Capital Structure and Bank Performance: Evidence from Taiwan''s Banking Industry
碩士 === 南華大學 === 財務金融學系財務管理碩士班 === 98 === The main objective of this research is to discuss the expected agency costs based on the company governance theory. In this research, twenty five (25) selected banks listed on the TSE (Taiwan Stock Exchange) were selected to evluate their performance. From...
Main Authors: | , |
---|---|
Other Authors: | |
Format: | Others |
Language: | zh-TW |
Published: |
2010
|
Online Access: | http://ndltd.ncl.edu.tw/handle/38674483641537061907 |
id |
ndltd-TW-098NHU05304013 |
---|---|
record_format |
oai_dc |
spelling |
ndltd-TW-098NHU053040132015-10-13T18:21:29Z http://ndltd.ncl.edu.tw/handle/38674483641537061907 Capital Structure and Bank Performance: Evidence from Taiwan''s Banking Industry 資本結構與銀行績效:以台灣上市櫃銀行之研究 Hao-jan Lai 賴浩然 碩士 南華大學 財務金融學系財務管理碩士班 98 The main objective of this research is to discuss the expected agency costs based on the company governance theory. In this research, twenty five (25) selected banks listed on the TSE (Taiwan Stock Exchange) were selected to evluate their performance. From the standpoint of agency costs, this research made a primary assumption on the following: the change of bank capital structure can decrease agency costs, and then enhance the banks'' performance.Different from traditional accounting- based indicators, the research used the performance indicators which are derived from Tobin''s Q theory in order to examine the banks'' future operations. The research also employed the reverse cause-effect relations to derive the simultaneous equations from bank performance to capital structure. The equations apply two-step least-squares (2SLS) method to analyze the indicators gathered from the banks. The research results showed that the relation between bank performance and debt ratio had a positive significance. From the perspective of variables on agency costs, there was a negative and significant relationship between bank scale and bank performance while the relationship between bank scale and debt ratio was significantly positive. Among other indicators, bank operation risk had a significantly positive impact on bank performance and debt ratio and market concentration rate had a significantly positive effect on bank performance. The bank supervisor holding bank share was significantly negatively related to the bank performance while bank share holders from market was significantly and positively related to bank performance. Song-zan ChiouWei Jui-chen Chang 邱魏頌正 張瑞真 2010 學位論文 ; thesis 62 zh-TW |
collection |
NDLTD |
language |
zh-TW |
format |
Others
|
sources |
NDLTD |
description |
碩士 === 南華大學 === 財務金融學系財務管理碩士班 === 98 === The main objective of this research is to discuss the expected agency costs based on the company governance theory. In this research, twenty five (25) selected banks listed on the TSE (Taiwan Stock Exchange) were selected to evluate their performance. From the standpoint of agency costs, this research made a primary assumption on the following: the change of bank capital structure can decrease agency costs, and then enhance the banks'' performance.Different from traditional accounting- based indicators, the research used the performance indicators which are derived from Tobin''s Q theory in order to examine the banks'' future operations. The research also employed the reverse cause-effect relations to derive the simultaneous equations from bank performance to capital structure. The equations apply two-step least-squares (2SLS) method to analyze the indicators gathered from the banks. The research results showed that the relation between bank performance and debt ratio had a positive significance. From the perspective of variables on agency costs, there was a negative and significant relationship between bank scale and bank performance while the relationship between bank scale and debt ratio was significantly positive. Among other indicators, bank operation risk had a significantly positive impact on bank performance and debt ratio and market concentration rate had a significantly positive effect on bank performance. The bank supervisor holding bank share was significantly negatively related to the bank performance while bank share holders from market was significantly and positively related to bank performance.
|
author2 |
Song-zan ChiouWei |
author_facet |
Song-zan ChiouWei Hao-jan Lai 賴浩然 |
author |
Hao-jan Lai 賴浩然 |
spellingShingle |
Hao-jan Lai 賴浩然 Capital Structure and Bank Performance: Evidence from Taiwan''s Banking Industry |
author_sort |
Hao-jan Lai |
title |
Capital Structure and Bank Performance: Evidence from Taiwan''s Banking Industry |
title_short |
Capital Structure and Bank Performance: Evidence from Taiwan''s Banking Industry |
title_full |
Capital Structure and Bank Performance: Evidence from Taiwan''s Banking Industry |
title_fullStr |
Capital Structure and Bank Performance: Evidence from Taiwan''s Banking Industry |
title_full_unstemmed |
Capital Structure and Bank Performance: Evidence from Taiwan''s Banking Industry |
title_sort |
capital structure and bank performance: evidence from taiwan''s banking industry |
publishDate |
2010 |
url |
http://ndltd.ncl.edu.tw/handle/38674483641537061907 |
work_keys_str_mv |
AT haojanlai capitalstructureandbankperformanceevidencefromtaiwanaposapossbankingindustry AT làihàorán capitalstructureandbankperformanceevidencefromtaiwanaposapossbankingindustry AT haojanlai zīběnjiégòuyǔyínxíngjīxiàoyǐtáiwānshàngshìguìyínxíngzhīyánjiū AT làihàorán zīběnjiégòuyǔyínxíngjīxiàoyǐtáiwānshàngshìguìyínxíngzhīyánjiū |
_version_ |
1718031189972877312 |