近年來，我國壽險市場保費收入通路來源發生丕變，銀行保險崛起，於2009年正式超越業務員通路，成為我國壽險業最主要的銷售通路來源，因此銀行保險為近年來熱門的研究主題，但過往文獻甚少以量化方式探討彼此合作深淺關係的選擇與影響因素，因此本研究借取市場集中度指標，量化銀行與保險公司的業務合作緊密程度。觀察2006年至2009年間雙方合作關係的增減，研究結果發現，壽險公司在合作廣度上採取限縮策略，並持續加深合作深度於主要業務合作對象上，整體產業走向更加集中之趨勢。 接著本研究再以固定效果迴歸模型來探討具備什麼特質的壽險公司會傾向採取合作關係較為緊密的集中策略。將合作關係分為合作廣度與合作深度兩個面向作探討，結果發現當壽險公司規模愈大、為外商壽險公司、市佔率愈高以及涉入銀行保險程度愈深，愈傾向採取分散策略，只有當壽險公司隸屬於金控體系之下，才反向採取集中策略。 最後本研究在進一步以資料包絡分析法(DEA)，並輔以Tobit迴歸模型，期望了解國內銀行保險的集中趨勢是否會影響壽險公司之經營績效，結果在合作廣度與合作深度上並無顯著發現，可能原因在於國內壽險公司與銀行的合作關係朝向集中發展之趨勢，追求的績效表現可能未反映在效率值上。

我國銀行保險業務規範錯縱複雜，直接規定與間接規定交疊，且依金融機構性質不同而有所差異，有若干相互牴觸或與規範不一致之情形，亦有規範主體不明（如規範主體究竟為銀行業或保險業）、監理單位不同（如業務督導分別隸屬金管會保險局或銀行局）、對被監理金融機構內部權責單位劃分不同（如保險部門或財富部門）等問題，增加了監理上的複雜與難度。 　　監理規範複雜度對於監理者帶來挑戰，亦增加業者法令遵循成本，是以藉由本研究之統整規劃並參考美國、日本與中國銀行保險法規，整合現行銀行保險業務規範提出銀行保險單一化規範建議，以解決上述規範問題。

過去若於銀行保險通路中發生銷售爭議，因其特殊通路地位，從法律角度審視後，卻找不到法源依據使銀行為其職員銷售保險行為負相關責任。消費者權益在其直觀認知下欲向當初商品販售者—銀行，請求負擔法律責任時，可能碰壁而求償無果，故基於保護消費者權益之理念，促使保險法第163條之修法。本文擬就修法過後，對於消費者權益之提升是否真的有所影響，而分析此次立法成效，進而討論修法後，銀行得以兼業之型態經營保險經紀人、代理人業務，此一兼業型態之性質為何，藉此釐清主管機關監理權限以及範圍。 本研究以過去文獻研究提供消費者依不同法源依據向銀行進行求償作為基礎，討論在保險法修法前後之條文運作下，就消費者權益而言，確實能有效提升，使銀行肩負起保險商品銷售責任，與修法之立法目的吻合。惟就考量兼業之性質以及保險經紀人、代理人市場經營型態等因素，透過比較分析相關法令規範，本研究認為現行立法架構應有調整空間並提出修法建議。

