국내 은행합병의 효율성 분석

목차

Ⅰ. 서 론

Ⅱ. 이론 및 선행연구 고찰

Ⅲ. 분석방법
3.1 연구방법
3.2 추정모형

Ⅳ. 실증분석
4.1 분석 대상은행 및 자료
4.2 비용 및 산출물
4.3 투입요소가격
4.4 추정결과 분석

Ⅴ. 결 론

본문내용

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34. Mester, Loretta J. (1990), "A Multiproduct Cost Study of Savings and Loans," Journal of Finance 42, pp. 423-445.
35. ________(1990), "Traditional and Nontraditional Banking: An Information-Theoretic Approach," Working Paper No. 90-3, Federal Reserve Bank of Philadelphia.
36. _______(1996), "A Study of Bank Efficiency Taking Into Account Risk Preferences," Journal of Banking and Finance 20, pp.1025-1045.
37. Murray, John D. and Robert W. White (1983), "Economies of Scale and Economies of Scope in Multiproduct Financial Institutions : A Study of British Columbia Credit Unions," Journal of Finance 38, pp. 887-902.
38. Rhoades, S. A. (1993), "The Efficiency Effects of Horizontal(in-market) Bank Mergers," Journal of Banking and Finance 17, Apr. pp. 411-422.
39. Shaffer, Sherrill (1988), "A Revenue-Restricted Cost Study of 100 Large Banks," Research Paper No. 8806, Federal Reserve Bank of New York.

An Analysis of the Efficiency of Bank Mergers in Korea
Yoo, Hak-Soo*·Ki-Hwan Lee**
This study is to examine the most effective type of merger through an econometric and empirical analysis and simulations of M&A. Utilizing data on 15 Korean banks from 1995 to 1999, we estimate the cost function to test and mutually compare the economies of scale and scope of the local banking industry.
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Firstly, using Translog cost function, the economies of scale and scope for 15 general local banks were measured, but the result does not show evidence of economies of scale and scope. Secondly, simulation results revealed that M&A of Korean banks would produce approximately a 3% cost increase. Also, our results showed that about 73% among 105 possible combinations exhibit post-merger cost increase. Under the current circumstances, inter-bank mergers are fraught with considerable risk. The results of the test clearly disclosed that a merger among small scale banks brings about a negative outcome. This is a case where loss is evident. In terms of risk of cost increase, a merger among big banks showed the lowest likely level of risk on average with respect to any combination of mergers. But in this case it should be remembered that the cause of cost decrease is also the lowest. On the other hand, M&A between middle-scale and small-scale banks would likely entail a considerably low cost decrease despite a substantial likelihood of increased burden cost-wise. Thus, it is revealed that a merger among banks, regardless of its form, clearly shows a relationship in its advantages and disadvantages.
Key Words : Bank, Efficiency of M & A Translog, Cost Function Simulation
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* Chohung Bank
** Division of Shipplng Management, Korea Maritime University

키워드

은행합병,   은행산업,   금융기관,   분석 대상은행 및 자료,   투입요소가격,   추정결과 분석