銀行集中度、銀行市場競爭度與銀行風險－－台灣實證研究

BANK CONCENTRATION BANK COMPETITION AND BANK RISK EVIDENCE FROM TAIWAN

近來政府認為台灣的銀行競爭力不夠跟銀行過多有關，因此在政策上，希望藉由提高銀行集中度來降低市場競爭度，進而增加它們的競爭 力。本文目的是以1996～2005年台灣銀行業的風險為研究對象，探討銀行集中度對銀行風險的影響，並進一步探討銀行集中度、銀行市場競爭度與銀行風險的關係。本文銀行市場競爭度變數強調的是Lerner指數，並且在估計方法上，強調固定效果的兩階段最小平方法。主要實證結果有以下兩個：第一、愈高的銀行集中度及愈低的銀行市場競爭度，銀行的信用風險及盈餘波動風險愈低。第二、銀行市場競爭度並不是導致銀行集中度與銀行風險（銀行信用風險及盈餘波動風險）負向關係的原因。

The Taiwan government thinks the competitiveness of Taiwan’s banking industry is not enough because of over-banking. To enhance competitiveness, the government is decreasing bank competition by raising concentration of banking. This paper examines the impact of bank concentration on bank risk and explores the relationship between bank concentration, bank competition and bank risk in the Taiwan’s banking industry from 1996 to 2005. This paper uses the Lerner Index to measure bank competition and applies the fixed effects two-stage least squares technique in the method of estimation. The main results show that (1) higher bank concentration and lower bank competition are associated with lower bank credit risk and bank earnings volatility risk, and (2) bank competition isn’t driving the negative relationship between bank concentration and bank risk, containing both bank credit risk and bank earnings volatility risk.