The Comparisons of Acquisition or Equity Participation of Local Banks by Foreign Investors on Operational Performance in Taiwan

[[abstract]]隨著我國加入世界貿易組織，亦須逐步開放市場朝向自由化及國際化，外資進入台灣金融業腳步近年日亦加快，近十餘年來我國金融市場蓬勃發展，許多外資除著眼於台灣本土市場外，亦多聚焦於大中華區市場，希藉由進入台灣市場後將業務拓展至中國大陸，故台灣金融市場成為外資積極參與之重要據點。本研究即針對外資進入本國市場後，尤其以併購及參股進入者，其併購或參股前後之經營績效為研究方向及目的，並以研究對象之財務報表為分析依據，分析併購或參股前後經營績效之差異。 經實證分析發現，本國銀行由外資併購或參股後，各項經營績效指標平均數多明顯轉佳，經分析為外資進入後，除積極改善財務結構外，亦引進多項利基業務改善獲利能力，進而提升經營效能。[[abstract]]In recent years ,our Taiwan government participate to the World Trade Organization, also gradually opening up the market towards liberalization and internationalization, foreign investment access to Taiwan's financial market and they has accelerated the pace. The financial market of Taiwan is in the booming development in the last several decades, because of that, foreign investors not only focus on the Taiwanese market, but also focus on Greater China market, they hope to enter the Taiwan market will be through the business development to China, Taiwan's financial market has become an important base of operations for foreign capital. This study focuses on the operating performance of foreign investors in domestic market, particularly in those banks had been merged or equity participation, depending on analyzing financial statements of the merger / equity participation banks, and tell the differences of operating performance of those banks after the merger or equity participation. The empirical analysis shows that domestic banks by foreign acquisitions or equity participation, the average of various indicators of operating performance become significantly better than before, it was because the foreign investors except to actively improve the financial structure, they also introduced various businesses to improve profitability and thus improve business performance