銀行業的國際化和全球化是不可避免的趨勢，伴隨著風險和利潤的增加，為降低銀行風險，1988年，為使銀行更健全經營，國際清算銀行（Bank of International Settlement，BIS）將最低資本適足率設定為8％，但2008年金融危機影響金融發展相當嚴重。因此，2010年9月，“Basel III”規定了更嚴格的資本要求，逐步將核心第一類資本從目前的2％提高到4.5％；第一類資本從目前的4％上調至6％，資本適足率應達到10.5％。更高的資本要求可以提高銀行抵抗損失的能力，承受極端風險，從而促進銀行的管理。然而，由於銀行試圖保留更多的資本，更高的資本要求也可能導致貸款減少，這增加了運營成本並減少了利潤，因此對銀行業務的運營績效不利。
銀行在執行資本適足率的問題上造成了成本提高及風險增加的問題，大多伴隨如何增加獲利為主，從資本適足率的整體來看，只有少部份的文獻提及不同資本對風險承受能力與對銀行實際經營上所造成的影響，而我們的研究就將從這部份切入，當銀行面對並權衡不同資本種類的同時，主管機關制定的政策，將對不同種類的資本如何要求，在銀行與主管機關之間所期待得到的結果又是如何。台灣雖小，但為因應巴塞爾資本協定III的較高標準，臺灣主管機關要求國內銀行逐步增加資本適足率的質與量，因為所有金融風暴的影響在島內因為經濟規模的不足，反而造成更大的波瀾，從90年的擠兌到近年07、08年的國際危機，台灣無一倖免，因此我們更應該深入思考台灣金融穩定的問題；而面對美國這牽動全球經濟與金融市場的大國，其利用自有的優勢全球化的佈局，也讓境內多次金融波動影響著全世界的穩定，所以針對執行資本要求對於美國銀行的經營效率方面，有著顯著且極高的研究必要性，並利用相互的對照可以確切的了解，資本要求在國際上，無論是如何規模的經濟體中，都扮演著極為重要的角色，且對於穩定經濟體中金融穩定有著絕對的必要性。本研究應用二階段拔靴法截尾迴歸模型，探討提高核心資本適足率、第一類資本適足率及資本適足率對臺灣與美國商業銀行經營效率的影響。結果顯示於2011至2013年間，要求銀行增加核心及第一類資本適足率，對其經營效率產生了顯著的負面影響。
因此，如何提高核心和第一類資本的水平，並逐漸降低對銀行業績的負面影響，就長遠來看，資本適足率較高的水平會提高金融市場的穩定性，使銀行業發展更安全，結果與Basel III規定的時間表和意圖一致。

Internationalization and globalization of the bank industry are inevitable trends, with higher risk and profit accompanying them. To reduce the risk of banks, the Bank for International Settlements has set the minimum capital adequacy ratio to be 8%, but the financial crisis in 2008 affected financial development quite severely. Hence, in September 2010, Basel III set even stricter capital requirements to gradually increase Core Tier 1 capital from 2% to 4.5%. Tier 1 capital is to be raised from 4% to 6%, while the capital adequacy ratio should reach 10.5%. Higher capital requirements can raise the ability of banks to respond to losses and to endure extreme risk, thus facilitating management restoration of banks. However, the higher capital requirements may also result in a reduction of loans as the banks try to retain more capitals. This increases operation costs and reduces profits and hence is detrimental to the operational performance of the bank industry.
Banks raised the issue of cost and risk increase in implementing capital adequacy ratio, Mostly accompanied by how to increase profits, From the overall capital adequacy ratio of view,Only a small part of the literature mentions the impact of different capital on risk tolerance and the actual operation of banks. Our research will cut from this part, The Taiwan government has gradually instructed domestic banks to raise the quantity and quality of their capital adequacy ratio to meet the higher level of Basel III standard. This study employs the two-stage bootstrapped truncated regression to investigate the impacts on the efficiency of Taiwan domestic commercial banks due to the increases in required Core, Tier 1, and total capital adequacy ratios. The results show that, from 2011 to 2013, the increased Core and Tier 1 capital adequacy ratios have significant negative effects.
Therefore, raising the levels of Core and Tier 1 capital ratios gradually lessens the negative impact on bank performance. Eventually, in the long run, a higher quality of the capital adequacy ratio will improve the stability of the financial market and make the banking industry sounder and safer. The results are consistent with the schedule and intention set by Basel III.

論文審定書 i
摘 要 ii
Abstract iv
第一章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 7
第三節 研究貢獻 9
第四節 研究架構 11
第五節 研究流程 13
第二章 文獻探討 14
第一節 銀行業的風險 14
第二節 資本要求 17
第三節 資本要求對銀行經營效率的影響 40
第三章 研究方法 61
第一節 DEA 61
第二節 產出平移不變模型 64
第三節 二階段拔靴截尾迴歸模型 65
第四章 資本要求對台灣商業銀行經營效率的影響 67
第一節 台灣的銀行產業的背景與發展 67
第二節 投入、產出變數與資料來源 73
第三節 實證結果 79
第四節 討論 85
第五章 資本要求對美國銀行產業經營效率的影響 89
第一節 美國的銀行的背景與發展 89
第二節 投入、產出變數與資料來源 97
第三節 實證結果 98
第四節 討論 102
第六章 結論 104
第一節 結論與建議 104
第二節 未來可能研究方向 106
參考文獻 108

1. Anat R. Admati, Peter M. DeMarzo, Martin F. Hellwig, Paul Pfleiderer, Fallacies, Irrelevant Facts, and Myths in the Discussion of Capital Regulation: Why Bank Equity is Not Expensive. Preprints of the Max Planck Institute for Research on Collective Goods Bonn, 42, 2010.
