An Analysis Of The Management Performance On The Subsidiary Companies Before And After The Establishment Of The Financial Holding Companies－Application Of Generalized Translog Cost Function

• Main Authors: SU,YI-SHIN, 蘇怡心
• Other Authors: SHU,FANG-HSIA
• Format: Others
• Language: zh-TW
• Published: 2006
• Online Access: http://ndltd.ncl.edu.tw/handle/17346366446548105535

碩士 === 國立臺北大學 === 經濟學系 === 94 === There are 14 financial holding companies in Taiwan now. It is a worthful subject whether every financial holding company can really be fully achieve the advantages and improve the management performance after their establishment or not, such as cost, scale, scope, etc. So, the purpose of this research is to discuss the management performance of the four kinds of business subsidiary companies such as bank, insurance, securities and ticket certificates before and after the establishment of financial holding companies. The research period is from the year of 87 to the year of 93. A lot of scholars were in the past to carry on performance analysis by using the translog cost function, but this function is unable to solve the situation that the observing value is zero. Thus, this research adopted the generalized translog cost function which changed the outputs by using the Box-Cox function and made the fixed effect model in the vertical-horizontal materials (panel data) to measure and compare the cost efficiency, economies of scale, and economies of scope of the subsidiary companies before and after the establishment of the financial holding companies. The result showed, the management performance of the subsidiary companies did not have a lot of disparity, and the cost had not decreased very much either. After the establishment of the financial holding companies, we can see that the performance of the economies of scale and scope on the bank subsidiary companies didn’t have changed very much. And the securities subsidiary companies and ticket certificate subsidiary companies had better performance. Although the cost of the insurance subsidiary companies drop a little, they had worse performance. In addition, we also found that the subsidiary companies can operate and increase the investments in order to make resources reach effective application, and then impel the cost to reduce.