A Study on the Operating Performance of Subsidiary Banks of Financial Holding Companies and Independent Banks

[[abstract]]本研究旨在探討金控旗下子銀行與非金控銀行經營績效之比較，以2007年第3季至2012年第4季為測試年度，以各季之財務比率資料分析為主，研究方法採用兩樣本平均數差異t檢定與Mann-Whitney檢定。實證結果顯示，在空頭期間，台灣金控旗下子銀行之經營績效在獲利能力與成長率方面表現顯著優於非金控銀行。但在多頭與盤整期間，台灣整體金控旗下子銀行之經營績效表現除逾放比率外，並未顯著優於非金控銀行。而在整體觀察期間，金控旗下子銀行僅在獲利能力方面表現顯著優於非金控銀行。因此推論可能係金控公司之多角化經營，資本資產規模較為龐大，加上政府相挺等因素，使金控旗下子銀行在空頭時期較能承受經濟不景氣的衝擊，而有顯著較佳獲利能力。[[abstract]]This thesis uses two-sample t test and nonparametric Mann-Whitney test to compare the operating performance between subsidiary banks of financial holding companies and independent banks The historical financial ratio data are utilized in 3rd quarter of 2007 to 4th quarter of 2012 The empirical results show that profitability and growth rates of subsidiary banks of financial holding companies are significantly better than those of independent banks in bear-market period Next subsidiary banks of financial holding companies have lower non-performing loans ratio than independent banks in bull-market and consolidation periods Meanwhile in the whole sample period profitability of subsidiary banks of financial holding companies is significantly better than that of independent banks Owing to the diversification and large asset size of financial holding company and government support subsidiary banks of financial holding companies are more likely to withstand the impact of the economic downtur