2. Adam J. Levitin, Safe Banking: Finance and Democracy. The University of Chicago Law Review, 83(1), 357-455, 2016.
3. Agoraki, M. E. K., M. D Delis, and F. Pasiouras, Regulations, competition and bank risk-taking in transition countries. Journal of Financial Stability, 7(1), 38-48, 2011.
4. Ahmed, A., Takeda, C., Thomas, S., Bank loan loss provisions: are examination of capital management, earnings management and signaling effects. Journal of Accounting and Economics, 28, 1-25, 1999.
5. Aizenman, Joshua and Daniel Riera, Real Exchange Rate and International Reserves in the Era of Growing Financial and Trade Integration Forthcoming. Review of Economics and Statistics, 2007.
6. Aiyar, S., C. W. Calomiris, J. Hooley, Y. Korniyenko, and T. Wieladek, The international transmission of bank capital requirements: Evidence from the UK. Journal of Financial Economics, 113(3), 368-382, 2014.
7. Allen N. Berger, Richard J. Herring and Giorgio P. Szegö, The Role of Capital, in Financial Institutions. Wharton working paper. 95(1), 1995.
8. Allen Berger, Gregory Udell, Do Risk-Based Capital Allocate Bank Credit and Cause a “Credit Crunch” in the United States? Journal of Money, Credit and Banking, 26(3), 585-628, 1994.
9. Altunbas, Y., Carbo, S., Gardner, E., Molyneux, P., Examining the relationship between capital, risk and efficiency in European banking. Eur. Financial Manage, 13(1), 49–70, 2007.
10. Aly, Hassan Y., Richard Grabowski, Carl Pasurka, and Nanda Rangan, Technical, scale, and allocative efficiencies in U.S. banking: An empirical investigation. Review of Economics and Statistics, 72, 211-218, 1990.
11. Anil K. Kashyap and Jeremy C. Stein, The Optimal Conduct of Monetary Policy with Interest on Reserves. American Economic Journal: Macroeconomics, 4(1), 266-282, 2012.
12. Armen Hovakimian, Edward Kane, Luc Laeven, How Country and Safety-Net Characteristics Affect Bank Risk-Shifting. Journal of Financial Services Research, 23(33), 177-204, 2003.
13. Asli Demirguc-Kunt and Harry Huizinga, Financial Structure and Bank Profitability, Development Research Group. The World Bank, and Department of Economics, Tilburg University, and CEPR., 2000.
14. Athanasoglou, P., S. Brissimis and M. Delis, 'Bank-specific, industry-specific and macroeconomic determinants of bank profitability'. Journal of International Financial Markets, Institutions, and Money, 18, 121-36, 2008.
15. Avery, R. B., and A. N. Berger, Risk-based capital and deposit insurance reform. Journal of Banking & Finance, 15(4), 847-874, 1991
16. Ayuso, J., Perez D., Saurina, J., Are capital buffers pro-cyclical? Evidence from Spanish panel data. Journal of Financial Intermediation, 13, 249–264, 2004.
17. Badar Nadeem Ashraf, Bushra Bibi, Changjun Zheng, How to regulate bank dividends? Is capital regulation an answer? Economic Modelling, 57, 281–293, 2016.
18. Balk, Bert M., Scale efficiency and productivity change, Journal of Productivity Analysis , 15, 159-183, 2001.
19. Banker, Rajiv D., Abraham Charnes, and William W. Cooper, Some models for estimating technical and scale inefficiencies in data envelopment analysis. Management Science 30, 1078-1092, 1984.
20. Banker, Rajiv D., Hsihui Chang, and Seok-Young Lee, Differential impact of Korean banking system reforms on bank productivity. Journal of Banking and Finance, 34, 1450-1460, 2010.
21. Benston, George J., Robert A. Eisenbeis, Paul M. Horvitz, Edward J. Kane, and George G. Kaufman, Perspectives on Safe and Sound Banking: Past, Present, and Future. (MIT Press), 1986.
22. Benston, George J., The purpose of capital for institutions with government-insured Deposits. Journal of Financial Services Research, 5, 369-384, 1992.
23. BCBS. Basel III: A global regulatory framework for more resilient banks and banking systems, 2010.
24. Basel Committee on Banking Supervision, Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems (Bank for International Settlements, Basel, Switzerland), 2011.
25. Beatty, A., Chamberlain, S.L., Magliolo, J., Managing Financial reports of commercial banks: the influence of taxes, regulatory capital, and earnings. Journal of Accounting Research, 33, 231 - 262, 1995.
26. Beck, Thorsten, Asli Demirgüç-Kunt, and Vojislav Maksimovic, The Influence of Financial and Legal Institutions on Firm Size. Journal of Banking and Finance, 30, 2995-3015, 2006.
27. Benjamin H. Cohen and Michela Scatigna, Banks and capital requirements: Channels of Adjustment. Journal of Banking & Finance, 2016.
28. Berger, A.N. The profit-structure relationship in banking—Tests of market-power and efficient-structure hypotheses. Journal of Money, Credit and Banking, 27, 404-431, 1995.
29. Besanko, David, and George Kanatas, The regulation of bank capital: Do capital standards promote bank safety? Journal of Financial Intermediation, 5, 160-183, 1996.
30. Benston, George J., Robert A. Eisenbeis, Paul M. Horvitz, Edward J. Kane, and George G. Kaufman, Perspectives on Safe and Sound Banking: Past, Present, and Future. (MIT Press), 1986.
31. Beltratti, Andrea , Stulz, Rene M.,The credit crisis around the globe: why did some banks perform better? Journal Financial Economic, 105, 1-17, 2012.
