台灣地區專業票券商規模經濟與範疇經濟之研究

A Study on Bill Finance Corporations of Scale and Scope of Economies in Taiwan

10.30087/APEMR.200709.0003

梁榮輝；廖振盛；張瑞玲

票券商 ； 規模經濟 ； 範疇經濟 ； Bill Finance Corporations ； Scale of Economies ； Scope of Economies

亞太經濟管理評論

11卷1期（2007 / 09 / 01）

33 - 52

繁體中文

本文研究之主要目的在於探討臺灣地區票券商經營效率、規模經濟與範疇經濟，利用Translog聯立方程式進行實證分析。研究顯示臺灣地區票券商並不存在規模經濟，因為票券商面臨銀行業者的競爭，相形之下，自然居於弱勢無法順利擴展票券業務。研究亦顯示舊票券商之優勢已隨時間逐漸消失，雖然目前舊票券商仍然具有競爭優勢。實證顯示金控組織下的票券商經營績效，並沒有顯著優於非金控組織下的票券商；另一方面，在順應金融百貨化的趨勢下，鼓勵票券商轉型為專業的貨幣經紀商。

The purpose of this study is to discuss the efficiency of bill finance corporations, scale and scope economies. We adopt the Translog function as an objective function. This study shows that bills finance corporations has diseconomies of scale. We consider the banking have sound and strong capital structure and fundable than bills finance corporations, so there have full of fund to expend bill occupational activities than bills finance corporations. Although the older bills finance corporations have higher profitability than that of newly established ones, but this advantageous position will disappear year by year. In conclusion, we find the financial holding companies on subsidiaries of bill finance corporations of efficiency not better than a single bill finance corporations, and we suggest the regulator should encourage the bill finance corporations to transfer into a professional money broker in the future.

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