| Summary: | 碩士 === 朝陽科技大學 === 財務金融系碩士班 === 98 === With the trend of globalization, opening of financial markets, competition of foreign banks, acquisition and innovation, that brings about different features in financial industry. In addition, the US subprime mortgage crisis has evolved into a global financial tsunami, which generates the impact of the top five winners (Merrill Lynch, Goldman Sachs, Lehman Brothers, and Bear Stearns). After the subprime mortgage crisis of 2007, March 2008 the nation''s No. 5 bank, Bear Stearns is merged by JP Morgan Chase; September 15, 2008 Lehman Brothers declares bankruptcy. Five giant Wall Street only remains Morgan Stanley and Goldman Sachs Group. Financial crisis hits the U.S. economy continuously and spreads to countries around the world. At the same time, global stock markets fell sharply, bringing economic recession, and causing scare of investors. Because getting some lessons from Asian and American financial crisis, many countries had reformed to stabilize financial industry. Therefore, the investigation of the determinants of performance and measurement of banking performance would be worthy by further researching.
In recent years, the emerging market especially the Asian is the most import and discussed market. The past literatures most detect single country, the studies of cross country focus on country of Latin America and Europe, for example Fries et al. (2002), Grigorian and Manole (2002), Bonin et al. (2004) and Koutsomanoli-Filippaki et al. (2008). Therefore, this paper constructs 1991-2005 financial industry firm-level panel data of Asian emerging market countries for further explore the determinants of bank performance. Besides, except financial variables, this paper considers the credit rating and risk variables, that rare used by former researches. Apart from the differences in samples, the most difference from previous literatures is that this paper follows Panzar-Rosse (1987) and considers the best indicators of competitiveness, namely the H value of P-R model to measure the banking market and competitive conditions. Compared with Peria and Mody (2004), this study with a more complete, detailed of the banks, and financial information and we select the optimal model for further empirical analysis. We hope the empirical results would provide some valuable information for government, firms, investors and the further study.
Empirical results show that in seven countries of Asian emerging market, the determinants of bank performance in Spread、ROE and ROA models are Liquidity、Equity and Risk. Liquidity and Equity have the positive effects, but Risk is negative effects.
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