| Summary: | 碩士 === 輔仁大學 === 管理學研究所 === 92 === In the rise of the securitization in Taiwan, as researchers of business strategy, we mostly concern how do the managers of banking treat the securitization, how do banks create value by securitization, and what is the relation between the securitization and the positioning of banks. The answers had been touched in the studying of loan sales. This studying describe that banks having geographic competitive advantages and target market competitive advantages will sell their loans in the loan sales markets. By selling loans, these banks can reach in specialization, creating special position. However, researchers in this field did not go further. By bringing in the resource based theory and the analysis of value chain, we will have the chance to know more about the answers of above questions.
In the case study of Taiwan banks, we found the securitization can be used strategically. Our case bank encountered an imbalance of the cumulation of inner resources. In this case, the bank’s financial resource, capital, has limited capacity of bearing risk. This imbalance limits the further advances of some competitive resources. Using the securitization as the tool to shed the bottleneck, the case bank can focus on its competitive advantage target market, move toward specialization, and create the unique position. On the other hand, the securitizaton also promotes the emergence of the role of the securitization value chain manager in the banking industry. The securitization value chain manager masters the process of securitization, making the creation and the circulation of securitization rapidly and inexpensively. And the emergence of this role in the banking industry is also one kind of specialization.
Using the securitization strategically will provoke a new wave of the division of labors and cooperation and reshape the faces of industry. Moreover, this process of adjustment will liberate more benefits of the economics of scale and scope.
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