Bank Evaluation : On the Basis of Financial Innovation and Market Power by Short Panel Analysis

• Main Authors: Te-Wei Wen, 溫德威
• Other Authors: Hsien-Chang Kuo
• Format: Others
• Language: zh-TW
• Published: 2004
• Online Access: http://ndltd.ncl.edu.tw/handle/68835975741948901380

碩士 === 國立暨南國際大學 === 財務金融學系 === 92 === This research confers to the internal innovation of the bank and then the market power which is the external behavior of the bank. To know how the financial innovation and market power affect bank’s market value in this keen competition of the financial environment. In the previous study, this discussion about innovation is almost in the manufacturing industry. However, financial innovation, which plays an important role for banks in recent years, bank evaluation is gradually pay attention .So this topic is meaningness for study in-deep. This research adopts Ohlson''s(1995) model and, analyzes explanatory capability extended the book value of the financial statement. We collect this panel data set for the period 1997 to 2002 to investigate this debate. Because this data set is short panel data which has heteroscedasticity ,we use bootstrap method to catch more data to overcome the shortcomings. Empirical results show that financial innovation effect the market value of the bank statistically insignificant, and then indicate a positive relation between the market power and the market value of the bank. It implys the external ability of the bank which has capability enough to explain the market value of the bank fully besides bank’s book value.