An Analysis on Efficiency of Domestic Bills Financial Corporation in Taiwan - An Application of Stochastic Frontier Model

碩士 === 東吳大學 === 經濟學系 === 95 === In view of the shrinking guarantee business, unfavorable yield curve and fixed-income concentrated investment portfolio. Taiwan’s bills finance industry reported a weak pre-tax return on equity of 6.9% in year 2006, down from 11.4% in 2005. Facing increasing difficult...

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Main Authors: MING-HSUEH HU, 胡明學
Other Authors: Cheng-Ping Cheng
Format: Others
Language:zh-TW
Published: 2007
Online Access:http://ndltd.ncl.edu.tw/handle/42365230645389272775
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spelling ndltd-TW-095SCU053890242015-10-13T16:55:43Z http://ndltd.ncl.edu.tw/handle/42365230645389272775 An Analysis on Efficiency of Domestic Bills Financial Corporation in Taiwan - An Application of Stochastic Frontier Model 台灣地區票券業之績效分析~隨機邊界模型之應用 MING-HSUEH HU 胡明學 碩士 東吳大學 經濟學系 95 In view of the shrinking guarantee business, unfavorable yield curve and fixed-income concentrated investment portfolio. Taiwan’s bills finance industry reported a weak pre-tax return on equity of 6.9% in year 2006, down from 11.4% in 2005. Facing increasing difficulties within the industry environment, this paper is to research the efficiency of bills finance corporations. This thesis applies the stochastic frontier method to analyze the relative efficiency of 13 domestic Bills Finance Corporations between 2004 and 2006. The research findings are: (1) the balance of commercial paper guarantee is a positive factor to the cost function; (2) the revenue of interest is a negative factor to the cost function; (3) the newly established bills finance corporations have higher operating efficiency than that of the older ones; (4)the greater the general branches house count of a bills finance corporation, the less is its efficiency; (5)Corporations with paid-in-capital exceeding 10,000 million are less efficient than those with paid-in-capital under 10,000 million; (6)a higher capital adequacy ratio will reduce the inefficiency of a bills financial corporation. Cheng-Ping Cheng 鄭政秉 2007 學位論文 ; thesis 74 zh-TW
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description 碩士 === 東吳大學 === 經濟學系 === 95 === In view of the shrinking guarantee business, unfavorable yield curve and fixed-income concentrated investment portfolio. Taiwan’s bills finance industry reported a weak pre-tax return on equity of 6.9% in year 2006, down from 11.4% in 2005. Facing increasing difficulties within the industry environment, this paper is to research the efficiency of bills finance corporations. This thesis applies the stochastic frontier method to analyze the relative efficiency of 13 domestic Bills Finance Corporations between 2004 and 2006. The research findings are: (1) the balance of commercial paper guarantee is a positive factor to the cost function; (2) the revenue of interest is a negative factor to the cost function; (3) the newly established bills finance corporations have higher operating efficiency than that of the older ones; (4)the greater the general branches house count of a bills finance corporation, the less is its efficiency; (5)Corporations with paid-in-capital exceeding 10,000 million are less efficient than those with paid-in-capital under 10,000 million; (6)a higher capital adequacy ratio will reduce the inefficiency of a bills financial corporation.
author2 Cheng-Ping Cheng
author_facet Cheng-Ping Cheng
MING-HSUEH HU
胡明學
author MING-HSUEH HU
胡明學
spellingShingle MING-HSUEH HU
胡明學
An Analysis on Efficiency of Domestic Bills Financial Corporation in Taiwan - An Application of Stochastic Frontier Model
author_sort MING-HSUEH HU
title An Analysis on Efficiency of Domestic Bills Financial Corporation in Taiwan - An Application of Stochastic Frontier Model
title_short An Analysis on Efficiency of Domestic Bills Financial Corporation in Taiwan - An Application of Stochastic Frontier Model
title_full An Analysis on Efficiency of Domestic Bills Financial Corporation in Taiwan - An Application of Stochastic Frontier Model
title_fullStr An Analysis on Efficiency of Domestic Bills Financial Corporation in Taiwan - An Application of Stochastic Frontier Model
title_full_unstemmed An Analysis on Efficiency of Domestic Bills Financial Corporation in Taiwan - An Application of Stochastic Frontier Model
title_sort analysis on efficiency of domestic bills financial corporation in taiwan - an application of stochastic frontier model
publishDate 2007
url http://ndltd.ncl.edu.tw/handle/42365230645389272775
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