32. Bhat, V., Banks and income smoothing: An empirical analysis. Applied Financial Economics, 505-510, 1996.
33. Berger, A. N., and C. H. Bouwman, How does capital affect bank performance during financial crises? Journal of Financial Economics, 109, 146-176, 2013.
34. Bikker, J., Metzemakers, P., Is bank capital pro-cyclical? A cross-country analysis. De Nederlandsche Bank Working Paper No.009, 2005.
35. Blum, Jürg, Do capital adequacy requirements reduce risks in banking? Journal of Banking and Finance, 23, 755-771, 1999.
36. Bogdan Dima, Marius Sorin Dincă, Cristi Spulbăr, Financial nexus: Efficiency and soundness in banking and capital markets. Journal of International Money and Finance, 47, 100-124, 2014.
37. Borio, C., C. Furfine, P. Lowe, Procyclicality of the financial system and the financial stability: issues and policy options. Bank for International Settlements Working Paper No.1, 2001.
38. Boudrigua A., Taktak, N.B, Jellouli, S., Banking supervision and non-performing loans: A cross-country analysis. Journal of Financial Economic Policy, 2009.
39. Bradley, Michael G., Carol A. Wambeke, and David A. Whidbee, Risk weights, risk-based capital, and deposit insurance. Journal of Banking and Finance 15, 875-893, 1991.
40. Bryant, J., A model of reserves, bank runs, and deposit insurance. J. Bank. Finance, 4(4), 335–344, 1980.
41. Calem, Paul, and Rafael Rob, The impact of capital-based regulation on bank risk-taking. Journal of Financial Intermediation, 8, 317-352, 1999.
42. Camanho, Ana S., and Robert G. Dyson, Data envelopment analysis and Malmquist indices for measuring group performance. Journal of Productivity Analysis, 26, 35-49, 2006.
43. Cara Lown and Donald P. Morgan, The Credit Cycle and the Business Cycle: New Findings Using the Loan Officer Opinion Survey. Journal of Money, Credit, and Banking, 38(6), 2006.
44. Cepii, Global currencies for tomorrow: a European perspective. Bruegel Blueprint Series/ Cepii Research Reports, 2011.
45. Chami, Ralph, and Thomas Cosimano, Monetary policy with a touch of Basel. Journal of Economics and Business, 62, 161-175, 2010
46. Charles W. Calomiris, Charles M. Kahn, The Role of Demandable Debt in Structuring Optimal Banking Arrangements. The American Economic Review, 81(3), 497-513, 1991.
47. Charnes, Abraham, William W. Cooper, and Edwardo L. Rhodes, Measuring the efficiency of decision making units. European Journal of Operational Research, 2, 429-444, 1978.
48. Charnes, A., Cooper, W.W. & Rhodes, E., Evaluating program and managerial efficiency: An application of data envelopment analysis to program follow through. Management Science, 27, 668-697, 1981.
49. Chatterjee Samprit and Bertram Price, Regression Analysis by Example, 2nd Edition (John Wiley and Sons, New York), 1991.
50. Chen, Yi-Kai, Amy Y. Ho, and Ching-Lan Hsu, Are bank capital buffers cyclical? Evidence for developed and developing countries. Journal of Financial Studies, 22, 27-55, 2014.
51. Cheng, Cheng-Ping, Lien-Wen Liang, and Jen-Ping Chen, A simulation of the impact of new capital regulation in Basel III on the cost efficiency of Taiwan’s banks. Journal of Management and Systems, 22, 175-203, 2015.
52. Chien-Chiang Lee, Meng-Fen Hsieh, The impact of bank capital on profitability and risk in Asian banking. Journal of International Money and Finance, 32(C), 251-281, 2013.
53. Chiu, Yung-H0, Chyanlong Jan, Da-Bai Shen, and Pen-Chun Wang, Efficiency and capital adequacy in Taiwan banking: BCC and super-DEA estimation. Service Industries Journal, 28, 479-496, 2008.
54. Chiuri, M. C., Ferri, G. and Majnoni, G., The macroeconomic impact of bank capital requirements in emerging economies: Past evidence to assess the future. Journal of Banking and Finance, 26, 881-904, 2002.
55. Chortareasa, G. E., Girardoneb, C., and Ventouric, A., Bank supervision, regulation, and efficiency: Evidence from the European Union. Journal of Financial Stability, 8, 292–302, 2012.
56. Claudia Curi, Ana Lozano-Vivas and Valentin Zelenyuk, Foreign bank diversification and efficiency prior to and during the financial crisis: Does one business model fit all? Journal of Banking and Finance, 61, S22-S35, 2015.
57. Coelli, Timothy J., Prasada Rao, Christopher J. O’Donnell, and George E. Battese, An introduction to efficiency and productivity analysis, 2nd Edition (Springer, New York), 2005.
58. Collins, J.H., Shackelford, D.A., Wahlen, J.M., Bank differences in the coordination of regulatory capital, earnings, and taxes. Journal of Accounting Research, 33 (2), 263-291, 1995.
59. Cordell, Lawrence R., and Kathleen K. King, A market evaluation of the risk-based capital standards for the U.S. Financial system. Journal of Banking and Finance, 19, 531-562, 1995.
60. Cuoco, Domenico, and Hong Liu, An analysis of Var-based capital requirements. Journal of Financial Intermediation, 15, 362-394, 2006.
61. Cull, R., Senbet, L. W. and M. Sorge, Deposit Insurance and Financial Development. Journal of Money, Credit, and Banking, 37(1), 43-82. 2005.
62. Curi, Claudia, and Ana Lozano-Vivas, Financial center productivity and innovation prior to and during the financial crisis. Journal of Productivity Analysis, 43, 351-365, 2015.
