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題名：台灣銀行業經濟效率與規模經濟分析──參數法與無參數法之比較
作者：王美惠
作者(外文)：Mei-Hui Wang
校院名稱：淡江大學
系所名稱：管理科學學系
指導教授：黃台心
歐陽良裕
學位類別：博士
出版日期：2002
主題關鍵詞：隨機邊界法；資料包絡分析法；無分配法；Fourier 富伸縮函數；規模經濟；多元經濟；經濟效率；stochastic frontiers approach；data envelopment analysis；distribution free approac；Fourier flexible function；scale economies；scope economies；economic efficiency
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在效率的相關研究中，常用的方法為參數法與無參數DEA法，本研究以台灣地區本國銀行業70-87年資料研究經濟效率與規模經濟，比較不同方法在上述主題中的結果是否一致，全文共分三大部份。
第一部份，首先驗證參數法中常用的Translog 成本函數是否適當。以Gallant (1981,1982)所發展之Fourier flexible (FF) 與Translog 成本函數，比較銀行廠商的規模與多元經濟。以本國22家銀行70-86年的縱橫資料進行分析，發現FF 函數衡量的總規模經濟，小型銀行處於遞增規模報酬（IRS），大型銀行處於遞減規模報酬（DRS），然使用Translog成本函數，發現全部皆呈遞增規模報酬，二者明顯不同。多元經濟方面，未發現產品多樣化有助於節約成本。再使用擴張路徑規模經濟與次加性兩觀念，上述有關規模經與多元經濟的結論，在FF函數中仍然得到支持。但以Translog成本函數則發現多元經濟與擴張路徑次加性不相吻合，可見FF函數的穩定性優於Translog成本函數。
第二部份，利用無參數DEA法，以本國46家銀行70-87年資料，同時以橫斷面與縱橫面兩種資料，分析投入面與產出面技術效率與規模經濟。發現無論投入面或產出面模型在橫斷面資料中，公營銀行多處於DRS階段，民營銀行、新民營銀行與信合社銀行位於IRS階段者居多。然而，利用縱橫資料分析，上述結論在投入面模型仍受到支持，但在產出面模型，民營銀行與新民營銀行中DRS家數比IRS家數多，公營銀行與信合社銀行的結論仍與投入面相同。在無效率的來源方面，無效率主要成份為 ，即純粹技術無效率。各類銀行中，公營銀行無效率主要成份為規模無效率，其餘三類銀行之無效率成因主要是 。另本研究發現新民營銀行進入市場雖僅數年，但各類效率值均表現良好，顯示新銀行開放設立政策，似乎有助於銀行間的競爭與促進經濟效率；此結果以Tobit迴歸再進一步分析仍得到支持。
最後，以22家本國銀行71-86年，共16年縱橫資料，同時以參數與無參數法比較經濟效率與規模經濟。發現由20種模型所衡量的效率值分布頗為一致；將各種模型的效率估計值排序後從事相關性分析，參數法各模型間顯著相關，無參數法各模型間彼此亦顯著相關，但參數法與無參數法間則不相關；比較各種模型效率值之穩定性，發現這些方法計算得到的效率值，於樣本期間內皆相當穩定，隨時間經過未發生劇烈上下起伏波動，而參數法又相對較無參數法穩定。另將參數法與無參數法之效率值與傳統非前緣法之財務比率進行相關性分析，結果財務比率指標與參數法之效率值有顯著的正相關，但與無參數法之效率值間相關性較低。規模經濟方面，參數法衡量我國銀行業呈現規模報酬遞增現象，DEA法則以DRS的家數較多；民國80年以後實施的金融開放政策，發現提升了銀行的經濟效率。
The principal objective of this study is to provide new information on the effects of estimation method on frontier efficiency estimates by measuring efficiency for the same data set using a variety of parametric and non-parametric techniques. This paper is divided into three main parts.
First, the scale and scope economies for Taiwan''''s banking sector using panel data from 22 domestic banks for the period 1981-1997 is investigated quantitatively using both a Fourier flexible functional form, first proposed by Gallant (1981,1982), and a Translog function. This study’s results favor the use of the former, based on tests of regression coefficients and on estimates of various economy measures. The Fourier evidence shows that only smaller banks exhibit increasing returns to scale, while larger banks exhibit decreasing returns to scale. Conversely, the Translog indicates that all the sample groups continue to enjoy economies of scale. Banks in Taiwan exhibit scope diseconomies, which suggest that sample banks should continue efforts to diversify their financial products, which in turn could substantially reduce their average costs.
Second, the technical and scale efficiencies are estimated for Taiwan''''s banking industries through the non-parametric Data Envelopment Analysis using both panel and cross-sectional data taken from 1981 to 1998. Input-orientated and output-orientated models are studied and compared with each other. The cross-sectional results from the both orientations and panel data results from input orientation are similar, i.e., most of the government-owned banks exhibit decreasing returns to scale, while most of the private banks, newly opened private banks and credit co-operative banks are experiencing increasing returns to scale. The main source of the overall technical inefficiency comes from scale technical inefficiency for the government-owned banks, and from pure technical inefficiency for the other banks. The current paper finds that the entry of new private banks has intensified the degree of competition in Taiwan''''s financial industry and improved upon economic efficiency.
Last but not least, this paper employs a wide range of parametric and non-parametric cost frontiers’ efficiency estimation methods to estimate economic efficiency and economies of scale, using the same panel data of 22 Taiwanese commercial banks over the period 1982-1997. According to the empirical implementation, the two methodologies yield similar average efficiency estimates, yet they come to very dissimilar results pertaining to the efficiency rankings, the stability of measured efficiency over time, the consistency between frontier efficiency and conventional performance measures, and the estimates of scale economies. Thus, the choice of an estimation approach can result in very different conclusions and policy implications regarding cost efficiencies and cost economies. These findings are not meaningless to the extent that they are advisable in making policy decisions and evaluations that rely on multiple techniques and specifications.
