臺灣銀行業整併之探討－模糊德菲法之應用

Investigation of Merging and Acquisition of Taiwanese Banks-Application of the Fuzzy Delphi Method

10.6985/TBFQ.201012.0031

梁連文(Lien-Wen Liang)；李桐豪(Thomas Tung-Hao Lee)；黃博怡(Bor-Yi Huang)

銀行整併 ； 模糊德菲法 ； 合併因子 ； Bank Merger ； Fuzzy Delphi Method ； Merger Factor

台灣金融財務季刊

11卷4期（2010 / 12 / 01）

31 - 65

繁體中文

併購乃是企業發展與成長之重要策略工具之一，併購不僅可以擴大規模、降低成本，增加市場佔有率；併購亦可以增加產品的多元化，提升其獲利能力。基於合併可以發揮綜效以及臺灣當前銀行家數過多、金融環境日漸惡化等原因，政府乃積極鼓勵銀行進行合併，以提高銀行之競爭能力。過去國內探討有關銀行整併的文獻多著重於事件分析或實證探討，缺乏實務觀點之考量。因此，本文採用產官學專家問卷調查，利用模糊德菲法(Fuzzy Delphi Method)進行分析，深入探討銀行合併考量因素與政策誘因、成本面與利潤面之重要因子、代理人與公司治理相關問題、以及銀行合併效益之評估等議題，並提出具體的政策建議。

Merging and acquisition (M&A) is one of the most important strategies for the development and growth of enterprises. Not only M&A can increase scale, lower cost, expand market shares, but also increase the products diversity and profitability. The government encourages M&A to increase the competitiveness of banks due to a few reasons-benefits of M&A, there are too many banks, and worsening of financial environment. This paper studies Taiwanese bank's M&A from a professional practice point of view in lieu of the traditional event analysis or econometric study. We design questionnaires designated to 21 experts from banking enterprises, government and academia, and use Fuzzy Delphi Method to analyze cost and profit factors considered in bank's M&A. We study the relationship between agency and corporate governance, and evaluate the effectiveness and benefits of bank's M&A. We finally provide suggestions for bank's M&A policy based upon our empirical findings.

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