63. Daesik Kim; Anthony M. Santomero, Risk in Banking and Capital Regulation. The Journal of Finance, 43(5), 1219-1233, 1988.
64. Damien Besancenot and Radu Vranceanu, Experimental Evidence on The‘Insidious’ Illiquidity Risk. ESSEC Working paper, 1291-961, 27, 2011
65. David Besanko & George Kanatas, The Regulation of Bank Capital: Do Capital Standards Promote Bank Safety? Journal of Financial Intermediation, 5, 160–183, 1996.
66. David VanHoose, Theories of bank behavior under capital regulation. Journal of Banking and Finance, 31, 3680–3697, 2007.
67. Dimitris Gavalas, How do banks perform under Basel III? Tracing lending rates and loan Quantity. Journal of Economics and Business, 81, 21-37, 2015.
68. Deniz Anginer, Asli Demirguc-Kunt, Harry Huizinga, Kebin Ma, Corporate governance and bank capitalization strategies. J. Finan. Intermediation, 26, 1-27, 2016.
69. Dewatripont, Mathias, and Jean Tirole, The Prudential Regulation of Banks. (MIT Press), 1994.
70. Diamond, D.W., Dybvig, P.H., Bank runs, deposit insurance, and liquidity. J. Political Econ, 91(3), 401–419, 1983.
71. Diana Hancock and James A. Wilcox, The”credit crunch” and the availability of credit to small business. Journal of Banking and Finance, 22, 983-1014, 1998.
72. Dimitris Gavalas, How do banks perform under Basel III? Tracing lending rates and loan quantity. Journal of Economics and Business, 81, 21-37, 2015.
73. Dong Shang Chang, Po Wen Kuo and Shou Min Tsao, Measuring the financing and business performance of the information technology industry. African Journal of Business Management, 6(3), 1164-1176, 2012.
74. Douglas W. Diamond and Raghuram G. Rajan, A Theory of Bank Capital. The Journal of Finance, 55(6), 2431-2465, 2000.
75. E. Gandolfo, Critical analysis of the new perimetric techniques. Acta Ophthalmologica, TOC-80-232, 10, 2002.
76. Easterby-Smith, M., Thorpe, R. & Jackson, P. R., Management research, 3rd edition London, SAGE Publications, 2008.
77. Eric A. Posner, How Do Bank Regulators Determine Capital-Adequacy Requirements? The University of Chicago Law Review, 82(4), 1853-1895, 2015.
78. Estrella, M., Blauert, J., Campilan, D., Gaventa, J., Gonsalves, J., Guijt, I., Johnson, D. and Ricafort, R., Learning from change: Issues and experiences in participatory monitoring and evaluation. Participation in Development Series No. xiv. London: Intermediate Technology Publications.
79. Fabian Valencia, Bank capital and uncertainty. Journal of Banking and Finance, 2015.
80. Flannery, M.J., Capital regulation and insured banks’ choice of individual loan default risks. Journal of Monetary Economics, 24, 235-58, 1989.
81. Frankel, Jeffrey and Shang-Jin Wei, “Managing Macroeconomic Crises” NBER Working Papers 10907, (Cambridge, Massachusetts: National Bureau of Economic Research), 2004.
82. Farrell, Michael J., The measurement of productive efficiency. Journal of the Royal Statistical Society-Series A (General), 120, 253-290, 1957.
83. Ferrier, G.D. & Lovell, C.A.K., Measuring cost efficiency in banking: Econometric and linear programming evidence. Journal of Econometrics, 46, 229-245, 1990.
84. Ferri, G., L. Liu, and G. Majnoni, The Role of Rating Agency Assessments in Less Developed Countries: Impact of The Proposed Basel Guidelines. Journal of Banking and Finance, 25(1), 115-148, 2001.
85. Fiordelisi, F., Marquez-Ibanez, D., Molyneux, P., Effciency and risk in European banking. Journal of Banking and Finance, 35(5), 1315-1326, 2011.
86. Franklin Allen, Douglas Gale, Financial Intermediaries and Markets, Journal of the econometric society, 72(4), 1023-1061, 2004.
87. Fukuyama, Hirofumi, and William L. Weber, A slacks-based inefficiency measure for a two-stage system with bad outputs. Omega, 38, 398-409, 2010.
88. Furfine, Craig, Bank portfolio allocation: The impact of capital requirements, regulatory monitoring, and economic conditions. Journal of Financial Services Research, 20, 33-56, 2001.
89. Furlong, Frederick T., and Michael C. Keeley, Capital regulation and bank risk-taking: A note. Journal of Banking and Finance, 13, 883-891, 1989.
90. Gabe de Bondt and Henriette Prast, Bank capital ratios in the 1990s: cross-country Evidence. BNL Quarterly Review, 53(212), 71-97, 2000.
91. Gennotte, Gerard, and David Pyle, Capital controls and bank risk, Journal of Banking and Finance, 15, 805-824, 1991.
92. Giannetti, Mariassunta, and Steven Ongena, Financial integration and firm performance: Evidence from foreign bank entry in emerging markets. Review of Finance, 13, 181-223, 2009.
93. Giorgio Di Giorgio, Financial development and reserve requirements. Journal of Banking and Finance, 23(7), 1031-1041, 1999.
94. Gordon J. Alexander, Alexandre M. Baptista, Shu Yan, A comparison of the original and revised Basel market risk frameworks for regulating bank capital. Journal of Economic Behavior and Organization, 85, 249-268, 2013.
95. Gordy, Michael B., A risk-factor model foundation for ratings-based bank capital rule. Journal of Financial Intermediation, 12, 199-232, 2003.