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McFadden, D. (1978), “Estimation Techniques for the Elasticity of Substitution and Other Production Parameters”, in: Production Economics: A Dual Approach to Theory and Applications, Fuss and McFadden, eds, North-Holland.
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Mendes, V. and J. Rebelo (1999), “Productive Efficiency, Technological Change and Productivity in Portuguese Banking”, Applied Financial Economics, 9, 513-521.
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Mester, L.J. (1996), “A Study of Bank Efficiency Taking Into Account Risk-Preferences”, Journal of Banking and Finance, 20, 1025-1045.
Mester, L.J. (1997), “Measuring Efficiency at U.S. Banks: Accounting for Heterogeneity is Important”, European Journal of Operational Research, 98, 230-242.
Miller, S.M. and A.G. Noulas (1996), “The Technical Efficiency of Large Bank Production”, Journal of Banking and Finance , 20, 495-509.
Mitchell, K. and N.M. Onvural (1996), “Economics of Scale and Scope at Large Commercial Banks: Evidence From the Fourier Flexible Function Form”, Journal of Money, Credit and Banking, 28, 178 -199.
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二、中文部分
王美惠、陳亞為與劉聰衡 (1998), 「信用合作社與商業銀行財務結構與經營績效差異之比較分析」，淡江學報，第36期，211-227。
王親仁（1995），「金融機構規模經濟與範圍經濟之實證分析」，基層金融，第31期，237-266。
古永嘉與吳世勛 (1995)，「以DEA模式評估我國商業銀行之經營效率」，管理與系統，第2卷，第2期，145-165。
朱惠君 (1998)，「以隨機性成本邊界分析台灣地區本國銀行業的競爭力」，東吳大學經濟學研究所，碩士論文。
呂秋玉（1992），「多元化產初支金融機構規模經濟與範圍經濟──台灣地區信用合作社之個案研究」，合作經濟，第33期，24-41。
林丙輝與劉雪華（2000），「台灣商業銀行與信用合作社規模與範疇經濟之比較研究」，技術學刊，第15卷，第1期，15-24。
徐中琦與張鐵軍（1993），「台灣地區本國銀行規模經濟與範圍經濟之實證研究」，台灣銀行季刊，第44卷，第1期，32-58。
馬裕豐 (1994)，「銀行分支單位經營績效衡量模式之構建資料包絡分析模式（DEA）的應用（上）、（下）」，企銀季刊，第18卷，第1、2期。
馬嘉應、馬裕豐與王嬪嫈(1998)，「台灣銀行業經營績效之評估」，台灣經濟，第261期，57-74。
張靜貞與謝宗權 (1995)，「台灣地區農會信用部經營效率分析─資料包絡分析法之應用」，台灣經濟學會年會論文集，411-439。
莊武仁與桂勝嘉 (1989)，「台灣地區銀行體系規模經濟之研究」，基層金融，第18期，61-78。
陳碧 (1995)，「台灣地區本國銀行經營效率之分析」，東吳經濟商學學報，第16期，111-154。
黃台心 (1997) ，「台灣地區本國銀行成本效率之實證研究─隨機邊界模型之應用」，人文及社會科學集刊，中央研究院中山人文社會科學研究所，第9卷，第1期，85-123。new window
黃台心 (1998)，「以隨機成本邊界函數分析本國銀行的規模與多元經濟」，台灣大學經濟系，經濟論文叢刊，第26卷，第2期，209-241。new window
黃旭男 (1999)，「兩階段資料包絡分析法在績效評估上之應用：以台灣地區環保機構組織績效之評估為例」，管理與系統，第6卷，第1期，111-130。new window
黃旭男、林進財與張元哲 (1997)，「郵政總局分支機構經營效率及效率變動之評估」，交大管理學報，第17卷，第2期，125-144。new window
黃達業、歐進士與吳坤明（1997），「開放新銀行對我國銀行規模經濟影響之實證研究」，中山管理評論，第5卷，第3期，639-656。new window
葉桂珍與陳昱志(1995)，「銀行經營績效分析--資料包絡分析法（DEA）與財務比率法之比較」，企銀季刊，第19卷，第2期，30-39。
葉彩蓮與陳澤義(1998)，「台灣地區銀行的總效率與技術效率--資料包絡分析之應用」，台灣銀行季刊，第 49卷，第2期，163-183。
劉祥熹、莊慶達與林榮昌 (1997)，「台灣地區漁會信用部經營效率之分析─資料包絡分析法之應用」，基層金融，第35期，107-134。
劉祥熹與林秀峰（2000），「台灣地區本國商業銀行與信用合作社競爭與效率比較之研究」，管理與系統，第7卷，第4期，553-588。
鄭秀玲與周群新（1998），「調整風險後之銀行效率分析：台灣銀行業的實證研究」，經濟論文叢刊，第26卷，第3期，337-366。
鄭秀玲、劉錦添與陳欽奇(1997)，「台灣中小企業銀行的效率分析 (1986-1994年)」，中央研究院經濟研究所，經濟論文，第25卷，第1期，69-95。new window
鄭秀玲與劉育碩 (2000)，「銀行規模、多角化程度與經營效率分析：資料包絡法之應用」，人文及社會科學集刊，中央研究院中山人文社會科學研究所，第12卷，第1期，103-148。
謝德宗（1992），「銀行產業組織與生產成本文獻綜覽（上）」，台北市銀月刊，第23卷，第2期，2-22。
 
 
 
 
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