘則否,此與過去學者的研究大相逕庭,可見並非所有購併行為能讓公司轉虧為盈,故在購併前應審慎評估,以免事倍半。
This research examines the Financial Holding Company (FHC) operating and M&A efficiency, taking 14 domestic FHC for study, using the non-parameter of data envelopment analysis (DEA) to evaluate the X-efficiency. Results indicate that when FHC established, the operating efficiency is better than before, according to return indicator (Interest Revenue / Total Asset) finding public FHC better than private. Although the public and private FHC has no difference between cost and return efficiency, but FHC has higher percentage of foreign institutional investors that are considered more cost and return efficiency. Additional empirical study, when FHC take M&A action, only Hua Nan FHC has operating efficiency. This conclusion is not same with extant related articles; Our findings show that FHC M&A is not suitable strategy improved its profit.
中文摘要 .................................................................................................... i

英文摘要 .................................................................................................... ii

誌謝 ........................................................................................................... iii

目錄 ........................................................................................................... vi

表目錄 ...................................................................................................... vii

圖目錄 ...................................................................................................... viii

第壹章 緒論……………………………………………………………1
第一節 研究背景與動機………………………………………………1
第二節 研究目的………………………………………………………5
第三節 研究架構………………………………………………………5
第貳章 文獻探討………………………………………………………6
第一節 金融控股公司…………………………………………………6
第二節 經營效率………………………………………………………12
第三節 購併……………………………………………………………17
第四節 資料包絡分析法………………………………………………20
第五節 投入項及產出項………………………………………………25
第參章 研究方法………………………………………………………30
第一節 樣本期間、樣本選取及資料來源……………………………30
第二節 變數定義與衡量………………………………………………33
第三節 研究假設………………………………………………………35
第四節 實證方法………………………………………………………36
第肆章 實證結果………………………………………………………39
第一節 國內金融控股公司在成立前三年及成立後三年之橫斷面
效率分析………………………………………………………………39
第二節 國內金融控股公司中公營金控及民營金控間的差異………42
第三節 公民營型態、外資持股比率高低對國內金融控股公司進
行橫斷面效率分析,並檢視各投入項對成本效率及報酬效率影響……………………………………………………………………44
第四節 國內金融控股公司在購併前六季及購併後六季之橫斷面效率分析……………………………………………………………………49
第伍章 結論與建議…………………………………………………64
第一節 研究結論………………………………………………………64
第二節 研究建議………………………………………………………66
第三節 研究限制………………………………………………………67
參考文獻 …………………………………………………………………68
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