96. Guidara, Alaa, Van S. Lai, Issouf Soumaré, and Fulbert T. Tchana, Banks’ capital buffer, risk, and performance in the Canadian banking system: Impact of business cycles and regulatory changes. Journal of Banking and Finance, 37, 3373-3387, 2013.
97. Gupta, O. K., Doshit, Y., & Chinubhai, A., Dynamics of productive efficiency of Indian banks. International Journal of Operations Research, 5(2), 78-90, 2008.
98. Hamid Mehran and Anjan Thakor, Bank Capital and Value in the Cross-Section. The Review of Financial Studies, 24(4), 1019-1067, 2011.
99. Hasan, I & Hunter, WC., Income Smoothing in the Depository Institutions: An Empirical Investigation‟. Advances in Quantitative Analysis of Finance and Accounting, 71, 1-16, 1999.
100. Haubrich, Joseph G., and Paul Watchel, Capital Requirements and Shifts in Commercial Bank Portfolios, Economic Review. Federal Reserve Bank of Cleveland, 3-2-15, 1993.
101. Heba Abou-El-Sood, Are regulatory capital adequacy ratios good indicators of bank failure? Evidence from US banks. International Review of Financial Analysis, 2015.
102. Howe, K. R., Epistemology, methodology and education sciences. Positivist dogmas, rhetoric, and the education science question. Educational Researcher, 38(6), 428-440, 2009.
103. Hu, Jin-Li, Yang Li, and Yung-Ho Chiu, Ownership and nonperforming loans: Evidence from Taiwan’ s banks. Developing Economies, 42, 405-420, 2004.
104. Huang, Tai-Hsin, and Tong-Liang Kao, Joint estimation of technical efficiency and production risk for multi-output banks under a panel data cost frontier model. Journal of Productivity Analysis, 26, 87-102, 2006.
105. Huang, Tai-Hsin, and Mei-Hui Wang, Comparisons of economic inefficiency between output and input measures of technical inefficiency using the Fourier flexible cost function. Journal of Productivity Analysis, 22, 123-142, 2004.
106. Hviding K., Nowak ,M., & Luca, A. R., Can higher reserves help reduce exchange rate volatility? IMF Working Paper 04-189, Washington, DC: International Monetary Fund, 2004.
107. Hyun, Jung-Soon, and Byung-Kun Rhee, Bank capital regulation and credit supply. Journal of Banking and Finance, 35, 323-330, 2011.
108. Ikawa, Motomichi, “Reform of the International Monetary System Based on Special Drawing Rights and its Implications for Asia” Pacific Economic Review, 14(5), 668-681, 2009.
109. Isabelle Distinguin, Caroline Roulet, and Amine Tarazi, Bank regulatory capital and liquidity: Evidence from US and European publicly traded banks. Journal of Banking and Finance, 37, 3295–3317, 2013.
110. James R. Barth, Chen Lin, Yue Ma, Jesús Seade, Frank M. Song, Do bank regulation, supervision and monitoring enhance or impede bank efficiency? Journal of Banking and Finance, 37, 2879–2892, 2013.
111. James R. Barth., Gerard Caprio, Jr., and Ross Levine, Bank regulation andsupervision: What works best? Journal of Financial Intermediation, 13, 205-248, 2004.
112. James R. Barth, Gerard Caprio, Jr., and Ross Levine, Banking systems around the globe: Do regulations and ownership affect performance and stability? in Frederic S. Mishkin, ed.: Prudential Supervision: What Works and What Doesn’t (Chicago University Press), 2001.
113. Jeroen Klomp, Jakob de Haan, Banking Risk and Regulation: Does One Size Fit All? De Nederlandsche Bank Working Paper, 323, 57, 2011.
114. Jiří Podpiera, Laurent Weill, Bad Luck or Bad Management? Emerging Banking Market Experience. Journal of Financial Stability, 4(2), 135-148, 2008.
115. Jokipii, T., Milne, A., The cyclical behaviour of European bank capital buffers. Journal of Banking and Finance, 32, 1440–1451, 2008.
116. Juo, Jia-Ching, Decomposing the change in profit of Taiwanese banks: Incorporating risk, Journal of Productivity Analysis, 41, 247-262, 2014.
117. Joe Peek and Eric So Rosengren, Bank Lending and The Transmission of Monetary Policy. Federal Reserve Bank of Boston, 39, 1995.
118. Joshua Aizenman, Daniel Riera-Crichton, Real Exchange Rate and International Reserves in the Era of Growing Financial and Trade Integration. NBER Working Paper No. 12363, 2007.
119. Kahane, Y., Capital adequacy and the regulation of financial intermediaries. Journal of Banking and Finance, 2, 207-217, 1977.
120. Kai Dua and Nicholas Sim, Mergers, acquisitions, and bank efficiency: Cross-country evidence from emerging markets. Research in International Business and Finance, 36, 499-510, 2016.
121. Kashyap, Anil K., and Jeremy C. Stein, Cyclical implications of the Basel II capital Standards. Economic Perspectives, 28, 18-31, 2004.
122. Kathrin Berensmann, Florence Dafe, Ulrich Volz, Local Currency Bond Markets and the SDGs:Potentials, Challenges and Policy Recommendations for Sub-Saharan African Economies. Oxford Review of Economic Policy, 31-3-4, 350-378, 2015.
123. Keeley, Michael, and Frederick Furlong, A reexamination of the mean-variance analysis of bank capital regulation. Journal of Banking and Finance, 14, 69-84, 1990.
124. Keeton, W.R.,The New Risk-Based Capital Plan for Commercial Banks. Federal Reserve Bank of Kansas City Economic review, 74, 40-60, 1989.
125. Kendall, Sarah B., and Mark E. Levonian, Alternative Risk-Based Capital Designs and Their Implications for Bank Behavior and the Deposit Insurance Fund. Presented at the North American Economics and Finance Association meetings, 1992.
