The influence upon lending bank's asset quality and bank director of borrowing firm’s characteristics

[[abstract]]中文摘要 資產品質為預測銀行倒閉的一個重要指標。如果與貸放銀行往來的借款公 司，其體質表現轉差，則可能會造成貸放銀行的資產品質惡化，進而使其演變成 問題銀行。惟文獻上似較少針對上述貸放銀行資產品質的風險變化與借款公司的 特性，做較為深入的探討。故本論文將由資產品質的觀點，將貸放銀行分成高風 險、中風險與低風險三種類型，使用多項logit 模式，來檢視貸放銀行成為上述三 種類型的可能性與借款公司特性之間的關係。 至於貸放銀行如發現借款公司情況有異，是否會再進一步指派銀行董事 進入公司董事會，則是本論文想瞭解的另一個議題。即探討何種性質的借款公 司，較會引發貸放銀行透過銀行董事的派駐，取得較為深入與密切的資訊，以嘗 試降低資訊不對稱的程度。而其出席董事會的理由究竟是有上述支持弱小公司的 意含？還是另有不同背景的考量？均為本論文亟欲想探討的課題。 本研究以民國84 年至93 年為研究期間，國內37 家上市上櫃銀行及532 家 上市公司為研究對象，經由實證分析，得到下列結論：第一，借款公司的流動比 率和淨值佔實收資本額比率對高風險的主要貸放銀行存在顯著的負向影響。第 二，借款公司的負債比率對其主要貸放銀行成為高風險的影響存在顯著的正向影 響。第三，借款公司的特性變數對銀行是否派駐董事，較多呈現不顯著的結果。[[abstract]]The asset quality is found to be a significant indicator of bank failure. If borrowing firm’s condition gets worse, the asset quality of lending bank may be deteriorating to make the bank become a problem bank. But the literature seldom discusses the above relationship between lending bank and borrowing firm. So this research tries to classify lending bank into low-risk, medium-risk, and high-risk categories with asset management factor, and uses multinomial logit model to study the change from borrowing firm’s characteristics upon the probability of three categories. If lending bank finds the condition of borrowing firm is changing, the appointment of bank director to the firm’s board is a further issue that this study wants to understand. Therefore, we attempt to observe what kind of borrowing firm will make the bank more likely appoint bank director to the firm through formal board representation. The motivation of a close relation may be it can improve information flow of both sides, and lower down the degree of information asymmetry. Or may be it has a new background and consideration different from the above propping up reason, just to be another pursuing topic for this study. The study samples 37 listing banks and 532 listing firm ,and period covers from 1995 to 2004. The main findings of this study can be summarized as following： 1. The current ratio and equity/capital stock have statistically negatively significant effect on the main lending bank of high risk. 2. The liability ratio has statistically positively significant effect on the main lending bank of high risk. 3. The borrowing firm’s characteristics has not statistically significant effect on main lending bank entering the board of directors of borrowing firm