收益多角化對銀行是光明面還是黑暗面？全球實證

Is the Diversification of Bank Income the Bright Side or Dark Side? A Global Perspective

10.6656/MR.2014.33.3.CHI.23

林昆立(Kun-Li Lin)；黃玉麗(Yu-Li Huang)

銀行 ； 風險 ； 收益多角化 ； Banking ； Diversification ； Risk

管理評論

33卷3期（2014 / 07 / 01）

23 - 51+117-120

繁體中文

本文以2001年至2008年全球商業銀行為研究對象，探討銀行收益多角化與風險的關係。我們利用新的銀行財務數據資料，並進一步依據不同國家所得、地區與國家治理特性，以檢視銀行收益多角化對於銀行風險是符合「多角化光明面假說」或者「多角化黑暗面假說」。實證結果顯示：第一、在全體樣本或高所得、歐美地區國家的銀行，其收益多角化策略可以有效降低銀行風險，符合「多角化光明面假說」。相反地，中低所得國家收益多角化卻提高銀行破產風險及倒閉危機，符合「多角化黑暗面假說」。第二，若非利息收入比例超過最適值時，則不管所得或地區因素，隨著非利息收入比率增加都會增加獲利的不確定性或倒閉機率。第三，在探討國家特定變數，發現高所得國家可改善銀行收益多角化與風險的關係，但中低所得國家反而是惡化兩者間的關係。而非洲及中東地區亦不利於銀行收益多角化對風險的關係。最後，在國家治理方面，一個國家的法規制度及官僚體系環境愈好，將有助於改善銀行收益多角化與風險的關係。但債權人權利愈健全或銀行跨業經營限制程度愈高，反而惡化收益多角化與銀行風險的關係。

The paper examines the effects of bank diversification on risk using a global sample from 95 countries. We find evidence that diversification will mitigate the banking risk in high-income countries, European or America region, whereas increase the likelihood of bank failures in median-low-income countries. Second, when banks have relatively excessive non-interest income, they have fewer potential diversification gains. Finally, we also find that a better country's law and bureaucracy will help improve the relationship between bank diversification and risk, but stronger creditor rights' protection and more regulatory restrictions on bank activities will worsen them.

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