126. Kenneth J. Kopecky and David VanHoose, A model of the monetary sector with and without binding capital requirements. Journal of Banking and Finance, 28, 3, 633-646, 2004.
127. Kevin Jacques and Peter Nigro, Risk-Based Capital, Portfolio Risk, and Bank Capital: A Simultaneous Equations Approach. Journal of Economics and Business, 49, 533-547, 1997.
128. Kim, D., Santomero, A., Risk in banking and capital regulation. Journal of Finance, 43, 1219-1233, 1988.
129. Kneip, Alois, Léopold Simar, and Paul W. Wilson, Asymptotics and consistent bootstraps for DEA estimators in nonparametric frontier models. Econometric Theory, 24, 1663-1697, 2008.
130. Koehn, Michael, and Anthony M. Santomero, Regulation of bank capital and portfolio Risk. Journal of Finance, 35, 1235-1244, 1980.
131. Kroll, Matthias, “Financing climate protection with newly created SDRs,” Future Finance Discussion Paper No. 3, World Future Council., 2011.
132. Kwan, Simon H., The X-efficiency of commercial banks in Hong Kong. Journal of Banking and Finance, 30, 1127-1147, 2006.
133. Laderman, E.S., Wealth Effects of Bank Holding Company Securities Issuance and Loan Growth under the Risk-Based Capital Requirements. Federal Reserve Bank of San Francisco Economic Review, 2, 30-41, 1994.
134. Lam, C., Chen, A., Joint effects of interest rate deregulation and capital requirements on optimal bank portfolio adjustments. Journal of Finance, 40, 563-575, 1985.
135. Lamoreaux, Naomi R., Insider Lending: Banks, Personal Connections, and Economic Development in Industrial New England. (Cambridge University Press), 1994.
136. Liliana Rojas-Suarez, Rating banks in emerging markets: What credit rating agencies should learn from financial indicators. Ratings, rating agencies and the global financial system, 177-201, 2002.
137. Iannotta, G., Nocera, G., Sironi, A., Ownership structure, risk and performance in the European banking industry. J. Bank. Finance, 31(7), 2127–2149, 2007.
138. Iannotta, G., Testing for opaqueness in the European banking industry: evidence from bond credit ratings. J. Serv. Res, 31(3), 2127–2149, 2006.
139. Larry D. Wall and Pamela P. Peterson, Banks’ Responses to Binding Regulatory Capital Requirements. Federal Reserve Bank of Atlanta Economic Review, 1995.
140. Lavin, A., M.C. Griswold, and G.V. Karels, The Impact of Risk-Based Captial Standards and Regulatory Examinations on the Portfolio Composition of Commercial Banks. Working Paper, 1996.
141. Levy Yeyati, Eduardo, “The Cost of Reserves” Economics Letters, 100(1), 39-42, 2008.
142. Lin, S., L., J. H. Penm, S. C. Gong, and C. S. Chang, Risk-based capital adequacy in assessing on insolvency-risk and financial performances in Taiwan's banking industry. Research in International Business and Finance, 19(1), 111-153, 2005.
143. Loretta J. Mester, A study of bank efficiency taking into account risk-preferences. Journal of Banking and Finance, 20(6), 1025-1045, 1996.
144. Luc Laeven, Lev Ratnovski and Hui Tong, Bank size, capital, and systemic risk: Some international evidence. Journal of Banking and Finance, 2015.
145. Ma, CK., Loan Loss Reserves and Income Smoothing: The Experience in the U.S. Banking Industry‟ Journal of Business Finance and Accounting, 15, 487-497, 1988.
146. Margarita Rubio and José A. Carrasco-Gallego, The new financial regulation in Basel III and monetary policy: A macroprudential approach. Journal of Financial Stability, 26, 294-305, 2016.
147. Maria Chelo V. Manlagnit, Basel regulations and banks’ efficiency: The case of the Philippines. Journal of Asian Economics, 39, 72–85, 2015.
148. Martín Gonzalez-Eiras and Dirk Niepelt, Sustaining Social Security. Institute for International Economic Studies, Seminar Paper No. 731, 2004.
149. Matthew Osborne, Ana-Maria Fuertes, Alistair Milne, In good times and in bad: Bank capital ratios and lending rates. International Review of Financial Analysis, http://dx.doi.org/10.1016/j.irfa.2016.02.005, 2016.
150. Mercieca, Steve, Klaus Schaeck, and Simon Wolfe, Small European banks: Benefits from diversification? Journal of Banking and Finance, 31, 1975-1998, 2007.
151. Michael C. Keeley, Frederick T. Furlong, A Reexamination Of Mean-Variance Analysis Of Bank Capital Regulation. Journal of Banking and Finance, 14, 69-84,
1990.
152. Michael J., Gombola, Amy Yueh-FangHo, Chin-ChuanHuang, The effect of leverage and liquidity on earnings and capital management: Evidence from U.S. commercial banks. International Review of Economics and Finance, 43, 35-58, 2016.
153. Miller SM and AG Noulas, The Technical Efficiency of Large Bank Production, J Banking and Finance, 20(3), 495-509, 1996.
154. Milne, Alistair, Bank capital regulation as an incentive mechanism: Implications for portfolio choice. Journal of Banking and Finance, 26, 1-23, 2002.
155. Mohammad Bitar, Wadad Saad, Mohammed Benlemlih, Bank risk and performance in the MENA region: The importance of capital requirements. Economic Systems, 40, 398-421, 2016.
156. Mora, Nada and Andrew Logan, “Shocks to Bank Capital: Evidence From UK Banks at Home and Away.” Bank of England Working Paper NO. 387, 2010.
