| Summary: | 碩士 === 銘傳大學 === 財務金融學系碩士在職專班 === 93 === The government has actively liberalized and internationalized banking industry for decades. Innovative financial goods, a flourishing development of communicative technology, and synthetic managing various business in banking, securities, insurance, and bills finance industry since developed countries lifted up or liberated all kinds of
Financial controls. In 1999, “Gramm-Leach-Bliley Act” was legislated in the U.S., and the limits set to banking industry’s operating other business were eliminated formally. Adapting to the whole environmental changes, the Taiwan authority practiced “Law of Financial Holding Company” officially on January 1, 2001, intending to strengthen domestic financial systems, to assist the financial industry developing into a large scale, and finally to lift up the global competition of Taiwan financial industry.
From the end of 2001, 14 financial holding companies were permitted to set up by Bureau of Monetary Affair, which announced a new era of size-enlarging of Taiwanese financial industry. After entering WTO, it goes without saying Taiwan is confronting a harsh competition; therefore financial holding companies have to draw up various kinds of competitive strategies to adapt the surroundings simultaneously.
This study aims to measure operational efficiency based on a sample of 14 Taiwan financial holding companies from 1998 to 2004 by using Gray Relational Analysis and Profit Function Model. The results for efficiency value are as follows:
(1) by financial industry : after the bank industry joins the financial holding companies, the efficiency value increase, which means the performance lift up after bank merger; the insurance industry isn’t have any obvious changes as well as bills finance industry; but the security industry make its progress. (2) by financial holding company: the efficiency value have not obvious changes and three of fourteen financial holding companies( Fubon, Cathay and Shin Kong Financial Holding Company) are below the whole average value. (3) by subsidiary: bank with bank and insurance with insurance achieve economies of scale after the merger; the merger of bank and security, bank and insurance, insurance and security, bank and insurance and security, the efficiency value increase and with merge synergy.
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