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Please use this identifier to cite or link to this item: http://ir.ncue.edu.tw/ir/handle/987654321/13880

Title: Do Financial Holding Company Banks Outperform Independent Banks?-Correcting Selection Bias by Matching Methods
Authors: 沈中華;張元
Contributors: 商業教育系
Keywords: Independent Bank;FHC-banks;Selection Bias;Matching Method;CAMEL
Date: 2007-12
Issue Date: 2012-08-27T11:16:09Z
Publisher: 國立中山大學
Abstract: Since the passage of the Financial Holding Company Act in 2001, independent banks increasingly face financial-holding-company-banks (FHC-banks) rivals in the domestic banking markets. Disagreement persists about the advantages for banks of being subordinated to FHC or independent. Conclusions of existing empirical studies of financial performance superiority between two types of banks are controversial.
One important concern is that existing studies did not satisfy the “ceteris paribus” condition in comparing financial performance between them and this will distort the comparisons results, suffered from sample selection bias. A panel data set of TSE-listing independent banks and FHC-banks is constructed to reinvestigate this issue. We apply several matching methods, developed by Rubin (1973), Rosenbaum and Rubin (1983, 1985a,b), match and construct the sample of independent banks which have similar characteristics of FHC-banks. By comparing 15 CAMEL
indicators between sample of FHC-banks and after-matching independent banks from 2002Q1 to 2006Q2, ceteris paribus condition is approached and the problem of sample selection bias is mitigated as well. By analyzing after matching samples, our empirical result suggests that on average, FHC-banks still outperform independent banks on most of indicators on capital adequacy, asset quality, earning ability and liquidity but not on management ability and thus partially consistent with synergy hypothesis in the literature.
Relation: 第15屆證券暨金融市場理論與實務研討會, 國立中山大學, 2007 年12月15日
Appears in Collections:[商業教育學系] 會議論文

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