臺灣博碩士論文加值系統

台灣本國金融市場成長空間有限，加上面臨金融服務市場開放之壓力，台灣金融機構紛紛藉由跨國業務來增益其收入、市占率並強化其競爭力。本文旨在利用跨國化指數（TNI）作為衡量台灣本土銀行國際化程度的指標，去除繁瑣的多元迴歸模型，來探討國際化程度對績效表現與風險的關係。
研究結果發現，台灣目前還處於國際化發展的初期階段，國外收入占整體收入的比例偏低。而台灣的國際化與績效的圖形比較接近J型曲線，在國際化初期會有一段績效惡化的時期，直到有學習效果，國際化帶來的報酬便能提升。學習效果亦影響風險報酬，在國際化初期，雖然經營區域增加，但風險亦同時增加，須等到國際業務的經驗與技術成熟後，風險報酬才開始下降，始產生區域多角化風險分散的特性。

The economic scale of Taiwan is limited and in a long term recession period. The domestic financial market is with limited growth as well. As a result, the financial institutions in Taiwan take use of the foreign business to gain their growth, market share, revenue and competitiveness. Instead of complicated model, this report aims to use Transnationality Index（TNI）to measure the internationalization of banks, and the relationships among TNI, performance and risk.
The key finding is that the foreign activities only account for a little part of overall and is in the early stages of international development. Taiwan’s graphic of internationalization and performance is a “J-curve”, which means that internationalization costs outweigh benefits until banks gain experience and learn to deal with them. A higher degree of internationalization is negatively related to risk-return, while a lower degree of internationalization is positively related to risk-return.

壹、研究目的 5
貳、文獻回顧 6
一、國際化程度的衡量指標 6
二、國際化程度與績效表現的關係 9
參、資料與研究方法 11
一、資料來源 11
二、研究方法 12
（一）國際化程度指標—TNI 12
（二）績效表現指標—ROA 12
（三）國際化程度與績效關係模型建立 13
（四）國際化和風險與報酬 14
肆、實證結果與分析 16
一、TNI的敘述統計 16
二、績效表現敘述統計 19
（一）國際化與國內外績效表現關係的假設 19
（二）國內外績效表現差異 19
三、國際化程度和績效表現關係 26
四、國際化和風險與報酬 29
伍、結論與建議 31
陸、參考文獻 33

林惠文，2001。國際化與多角化策略對財務績效的影響—本國銀行之比較分析，商管科技季刊，第二卷第四期，377-397。
邱美菁、許永明與陳寧馨，2011。台灣銀行業多角化經營對績效的影響，商略學報，第3卷第3期，155-173。
陳怡凱、林詣宸，2010。台灣銀行業是否受惠於多角化經營？以收入與放款為例，管理評論，第29卷第4期，39-67。
張燕玉，2006。國際化程度對銀行經營績效之影響—以台灣本地銀行為例，台北：國立政治大學行政管理碩士論文。
張麗娟、鍾雅雯，2010。探討台灣商業銀行國際化程度與多角化策略對經營績效之影響，中華管理評論國際學報，第13卷第3期，1-12。
Buch, Claudia M., John C. Driscoll, and Charlotte Østergaard, (2004). Cross-Border Diversification in Bank Asset Portfolios, Working Paper Ano 2004/11. Oslo: Norges Bank.
Finegold, D., Benson, G. S., & Hecht, D. (2007). Corporate Boards and Company Performance: review of research in light of recent reforms. Corporate Governance: An International Review, 15(5), 865-878.
Nilsson, J.E., P. Dicken, and J. Peck, (1996). The internationalization process: European firms in global competition. London, Paul Chapman Publishing Ltd.
Rugman, Alan M. (1976). Risk reduction by international diversification. Journal of International Business Studies, 7(2): 75–80. Berger, A.N., R. DeYoung, H.Genay and G.F.Udell, (2000), Globalization of financial institutions: evidence from cross-border banking performance. Washington: Federal Reserve Board.
Ruigrok, Winfried, and Hardy Wagner, (2003). Internationalization and firm performance: Meta-analytic review and future research directions, Presented at the External Seminar Series Tjalling C. Koopmans Institute, December 2 2003. St. Gallen: Research Institute for International Management, University of St. Gallen.
Schoenmaker, D., & Laecke, C. V., (2006). Current state of cross-border banking. London: London School of Economics and Political Science, Financial Markets Group.
Stiroh, K. J. and Rumble, A., (2006). The Dark Side of Diversification: The Case of US Financial Holding Companies, Journal of Banking & Finance, 30(8), 2131-2161.
Sullivan, David, (1994), Measuring the degree of internationalization of a firm. Journal of International Business Studies (2): 325–42.
United Nations Conference on Trade and Development, (2008). World Investment Report, 2008: Trends and Developments. Geneva: United Nations.
van Tulder, Rob, Douglas van den Berghe, and Allan Muller, (2001). The World’s Largest Firms and Internationalization. Rotterdam: Rotterdam School of Management/Erasmus University Rotterdam.