Summary: | 碩士 === 明新科技大學 === 企業管理研究所 === 94 === The previous papers about capital structure of commercial banks in Taiwan mainly focus on determinants of capital structure for commercial banks .Compared to other papers, this thesis adopts the determinants of previous papers, including ratio of asset growth、profitability、consume price index、legal reserves、tax、overdue loan、market returns and capital adequacy, and takes these determinants to establish the target capital structure of commercial bank by Tobit regression model. Simultaneously, takes the 34 firms years covering the 1997-2004 period of commercial bank’s capital structure that be listed in TSEC & OTC. for examples to analyze the capital structure of commercial bank whether moving towards target capital structure or not. Finally, the Tobit regression model also addition three kinds of dummy variable respectively, including (1)New banks vs.Old banks(2)Private equity vs. Government equity and (3)Bank merged, to analyze the affect of capital structure and situation of moving towards target capital structure。The empirical findings are as follows:
1.Ratio of market returns have positive correlation with the capital structure; ratio of asset growth、legal reserves、capital adequacy have negative correlation with the capital structure. Part of dummy variable, Private equity vs. Government equity have positive correlation; and New banks vs. Old banks have negative correlation.
2.The capital structure of commercial banks in Taiwan are not moving towards target capital structure .
3.No matter what kind of dummy variable, all that capital structure are not moving towards target capital structure。
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