157. Moyer, S., Capital adequacy ratio regulations and accounting choices in commercial banks. Journal of Accounting and Economics, 13, 123–154, 1990.
158. Marko Košak, Shaofang Li, Igor Lončarski, Matej Marinč, Quality of bank capital and bank lending behavior during the global financial crisis. International Review of Financial Analysis, 37, 168–183, 2015.
159. Naceur, S. & Kandil, M., The impact of capital requirements on banks' cost of intermediation and performance: the case of Egypt. Journal of Economics and Business, 61, 70-89, 2009.
160. Necmi K. Avkiran, An application reference for data envelopment analysis in branch banking: helping the novice researcher. International Journal of Bank Marketing, 1-5, 206-220, 1999.
161. Pamela Labadie, Financial Intermediation and Monetary Policy in a General Equilibrium Banking Model. Journal of Money, Credit and Banking, 27, 4, 1290-1315, 1995.
162. Paolo Angelini, Stefano Neri, Fabio Panetta, Monetary and Macroprudential Policies. Macroprudential Research Network of European Central Bank, 1449, 2012.
163. Pasiouras, F., International Evidence on the Impact of Regulations and Supervision on Banks’ Technical Efficiency: An Application of Two-Stage Data Envelopment Analysis. Review of Quantitative Finance and Accounting, 30, 187-223, 2008.
164. Paul Calem, The Impact of Capital-Based Regulation on Bank Risk-Taking. Journal of Financial Intermediation, 8, 317-352, 1999.
165. P. Beling, G. Overstreet and K. Rajaratnam, Estimation Error in Regulatory Capital Requirements: Theoretical Implications forConsumer Bank Profitability. The Journal of the Operational Research Society, 61(3), Consumer CreditRisk Modelling; Transportation, Logistics and the Environment, 381-392, 2010.
166. Paul Calem, The Impact of Capital-Based Regulation on Bank Risk-Taking. Journal of Financial Intermediation, 8, 317-352, 1999.
167. Patrick Bolton, Xavier Freixas, Corporate Finance and the Monetary Transmission Mechanism. The Review of Financial Studies, 19(3), 829-870, 2006.
168. Peter Majcher, Increased Bank Capital Requirements: Neither Panacea nor Poison. 16th Annual Conference on Finance and Accounting, ACFA Prague 2015, 29th, 2015.
169. Pichaphop Chalermchatvichien, Seksak Jumreornvong, Pornsit Jiraporn, Basel III, capital stability, risk-taking, ownership: Evidence from Asia. Journal of Multinational Financial Management, 28, 28-46, 2014.
170. Pierre Pessarossi and Laurent Weill, Do capital requirements affect cost efficiency? Evidence from China. Journal of Financial Stability, 19, 119-127, 2015.
171. Prasad, Eswar, “Is the Chinese Growth Miracle Built to Last?” China Economic Review, 20(3), 103-23, 2009.
172. Ray, Subhash C., Are some Indian banks too large? An examination of size efficiency in Indian banking. Journal of Productivity Analysis, 27, 41-56, 2007.
173. Rajiv D. Banker, Hsihui Chang, Seok-Young Lee, Differential impact of Korean banking system reforms on bank productivity. Journal of Banking and Finance, 34, 1450-1460, 2010.
174. Rime, B. Capital requirements bank behaviour: Empirical evidence from Switzerland. Journal of Banking and Finance, 25, 789-805, 2001.
175. Rochet, Jean-Charles, Capital requirements and the behaviour of commercial banks. European Economic Review, 36, 1137-1170, 1992.
176. Rodrik, Dani, “The Real Exchange Rate and Economic Growth: Theory and Evidence” John F. Kennedy School of Government Harvard University, 2007.
177. Robert Cull, Lemma W. Senbet and Marco Sorge, The effect of deposit insurance on financial depth: A cross-country analysis. The Quarterly Review of Economics and Finance, 42(4), 673-694, 2002.
178. Saha A., T. S. Ravisankar, Rating of Indian Commercial Banks: A DEA Approach. EJOR, 124(1), 187-203, 2000.
179. Samuel G. Hanson, Anil Kashyap, Jeremy C. Stein, A Macroprudential Approach to Financial Regulation. Chicago Booth Working Paper NO. 10-29, 2010.
180. Sathye M., X-Efficiency in Australian Banking: An Empirical Investigation. J Banking and Finance, 25(3), 613-630, 2001.
181. Scholes, M, Wilson, P., Wolfson, M., Tax planning, regulatory capital planning, and financial reporting strategy for commercial banks. Review of Financial Studies, 3, 625-650, 1990.
182. Seung Jung Lee and Viktors Stebunovs, Bank capital pressures, loan substitutability, and nonfinancial employment. Journal of Economics and Business, 83, 44-69, 2016.
183. Shekhar Aiyar, Charles W Calomiris and Tomasz Wieladek, Identifying channels of credit substitution when bank capital requirements are varied. Bank of England Working Paper. 485, 2014.
184. Shekhar Aiyar, CharlesW.Calomiris and TomaszWieladek, How does credit supply respond to monetary policy and bank minimum capital requirements? European EconomicReview, 82, 142-165, 2016.
185. Sherman, David, and Franklin Gold, Bank branch operating efficiency: Evaluation with data envelopment analysis. Journal of Banking and Finance, 9, 297-315, 1985.
186. Shim, Jeungbo, Capital-Based regulation, portfolio risk, and capital determination: Empirical evidence from the U.S. property-liability insurers. Journal of Banking and Finance, 34, 2450-2461, 2010.
