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研究生:邱雅亭
研究生(外文):Chiu, Ya-Ting
論文名稱:各國公司治理、金融制度異質性對銀行競爭度與穩定性之探討
論文名稱(外文):Bank Competition and Stability: Cross-Country Heterogeneity of the Financial System and Corporate Governance
指導教授:盧智強盧智強引用關係
指導教授(外文):Lu, Chih-Chiang
學位類別:碩士
校院名稱:國立臺北商業技術學院
系所名稱:國際商務系碩士班
學門:商業及管理學門
學類:貿易學類
論文種類:學術論文
論文出版年:2014
畢業學年度:102
語文別:中文
論文頁數:41
中文關鍵詞:競爭度穩定性公司治理Lerner Index
外文關鍵詞:CompetitionStabilityCorporate GovernanceLerner Index
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過去許多學者單就銀行層面來探討銀行間市場競爭度對其穩定性的影響,會產生不同的理論結果,此差異性主要是來自其研究對象僅針對某一國家之銀行進行探討所造成,忽略國家金融制度、結構與國家公司治理執行程度等因素所產生的影響。因此本研究除了檢視銀行競爭度對穩定性之影響外,還納入國家的制度與金融發展、群聚與市場結構和公司治理指標,進一步檢視其對銀行競爭度與穩定性關係的影響。
本研究以2006年至2012年間全球86個國家,2612家銀行為研究對象,探討銀行競爭度對穩定性的影響並指出可解釋其變異之公司治理與金融制度變數。實證結果顯示出當銀行間競爭度愈高,銀行市場力愈低,將有損銀行的穩定性發展,因此本研究支持「競爭-脆弱假說」;而在考慮各國公司治理與金融發展制度之異質性後,就金融發展制度層面觀之,金融資訊分享程度、股票市場周轉率與金融系統穩定性愈高的國家,其銀行競爭度對穩定性之影響程度具有強化效果;而就國家公司治理層面來說,具有多重監督制度、董事責任程度愈高和股東申訴權力愈大的國家,其銀行競爭度對穩定性之影響程度亦呈現強化的效果。

According to existing literatures, there is no academic consensus on whether competition between banks leads to more or less banks’ stability. We presume the variation may come from sampling, which means the existing empirical researches on the impact of banks’ competition were mainly established on one specific country’s banking system by ignoring the factors of cross-country heterogeneity in banking system, financial structure and corporate governance. Therefore, this paper will not only examine the relationship between bank competition and bank stability but also include the impacts of country-level factors of institutional and financial development, herding effect and corporate governance.
In order to find the relationship between bank competition and bank stability and explore the corporate governance and financial system features that can explain this variation. In this study, we use data including 2612 banks from 86 countries during 2006-2012 and show that our empirical results support the view of “Competition-Fragility”. In addition, an increase in competition between banks will have negative impact on banks’ stability in countries with more effective credit information sharing system, better developed stock exchanges and higher stability of financial system. In terms of corporate governance, we also find that countries with multiple supervision system, higher request for responsibility of directors and better protection of shareholders will have the same results.

中文摘要 II
英文摘要 II
誌謝 III
目錄 IV
圖目錄 VI
表目錄 VI
第一章 緒論 1
1.1 研究背景與動機 1
1.2 研究目的 2
第二章 文獻回顧 3
2.1 銀行競爭性與穩定性之相關文獻 3
2.2 跨國異質性與銀行穩定性之相關文獻 4
2.2.1 制度與金融發展 4
2.2.2 公司治理 5
2.2.3 群聚和市場結構 6
第三章 研究方法 7
3.1 資料來源 7
3.2 研究架構與假說推論 7
3.2.1 研究架構 7
3.2.2 假說推論 8
3.3 變數衡量 12
3.3.1 銀行風險之衡量-Z-score 12
3.3.2 市場競爭性之衡量-Lerner Index 12
3.3.3 國家特性變數之衡量 14
3.4 實證模型 21
3.4.1 實證模型 21
3.4.2 統計方法 22
第四章 實證結果 26
4.1 樣本敘述性統計 26
4.1.1 敘述性統計 26
4.1.2 相關性分析 29
4.2 實證結果 30
4.2.1 銀行競爭度對穩定性之影響 30
4.2.2 國家特性變數之調節效果 33
第五章 結論 36
5.1 研究結論 36
5.2 研究建議 37
參考文獻 38

一、中文部分
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