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Do financial reforms improve the performance of financial holding companies? The case of Taiwan

Kao, Meng-Chun, Lin, Chien-Ting and Xu, Lei 2012, Do financial reforms improve the performance of financial holding companies? The case of Taiwan, International review of finance, vol. 12, no. 4, pp. 491-509, doi: 10.1111/j.1468-2443.2012.01161.x.

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Title Do financial reforms improve the performance of financial holding companies? The case of Taiwan
Author(s) Kao, Meng-Chun
Lin, Chien-Ting
Xu, Lei
Journal name International review of finance
Volume number 12
Issue number 4
Start page 491
End page 509
Total pages 19
Publisher Wiley-Blackwell Publishing Asia
Place of publication Richmond, Vic.
Publication date 2012-12
ISSN 1369-412X
1468-2443
Summary We examine the performance of financial holding companies (FHCs) in Taiwan after the financial reform that removes the separation of banking, securities, insurance, and other financial services. Using data envelopment analysis, we find that FHCs fail to improve technical efficiencies in the post-reform era. They also do not outperform independent commercial banks after the financial reform. Lower technical efficiency caused by excess operating expenses appears to be the primary source of inefficiency. While scale efficiency may improve as FHCs grow larger, the benefits are marginal and insufficient to offset the potential costs of organizational diseconomies. Our findings suggest that increasing the size and scope of financial activities alone do not necessarily improve the performance of financial firms.
Language eng
DOI 10.1111/j.1468-2443.2012.01161.x
Field of Research 150203 Financial Institutions (incl Banking)
Socio Economic Objective 900101 Finance Services
HERDC Research category C1 Refereed article in a scholarly journal
Persistent URL http://hdl.handle.net/10536/DRO/DU:30049993

Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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Created: Thu, 20 Dec 2012, 09:58:25 EST by Aysun Alpyurek

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