187. Shu-Heng Chen, Chia-Hsuan Yeh, Evolving traders and the business school with genetic programming: A new architecture of the agent-based artificial stock market. Journal of Economic Dynamics and Control, 25-3-4, 363-393, 2001.
188. Simar, L and Wilson, P. W., Estimation and Inference in Two-Stage, Semi-Parametric Models of Productive Efficiency. Journal of Econometrics, 136, 31-64, 2007.
189. Simeon Djankov, Rafael La Porta, Florencio Lopez-De-Silanes, Andrei Shleifer, The Regulation of Entry. The Quarterly Journal of Economics, 100-17, 1, 2002.
190. Staub, R. B., Da Silva e Souza, G., and Tabak, B. M., Evolution of bank efficiency in Brazil: A DEA approach. European Journal of Operational Research, 202, 204–213, 2010.
191. Stewart C. Myers and Nicholas S. Majluf, Corporate Financing and Investment Decisions When Firms Have Information That Investors Do Not Have. Journal of Financial Economics, 13, 187-221, 1984.
192. Stijn Claessens, Simeon Djankov, Daniela Klingebiel, Stock Markets in Transition Economies. Financial Sector Discussion Paper NO. 5, 32, 2000.
193. Stiroh, Kevin J., and Adrienne Rumble, The dark side of diversification: The case of U.S. financial holding companies. Journal of Banking and Finance, 30, 2131-2161, 2006.
194. Sturm, Jan-Egbert, and Barry Williams, Characteristics determining the efficiency of foreign banks in Australia. Journal of Banking and Finance, 32, 2346-2360, 2008.
195. Sufian, F., The impact of risk on technical and scale efficiency: Empirical evidence from the China banking sector. International Journal Business Performance Management,
12, 37-71, 2010.
196. Taggart, Robert A, Stuart I Greenbaum, Bank Capital and Public Regulation. Journal of Money, Credit and Banking, 10(2), 158-69, 1978.
197. Takatoshi Tabuchi, Gianmarco Ottaviano, Jacques-François Thisse, Agglomeration and Trade Revisited. International Economic Review, TOC, 43(2), 409-435, 2002.
198. Thomas F. Hellmann, Kevin C. Murdock and Joseph E. Stiglitz, Liberalization, Moral Hazard in Banking, and Prudential Regulation: Are Capital Requirements Enough?
The American Economic Review, 90(1), 147-165, 2000.
199. Tsu-Tan Fu, Jia-ChingJuo, Han-ChinChiang, Ming-MiinYu, Mei-yingHuang, Risk-based decompositions of the meta profit efficiency of Taiwanese and Chinese banks. Omega, 62, 34-46, 2016.
200. Uri Dothan, Joseph Williams, Banks, bankruptcy, and public regulation. Journal of Banking and Finance, 4(1), 65-87, 1980.
201. Valverde, Santiago C., David B. Humphrey, and Rafael López del Paso, Opening the black box: Finding the source of cost inefficiency. Journal of Productivity Analysis, 27, 209-220, 2007.
202. Van den Heuvel, S. J., The bank capital channel of monetary policy. The Wharton School, University of Pennsylvania, mimeo, 2002.
203. Viral Acharya, Robert Engle, and Matthew Richardson, A New Approach to Ranking and Regulating Systemic Risks. The American Economic Review, 102(3), Papers and Proceedings oF the One Hundred Twenty Fourth Annual Meeting oF the Aerican Economic Association, 59-64, 2012.
204. Wahlen, JM., The Nature of Information in Commercial Bank Loan Loss Disclosures. The Accounting Review, 69, 3, 455-78, 1994.
205. Wang, Mu-Shun, Financial innovation, Basel Accord III, and bank value. Emerging Markets Finance and Trade, 50, 23-42, 2014.
206. Waqar Nadeem, Mari Juntunen, Jouni Juntunen, Consumer segments in social commerce: A latent class approach. Journal of Consumer Behaviour, 16(3), 195–292, 2016.
207. Weill, Laurent, Measuring cost efficiency in European banking: A comparison of frontier Techniques. Journal of Productivity Analysis, 21, 133-152, 2004.
208. Wetmore, JL & Brick, JR., Loan-Loss Provisions of Commercial Banks and Adequate Disclosure, A Note‟. Journal of Economics and Business, 46, 299–305, 1994.
209. Yue P., Data Envelopment Analysis and Commercial Bank Performance: A Primer with Applications to Missouri Banks. Federal Reserve Bank of St. Louis Economic Review, 74(1), 31-45, 1992.
210. Z. Fungacova, L. Solanko, L. Weill, Does competition influence the bank lending channel in the Euro area? J. Bank. Finance, 49, 356-366, 2014.
211. Zhou Xiaochuan,. Reform the International Monetary System. People’s Bank of China, Beijing, Available at: http://www.pbc. gov.cn/english//detail.asp?col =6500&ID=178, 2009.

中文文獻
1. 楊永列、黃鏡如，台灣地區本國銀行生產面與成本面Malmquist生產力指數
之估計，經濟論文叢刊，37:4，2010，353-378。
2. 高強、黃旭男與 Sueyoshi, T.，管理績效評估-資料包絡分析法，2003，華泰。
3. 黃台心，以隨機成本邊界函數分析本國銀行的規模與多元經濟，經濟論文叢
刊，26:2，1998，209-241。
4. 黃台心，由利潤函數衡量我國銀行廠商之經濟效率-參數計量法的應用，經
濟論文，27:2，1999，283-309。
5. 黃美瑛、謝志彬，系統風險對金控法通過前後之銀行業成本與效率影響─隨
機成本邊界法，應用經濟論叢，86，2009，1-35。
6. 陳永琦，傅祖壇，本國銀行合併之效益分析，經濟研究，34:2，2003，173-
196。