業務自由化對個別銀行利益與整體銀行系統穩定性之衝突

The Conflict of Interest in the Policy of Activity Liberalization: Between Individual Banks and the Banking System

劉清標(Chin-Piao Liu)

業務多角化 ； 系統風險 ； 金融風暴 ； 風險分攤 ； Activity Diversification ； Systematic Risk ； Financial Crisis ； Risk Sharing

兩岸金融季刊

2卷2期（2014 / 06 / 01）

69 - 103

繁體中文

本研究實證業務多角化有利於個體銀行而不利於整體銀行系統之穩定性假說，資料來源為台灣之上市銀行與金控公司。研究結果顯示業務多角化顯著增加個體銀行之資產報酬率，而在降低銀行破產風險上則不顯著；另外，在整體銀行系統穩定性的影響方面，雖然業務多角化使銀行產業內之風險連結程度顯著提高，然而，銀行整體產業之破產風險則顯著降低，並且銀行資產組合之同質性亦未顯著提升而增加整體產業之系統風險，因此，這項衝突性假說基本上在台灣並未獲得充分證據的支持。

This study empirically examines the hypothesis that activity diversification benefits individual banks but harms the stability of banking system using Taiwan bank data. The results indicate that activity diversification significantly increases the ROA of banks while the reduced bankruptcy risk is insignificant. As for the banking system stability, although the degree of risk-sharing of banking system increases with the degree of activity diversification, the crash risk of banking system significantly decreases. Moreover, we do not find significant increase in the homogeneity of bank portfolios, which raises the systematic risk of the whole system. Hence, there is no sufficient evidence to support the hypothesis.

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