亞洲新興市場國家外資銀行與本國銀行的績效比較--利用配對方法調整選擇偏誤_

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題名：	亞洲新興市場國家外資銀行與本國銀行的績效比較--利用配對方法調整選擇偏誤
書刊名：	經濟與管理論叢
作者：	張元／沈中華／張佩芬
作者(外文)：	Chang, Yuan／Shen, Chung-hua／Chang, Pei-fang
出版日期：	2012
卷期：	8:1
頁次：	頁59-100
主題關鍵詞：	外資銀行；配對理論；傾向分數配對；選擇偏誤；CAMEL；Foreign bank；Matching theory；Propensity score matching；Selection bias
原始連結：	連回原系統網址
相關次數：	被引用次數:期刊(4) 博士論文(0) 專書(0) 專書論文(0) 排除自我引用:4 共同引用:30 點閱:64

Based on the banking data of six Asian emerging market countries from 2007 to 2008, this paper analyzes the differences in financial performance between foreign banks and domestic banks. By applying Rubin's (1973, 1977) matching theory and the propensity score matching of Rosenbaum and Rubin (1983, 1985a, b), four matching methods, namely, the Nearest, Caliper, Mahala and Mahala Caliper, are used to match the financial characteristics of the two groups of banks in order to correct for sample selection bias. The empirical results show that, before sample matching, foreign banks outperform domestic banks in terms of their capital adequacy and underperform them on asset quality. They also do not differ from each other in regard to management ability, earning ability and liquidity risks. After sample matching, most of the evidence suggests that foreign banks exhibit few significant differences from domestic banks based on five CAMEL indicators. The principal outcomes are robust to changes in the definition of foreign banks and to using Heckman's (1979) two-stage estimation to correct for sample selection bias.

以文找文

期刊論文
1.	李榮謙、林曉伶(20090600)。外資銀行擴大在國內版圖可能帶來的影響。國際金融參考資料，57，95-105。延伸查詢
2.	連德宏(20080300)。外資銀行入股中資銀行之探討。經濟研究，8，385-408。延伸查詢
3.	Clarke, G.、Cull, R.、Peria, M. Martinez、Sanchez, S.(2005)。Bank Lending to Small Businesses in Latin America: Does Bank Origin Matter。Journal of Money, Credit and Banking，37，83-118。
4.	Gelos, Gaston、Roldós, Jorge E.(2004)。Consolidation and Market Structure in Emerging Market Banking Systems。Emerging Markets Review，5(1)，39-59。
5.	Goldberg, Lawrence G.、Saunders, A.(1981)。The Determinants of Foreign Banking Activity in the United States。Journal of Banking and Finance，5(1)，17-32。
6.	Jeona, Y.、Miller, S. M.、Natke, P. A.(200602)。Do Foreign Bank Operations Provide a Stabilizing Influence in Korea?。The Quarterly Review of Economics and Finance，46(1)，82-109。
7.	Martinez Peria, M. S.、Mody, Ashoka(2004)。How Foreign Participation and Market Concentration Impact Bank Spreads: Evidence from Latin America。Journal of Money, Credit, and Bankings，36，511-537。
8.	Peek, Joe、Rosengren, Eric S.(1997)。The International Transmission of Financial Shocks: The Case of Japan。American Economic Review，87(4)，495-505。
9.	Rubin, D.(1977)。Assignment to a Treatment Group on the Basis of a Covariate。Journal of Educational Statistics，2(1)，1-26。
10.	Walter, I.、Gray, H.(1983)。Protectionism and International Banking: Sectoral Efficiency, Competitive Structure and National Policy。Journal of Banking and Finance，7，597-607。
11.	Molyneux, P.、Thornton, J.(1992)。Determinants of European bank profitability: A note。Journal of Banking and Finance，16(6)，1173-1178。
12.	Claessens, S.、Demirgüç-Kunt, A.、Huizinga, H.(2001)。How does foreign entry affect the domestic banking markets?。Journal of Banking and Finance，25(5)，891-911。
13.	Noulas, A. G.(1997)。Productivity Growth in the Hellenic Banking Industry: State versus Private Banks。Applied Financial Economics，7，223-228。
14.	沈中華(20020600)。金控公司的銀行與獨立銀行CAMEL比較：1997-1998。臺灣金融財務季刊，3(2)，73-94。延伸查詢
15.	Shen, C. H.、Lu, C. H.、Wu, M. W.(2009)。Impact of Foreign Bank Entry on the Performance of Chinese Banks。China & World Economy，17(3)，102-121。
16.	Rosenbaum, Paul R.、Rubin, Donald B.(1985)。Constructing a Control Group Using Multivariate Matched Sampling Methods That Incorporate the Propensity Score。American Statistician，39(1)，33-38。
17.	Peek, Joe、Rosengren, Eric S.(2000)。Collateral Damage: Effects of the Japanese Bank Crisis on Real Activity in the United States。The American Economic Review，90，30-45。
18.	Heckman, James J.(1979)。Sample Selection Bias as a Specification Error。Econometrica，47(1)，153-161。
19.	Rosenbaum, Paul R.、Rubin, Donald B.。The Bias Due to Incomplete Matching。Biometrics，41(1)，103-116。
20.	Rubin, Donald B.(1973)。Matching to Remove Bias in Observational Studies。Biometrics，29(1)，159-183。
21.	Choi, S.、Hasan, I.。Ownership, Governance, and Bank Performance: Korean Experience。Financial Markets, Institutions & Instruments，14(4)，215-242。
22.	Rosenbaum, P. R.、Rubin, D.(1983)。The central role of the propensity score in observational studies for causal effects。Biometrika，70(1)，41-55。
23.	Dages, B.、Goldberg, L.、Kinney, D.(2000)。Foreign and domestic bank participation in emerging markets: Lessons from Mexico and Argentina。Economic Policy Review, Federal Reserve Bank of New York，6(3)，17-36。
24.	Yamori, N.(1998)。A Note on the Location Choice of Multinational Banks: The Case of Japanese Financial Institutions。Journal of Banking and Finance，22(1)，109-120。
25.	Dehejia, R. H.、Wahba, S.(2002)。Propensity score matching methods for nonexperimental causal studies。Review of Economics and Statistics，84(1)，151-161。
26.	Rubin, D. B.、Thomas, N.(1992)。Characterizing the effect of matching using linear propensity score methods with normal distributions。Biometrika，79(4)，797-809。
27.	Shen, C. H.、Chang, Y.(2009)。Ambition versus conscience, does corporate social responsibility pay off ? The application of matching methods。Journal of Business Ethics，88(1)，133-153。

