台灣地區金融控股公司經營績效之實證研究

本研究採用經濟附加價值法進行實證分析，以2000年第二季至2005年第二季為研究期間，驗證金控公司於「成立後」與「成立前後」的績效，並與對照組比較，以評估我國金控公司經營績效的表現。研究結果發現：首先，金控公司成立後的績效較成立前佳；然而，金控公司成立後的績效明顯地低於非金控公司的績效。因此金控公司經營模式與交叉銷售所產生之正面效益，將為監督、管理及整合等龐大負面成本所抵銷，因而使得正面效益無法顯現，經營績效不佳
關鍵字：金融控股公司、合併、經濟附加價值
A Study on the Performance of Financial Holding Companies
in Taiwan: By Economic Value Added Methods
Abstract
The purpose of this study is to examine if financial holding companies’ establishment would improve performance by using Economic Value Added Method. The result shows that the performance of these financial holding companies is better than before merge. However, the performance of these financial holding companies is not better than the non-financial holding companies. Therefore, the effect on the superiority of management and cross-selling in financial holding companies will be offset by a large amount of cost of management, supervision, and integration. As a result, the positive effect would not be showed up and the performance of management would not live up to their expectation.
Keywords: Financial Holding Company; Merger; Economic Value Added