The Study of Financial Holding Company Operating and Merger Efficiency

• Main Authors: Yu-ting Hsieh, 謝宇婷
• Other Authors: Chang-hung Tsao
• Format: Others
• Language: zh-TW
• Published: 2009
• Online Access: http://ndltd.ncl.edu.tw/handle/82890599560345575798

碩士 === 立德大學 === 國際企業管理研究所 === 97 === This research examines the Financial Holding Company (FHC) operating and M&A efficiency, taking 14 domestic FHC for study, using the non-parameter of data envelopment analysis (DEA) to evaluate the X-efficiency. Results indicate that when FHC established, the operating efficiency is better than before, according to return indicator (Interest Revenue / Total Asset) finding public FHC better than private. Although the public and private FHC has no difference between cost and return efficiency, but FHC has higher percentage of foreign institutional investors that are considered more cost and return efficiency. Additional empirical study, when FHC take M&A action, only Hua Nan FHC has operating efficiency. This conclusion is not same with extant related articles; Our findings show that FHC M&A is not suitable strategy improved its profit.