| 摘要: | 近年來台灣金融產業因市場競爭激烈，家數眾多，市場集中度低，缺乏國際競爭力，使得獲利持續下降。政府透過立法先後通過金融合併法、金融控股公司法之金融六法之立法程序，營造有利之產業環境。使得未來金融業跨業經營型態確立，利於推動購併及金融大型化，有助金融產業長期發展。為了協助金融產業突破困境，規劃發展金融業朝控股公司，銀行與證券、保險等跨業整合，朝大型化金融集團方式經營。以迎向現今全球金融產業積極從事購併與業務整合之趨勢。 本研究首先以產業組織S-C-P模型進行金融產業結構分析及台灣金融產業趨勢與狀況探討。其次探討邁向金融控股公司后之廠商行為，包含廠商對廠商策略（市場拓展、購併策略、經營型態改變及風險管理），廠商對消費者策略（未來需求潛力分析、產品多樣化、差異化-搭售策略、電子商業與客戶關係管理策略）。最後並以花旗集團為標竿個案，研究與旅行家集團新設合併後，透過集團內各個事業體的交叉銷售及組織重組，為廠商帶來最大綜效。 透過金融控股公司之策略執行達成：（一）規模經濟（二）購併與策略聯盟（三）範疇經濟（四）顧客關係管理建立忠誠度高的顧客（五）電子商業與網路組織（六）降低營運成本。提供志於台灣金融控股公司之經營者參考。
According to a great number of banks’ participation in Taiwan, it resulted in a highly competitive and low-concentration financial market. In addition, since most financial institutions are lack of international competitiveness, their profits have gradually declined in recent years. To handle the competitive environment, the legislation Yuan has passed the financial holding company (FHC) act and the mergers and acquisition (M&A) act in the late 2001 and the early 2002, respectively. These acts can help the financial industry operate in an integrated manner and benefit from the economy of scale. Individual financial institutions, however, need sharp strategies to achieve its success for the FHC combining the business of commercial banks, securities, insurance and the likes. This study utilizes the framework of industrial organizations to analyze the FHC strategies. First, I use the structure-conduct-performance (SCP) model to examine the specific structure of Taiwan financial industry and to infer its trend and characteristics. Second, I explore the plausible behavior of the FHC, including business-to-business strategies (e.g., market extension, mergers and acquisitions, changes in operations, and risk management) and business-to-customer strategies (e.g., potential demand, product diversification, product differentiation, tie-in sales, e-business, and customer relations). Finally, I adopt Citigroup as a benchmark case to investigate its synergy by its cross sales and organization restructuring after its consolidation with Travelers. This study provides valuable guidelines for the FHC related to the following areas: (1) economy of scale, (2) M&A and strategic alliance, (3) economic scope, (4) customer relation management to build up royalty, (5) e-business and internet organizations, and (6) reduction of operating costs. These issues may contribute to the decision makers of Taiwan financial industry. Keyword: FHC: financial holding company; structure; conduct; performance; Strategy; merger; acquisition; Citigroup. |
