The Study of Financial Tsunami on Bank Operating Performance - Evidence from Cathay Financial Holdings Company Case

• Main Authors: Yu-fang Chou, 周瑜芳
• Other Authors: Chin-hsiung Hsu
• Format: Others
• Language: zh-TW
• Published: 2012
• Online Access: http://ndltd.ncl.edu.tw/handle/z5s5n3

碩士 === 東吳大學 === 財務工程與精算數學系 === 100 === The financial holding company was established in Taiwan since year 2002. In year 2007, the first huge financial crisis hit financial holding company, it was because that the two big real estates in the United States, Fannie Mae and Freddie Mac, must be taken control of. Also, the U.S. old brand investment bank, Brother Leiman, was in the same situation. In the same time, the third biggest investment bank, Merrill Lynch was bought by the Bank of America with 50 billion U.S. dollars. The main insurance company, U.S. AIG, faced the financial crisis and asked 40 billion U.S. dollars for aid from U.S. Federal Reserve. Because of such situation, three of five biggest investment companies were vanished, only the first investment company Goldman Sachs and the second investment company Morgan Stanley were up and down during these periods. It’s the trigger to give rise to the financial tsunami of global stock market. Under the leverage effect of lots of derivative products and the mutual influence of global financial network and infinite extends, it also had great effect with financial industries in Asia. The financial industries in Taiwan accelerated to purchase or merge to integrate in order to strengthen the constitution. The excellent financial industries will move forward to mainland China and the other countries in Asia. The professional and financial person with international view will replace the existing management team so as to promote the international competitiveness. Therefore, the financial holding company will become the trend in the future. 　　This research is to analyze an individual case with Guotai financial holding company, which is the biggest financial holding company in Taiwan. Adopted with SWOT analysis to probe into individual case(advantage, disadvantage, opportunity, and threat), and with the basis of SPSS statistics, by using paired samples T to examine and confer each subsidiary company the effect of operation in financial holding company after financial tsunami, including management synthesis effect(business scale of charges, ratio of margin, average contribution degree of staff) and financial synthesis effect(property return rate ROA, return on equity ROE) etc. So as to study every main subsidiary company undergoes financial tsunami before and after to research every variable of synthesis effect obviously or not. According to the data of research analysis and integration, we can make a research to observe the establishment of financial holding company to fulfill the ability of synthesis effect and decrease the damage of financial tsunami. In the other hand, we use the independent sample T to examine the difference of operation effect in every subsidiary before and after the financial tsunami, and the result will be the reference for the financial industries.