Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/20585
標題: Relationship Banking -Evidence from Global Countries
銀行關係往來-全球國家的實證
作者: Chen, Hsiao-Chi
陳曉琪
關鍵字: 銀行往來關係;Relationship lending;單一銀行往來;多家銀行往來;競爭;Single-banking;Multiple- banking;Competition
出版社: 企業管理學系所
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摘要: 
In the era of the globalization, the influence among countries is getting higher and butterfly effects happen all the time. The financial health of a country is closely related to economic stability and this is exactly the reason why financial institutions are strictly controlled by government authorities. This paper is aimed to discuss the effects of nation-wide evidence for the development of politics, finance and economics in view of the opaque information channels between small firm and commercial bank during 1996-2004. Meanwhile, we analyze why firms choose single banking or multiple banking. Finally, we evaluate the competition influences on relationship lending. The empirical results show that: (1) the relationship lending is influenced by the quality of the government management and how many restricts on banking. (2) While concentration of bank industry is getting higher, the company will choose multiple banking; and when the ratio of direct finance is ascending, banks will select relationship lending so that they can make more profit. (3) As a country is threatened by the systemic banking crisis, the economic of a country is too unstable to fund small firms with opaque information channels, and the opportunity of single banking relationship is rising. (4) Small firms prefer to build relationship with few banks so that they can get loan from bank if required. (5) Firms with the primary bank in financial distress are more likely to resort to multiple banking for better protection; however, they probably only care about low interest cost yet ignore the bankruptcy risk of primary bank of BKROEPRIM10%.

在全球化的浪潮下,國與國之間相互影響的力量與日俱增,時時可見蝴蝶效應的產生,而由於金融體系是否健全與該國的經濟穩定息息相關,因此多數國家皆嚴格管制金融機構。本研究以銀行觀點探討1996-2004年,全球各國政治、金融及經濟發展對關係型放款的影響,同時亦以企業觀點探討此時期,各國政治、金融及經濟發展對企業選擇單一或多家銀行往來的影響,最後再探討環境競爭對關係放款的影響。重要實證如下:(1)ㄧ國政府官僚品質的良莠及政府對銀行限制的多寡皆會影響到企業與銀行間的往來關係發展。(2)當市場銀行集中度越高,企業會選擇多家銀行往來;而當直接融資比例越高時,銀行會選擇利差較高關係型放款契約。(3)當國家發生系統性銀行危機時,政府為穩定國內局勢,交易型放款會上升,且單一銀行往來的機率提升。(4)中小型企業偏好和少數銀行建立往來關係,如此當中小型企業面臨資金需求時能儘快獲得銀行貸款。(5)當首位融資銀行為財務危機銀行,企業會選擇多家銀行往來,以避免轉換契約成本,但企業亦可能會僅注重眼前利息成本降低的利益,而選擇權益報酬率在整個銀行產業後10%之銀行(BKROEPRIM10%)為首位銀行,忽略未來可能產生轉換契約的成本。
URI: http://hdl.handle.net/11455/20585
其他識別: U0005-0707200616285300
Appears in Collections:企業管理學系所

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