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研究生：	林毓麒 Lin, Yu-Chi
論文名稱：	風險調整後之銀行績效表現與銀行規模、策略及市場約束力之關係 Risk-adjusted bank performance: bank size, strategy and market discipline
指導教授：	王澤世 Wang, Tse-Shih
學位類別：	碩士 Master
系所名稱：	管理學院 - 財務金融研究所 Graduate Institute of Finance
論文出版年：	2015
畢業學年度：	103
語文別：	英文
論文頁數：	50
中文關鍵詞：	銀行績效、銀行規模、市場風險、市場約束力
外文關鍵詞：	Bank performance, Bank size, Market risk, Market discipline
相關次數：	點閱：212 下載：4
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金融海嘯過後，全球對於銀行體系的穩固與規範愈發重視，研究銀行的績效表現也成為了未來防範金融危機的助力，本文以美國各大上市銀行作為研究對象，探討銀行的規模大小、策略應用以及市場約束力對於銀行績效表現的影響，同時也根據Bertay et al.(2013)的發現，考量美國銀行規模的變化對其策略和市場約束力的影響是否會造成結果上的差異進行研究；研究結果顯示銀行的絕對規模增長對於資產報酬率與股東權益報酬率有正向的影響，但銀行的系統性規模發展卻非股東所樂見的；至於在營運模式的選擇上，傳統的策略對於銀行較不具有風險，除此之外，本文也發現透過利息費用所產生之市場約束力對於銀行的會計表現也可能有好的助益，然而在股票市場中透過儲蓄增長所產生之市場約束力卻會被銀行之存款保險的融資給減弱進而增加其本身之個別風險，因此，美國銀行之管理階層對於銀行之規模、策略及市場約束力皆須相當重視。

In order to take precaution against financial crisis which is mainly leaded by poor banking operation, I demonstrate how bank performance is affected by size, strategy and market discipline. In addition, I further take the interactive effects between size and strategy as well as market discipline into account based on the study of Bertay et al. (2013) to realize whether the influences will exist any distinctions. The results show that growing up to systemically large size is not the interest of bank shareholders. In other words, gaining absolute banking size is more preferable than systemic term. Besides, I find that traditional strategies are prone to be less risky than unconventional business models. Furthermore, bank performance is not always vulnerable to strong market discipline. The empirical evidence shows that return on equity will increase even under strong market discipline. Apart from accounting measures, sound market discipline might decrease market risk, yet insured deposit financing will mitigate market discipline through deposit growth and enhance individual risk. Overall, it is fundamentally vital that banks should pay attention to these three main determinants simultaneously.

Contents
摘要............................................	i
Abstract........................................ii
誌謝............................................	iii
Contents........................................iv
Table contents...................................v
1.	Introduction.............................1	
2.	Literature Review........................7
3.	Data and Methodology.....................13
4.	The Empirical Evidence...................21
4.1	The effects of the three categories on bank performance......................................21
4.2	Bank performance with different size level interactions.....................................26
4.3	The crisis of 2007-2011..................37
5.	Conclusion and Future Study..............41
Appendix.........................................45
Reference........................................46
Table Contents
Table 1 – Summary statistics on bank and control variables........................................14
Table 2 – Correlations for main bank variables...17
Table 3 – Determinants of bank performance under absolute size banks.......................................19
Table 4 – Determinants of bank performance under systemic size banks.......................................20
Table 5 – Determinants of bank performance including alternative bank size variables..................26
Table 6 – Interactions between absolute size and bank performance, strategy and market discipline......28
Table 7 – Interactions between systemic size and bank performance, strategy and market discipline......29
Table 8 – Bank performance with absolute size interactions.....................................33
Table 9 – Bank performance with systemic size interactions.....................................34
Table 10 – Interactions between absolute size and bank performance, strategy and market discipline during the crisis...........................................39
Table 11 – Interactions between systemic size and bank performance, strategy and market discipline during the crisis...........................................40
Table 12 – Variable categorizations, definitions and data sources..........................................45


                                    

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2018-07-09公開

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