會議論文
1.	Demirgüc-Kunt, A.、Levine, R.、Min, H.(1998)。Opening to Foreign Banks: Issues of Stability, Efficiency and Growth。
2.	Levy Yeyati, E.、Micco, A.(2003)。Banking Competition in Latin America。
3.	Stiglitz, J. E.(1993)。The Role of the State in Financial Markets。沒有紀錄。19-52。

研究報告
1.	Bayraktar, N.、Wang, Y.(2004)。Foreign Bank Entry, Performance of Domestic Banks, and Sequence of Financial Liberalization。
2.	Cardenas, F.、Graf, J. P.、O'Dogherty, P.(2003)。Foreign Banks Entry in Emerging Market Economies: A Host Country Perspective。CGFS Working Group on FDI in the financial sector。
3.	Committee on the Global Financial System (CGFS)(200403)。Foreign Direct Investment in the Financial Sector of Emerging Market Economies。Basel：Committee on the Global Financial System (CGFS)。
4.	Chua, H. B.(2003)。FDI in the Financial Sector: The Experience of ASEAN Countries over the Last Decade。
5.	De Hass, R.、Lelyveld, I. V.(2003)。Foreign Banks and Credit Stability in Central and Eastern Europe: Friends or Foes?。De Nederlandsche Bank。
6.	Demirgüc-Kunt, A.、Huizinga, H.(2000)。Financial Structure and Bank Profitability。
7.	Goldberg, L.(2001)。When Is U.S. Bank Lending to Emerging Markets Volatile?。Federal Reserve Bank of New York。
8.	Goldberg, L.(2003)。Financial FDI and Host Countries: New and Old Lessons。Federal Reserve Bank of New York。
9.	Hawkins, J.、Dubravko, M.(2001)。The Banking Industry in the Emerging Market Economies: Competition, Consolidation and Systemic Stability--An Overview。
10.	Hermes, N.、Lensink, R.(2002)。The Impact of Foreign Bank Entry on Domestic Banking Markets: A Note。
11.	Kim, H. E.、Lee, B.-Y.(2003)。The Effects of Foreign Bank Entry on the Performance of Private Domestic Banks in Korea。CGFS。
12.	Levine, R.(1999)。Foreign Bank Entry and Capital Control Liberalization: Effects on Growth and Stability。mimeo：University of Minnesota。
13.	Micco, A.、Panizza, U.、Yanez, M.(2004)。Bank Ownership and Performance。
14.	Nolle, D. E.、Seth, R.(1996)。Do Banks Follow Their Customers Abroad。
15.	Montgomery, Heather,(2003)。The Role of Foreign Banks in Post-crisis Asia: The Importance of the Method of Entry。Tokyo：Asian Development Bank Institute。
16.	Hofler, R.、Elston, J.、Lee, J.(2004)。Dividend policy and institutional ownership: empirical evidence using a propensity score matching estimator。Max Planck Institute of Economics。

圖書
1.	Caprio, G.、Honohan, P.(2000)。Finance for Growth: Policy Choices in a Volatile World。Washington, D.C.：The World Bank。

單篇論文
1.	Denizer, C.(1999)。Foreign Entry in Turkey's Banking Sector, 1980-1997，IFC/World Bank。
2.	McFadden, C.(1994)。Foreign Banks in Australia，The World Bank。

圖書論文
1.	Barth, J. R.、Caprio, G. Jr.、Levine, R.(2001)。The Regulation and Supervision of Banks around the World: A New Database。Integrating Emerging Market Countries into the Global Financial System, Brookings--Wharton Papers on Financial Services。Brookings Institute Press。
2.	Gelb, A.、Sagari, S.(1990)。Banking。The Uruguay Round: Services in the World Economy。Washington, D.C.：World Bank and UN Center on Transnational Corporations。
3.	Levine, R.(1996)。Foreign Banks, Financial Development and Economic Growth。International Financial Markets: Harmonization versus Competition。Washington, D.C.：American Enterprise Institute Press (AEI)。
4.	Mathieson, D. J.、Roldos, J.(2001)。The Role of Foreign Banks in Emerging Markets。Open Doors: Foreign Participation in Financial Systems in Developing Countries。Washington, D.C.：Brookings Institution Press。
5.	Terrell, H.(1986)。The Role of Foreign Banks in Domestic Banking Markets。Financial Policy and Reform in Pacific-Rim Countries。Lexington：Lexington Books。
6.	Unite, A.、Sullivan, M.(2000)。Reform and the Corporate Environment in the Philippines。Reform and Recovery in East Asia。London：Routledge。

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