[[alternative]]Measurement of the Operational Efficiency on the Privatization of State-owned Banks

[[abstract]]公營銀行在我國經濟發展中，具有長期穩定貨幣市場的作用。近十年來面臨民營銀行強大的競爭，加上穩定金融市場已不是唯一重任，其經營效率備受關注。政府於是推動公營銀行轉型民營以解決效率不彰的問題，然而民營化是否能提升事業經營效率，符合民營化本意，值得研究探討。本研究以我國已完成民營化之9家銀行為樣本，運用資料包絡分析法(DEA)，以員工人數、營業支出和資產為投入項，投資和淨值為產岀項，進行各銀行不同年度效率值之比較。接著使用麥氏生產力指數分析已民營化之銀行在2000年至2005年間之經營效率，並利用Tobit回歸探討影響效率值之原因。研究結果顯示彰化銀行、第一銀行、華南銀行、交通銀行、高雄銀行及合作金庫，民營化後的總技術效率值明顯優於民營化前，而台灣企銀民營化後兩年內之總技術效率值較民營前好，民營化後第三年起效率值則呈現起伏變化。農民銀行在民營化前之總技術效率值優於民營化後，但前後的效率值差異並不大。台北銀行民營化後較民營化前有效率，唯獨在2006年與2007年總技術效率降低。整體而言，民營化對多數銀行具有提升經營效率的作用。另所有銀行之總技術無效率多來自於規模的無效率，且規模報酬多數呈現遞增的狀況。而平均生產力以台北銀行最優秀，高雄銀行的生產力則持續進步中。研究結果亦發現分行數和資產報酬率正向影響總技術效率值，存款與政府為最大股東則負向影響效率值。[[abstract]]Taiwan's state-owned banks have long been recognized as financial institutions that can stabilize national currency and boost local economy. During the past decades, fierce competition from the private-owned banks has forced the state-owned banks to look for ways that can improve operational efficiency. Privatization of state-owned banks becomes an inevitable move for Taiwan's government to enhance banks' competence and operational efficiency. However, the privatization policy has not been examined and benefit not guaranteed. In this study, nine previously state-owned banks that have been privatized in are selected and studied in order to explore the effects of privatization and factors that affect operational efficiency. Data envelopment analysis (DEA) is utilized to compute annual efficiency for each bank by incorporating inputs such as number of employees, sales expenditure and total assets and outputs that include amount of investment and net value. Furthermore, Malmquist productivity index and Tobit regression are employed to calculate management efficiency during 2000 to 2005 and examine the impact of affecting factors on the efficiency. The major findings of the study include: First, the majority of state-owned banks enjoy better technology efficiency after privatization. Second, Most of the technology inefficiency is incurred due to the inefficiency of scale. Moreover, Kaohsiung Bank has been the productivity of a continuous progress, the average productivity performance of the best banks is Taipei Bank. And finally, among the factors that affect banks’ efficiency, number of branches and return on asset ratio (ROA) has a positive relationship with total technology efficiency, while amount of deposits and government's ownership have a negative impact on the efficiency