| Summary: | 碩士 === 淡江大學 === 財務金融學系碩士在職專班 === 98 === This study aims to discover the long-term investment performance and operation performance of eight previously state-owned banks who have successfully privatized during 1998 to 1999.
Study shows six out of eight previously state-owned banks after privatization delivered lower investment performance than which either of finance industry or in their peers of banking industry. This indicates great odd for investors to lose capital to buy stocks of previously state-owned banks after privatization.
In the long-term operation performance, there is significant improvement in capital adequacy, liquidity, sensitivity, and interest revenue-to-cost ratio aspects, while the aspects of asset quality, management (except for interest revenue-to-cost ratio), earnings, and future growth are failed to improve after privatization. Study concludes that privatization enhances capital structure and the ability to pay off debits, but helps little on banks’ asset quality, management, productivity, and future growth.
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