我國銀行保險起始於一九九○年代，正式發展則於二○○一年金融控股公司法通過之後，期間經過許多金融保險法規的修訂與鬆綁，使得我國銀行保險業務蓬勃發展。時至今日，銀行保險已成為壽險業界最重要之行銷管道。 就市場現況觀之，銀行保險大多採取轉投資保經代公司或簽訂銷售協議模式經營：前者為三方架構之間接模式，亦即銀行透過保險經紀人（或代理人）公司，間接與保險公司進行業務合作；後者為兩方架構之直接模式，亦即銀行直接與保險公司進行業務合作。因應上述市場運作，主管機關雖訂有相關監理法令以資規範，但仍產生下列問題： 1. 銀行銷售保險商品之法律依據為何？ 2. 銀行保險業務究竟為銀行或保險公司業務？監理管轄如何劃分？ 3. 銀行保險業務發生法律爭議，銀行通路之責任歸屬是否明確？ 4. 銀行通路之權責是否與其實質利益相符合？ 5. 銀行轉投資保險經紀人或代理人公司是否妥當？ 6. 銀行銷售保險商品過程，消費者資訊及隱私權之保護是否產生缺漏？ 本文以為，此等法律疑義若無法釐清，將嚴重影響消費者權益、市場發展與監理效率。本文建議主管機關應修訂相關法規，調整現行銀行保險之經營架構、開放銀行得兼營保險經紀人及保險代理人業務、確認銀行職員或理財專員之登錄公司為銀行，以建立權責相符的銀行保險架構。如此方能避免消費爭議，創造消費者、銀行及保險公司三贏之局面。 / Bancassurance was introduced in Taiwan in the 1990s and officially recognized by the regulatory authority after the enactment of the Financial Holding Company Act in 2001. Thanks to a series of regulatory reforms and de-regulation, it grew significantly in business volume. Today, bancassurance is the most important channel for life insurance companies. In light of market practices, two kinds of business models are currently adopted by banks for their bancassurance business: i.e. investing insurance intermediary companies or signing marketing agreement. The former, a tripartite model, benefits banks indirectly to carry on bancassurance through their insurance intermediary (broker or agent) subsidiaries; the later, a bilateral model, means that banks can enter into an agreement directly with insurance undertakings to sell insurance products. Responding to the market practices, certain regulations for bancassurance are promulgated by the regulatory authority. However, there still exist some legal issues as obstacles and hurdles against the market, including the legal basis of bancassurance, the allocation of the regulatory jurisdiction, the accountability and responsibility of banks, the appropriateness of bank’s holding an insurance intermediary company, the leakage in the protection of consumers’ interests and privacy in sales and so on. It may result in negative impacts toward the protection of consumer interests, the development of the market, and the effectiveness of the supervision system if the aforesaid can not be clarified. It is submitted that the regulatory authority shall revise the relevant regulations to adjust operation mechanism in market, let banks operate the same as an insurance broker (or agent), and confirm that bank employee shall register as insurance solicitors of banks. Under such a scenario, banks could be fully responsible as a distribution channel, so that consumption issues could be avoided and an all-wins relation among consumer, bank and insurance company could be achieved.

從1998年透過銀行通路銷售的壽險保單新契約保費市場佔有率僅1.5%，至2005年新契約保費已達2,031億元，市場佔有率更高達37.5%，短短幾年銀行保險業務成長爆發性亦又創下一台灣奇蹟；尤其近三年投資型保險在銀行通路發展迅速，銀行有多種投資型產品，是那些消費者喜歡購買投資型保險?不管在行銷上或是在金融業最重視之消費者滿意度都需大家要去了解，本研究動機在於提出一些看法及解決方式，也是基於實務銷售資料去分析了解消費者長相及滿意度，希望能對往後投資型保險行銷上有些參考價值。 根據本研究銀行分行購買投資型保險分析其客戶屬性: 投資型保險之平均保費與性別、年齡及區域是有差異化且彼此有顯著之交互作用，得到以下結論: 1. 被保險人性別，以女性購買為主，占62.85%。 2. 平均保費約為102.7萬，男生高於女生：109.1萬 > 99.3萬。 3. 被保險人年齡主要購買年齡為40歲至60歲，保費合計占54.94%，50歲以上的平均保費顯著高於整體平均保費，歸因於節遺產稅。 4. 以區域來看，北市的平均保費最高，高雄區最低。 5. 性別、年齡與區域彼此間有顯著的交互作用（p-value0.037＜0.050） 另從投資型保險申購滿意度調查，我們從問卷的各選項中，依照統計方法找出與滿意度有顯著關係的項目，可得到以下結論： 1. 清楚找誰辦理手續：在研究之A銀行，客戶平均資產50萬以上就有專屬的理專服務，所以部份客戶有理專專人服務，ㄧ進分行就知道要找誰購買投資型保險，而有一些客戶沒有專人服務，ㄧ進去分行不知要去找誰，所以推測有可能被帶錯地方找錯人服務，因此可能花費較多的時間，所以「清楚找誰辦理手續」對於整體滿意度有顯著影響。 2. 清楚說明產品相關資訊：現在的消費者重視專業，尤其事涉消費者敏感財產增減，理專可不可以清楚說明產品相關資訊是很重要的。 3. 細心保護客人私人資料：在於A銀行會針對50萬以上的客戶提供ㄧ對ㄧ的服務，其他銷售通路及其他理專不能聯絡客戶，客戶的資料受到保護並不會受到過度及多人銷售之問題。 4. 各項作業處理速度快：現代人普遍耐性較差，對於作業處理速度是判斷專不專業之重要項目，所以節省時間也是影響滿意度的項目之一。 另外我們發現「答應的事都能做好」及「態度良好親切」的平均分數最高，卻對於整體購買滿意度沒有顯著相關，代表即使是服務態度很好，並不會提升消費者購買的滿意度，客戶在意的是專人服務、專業、個人隱私及作業速度快，所以確實在專業財富管理領域中”專業”才是最能勝出之武器。 綜合以上研究，保險公司需要充分了解不同通路特性推出適合的商品，使得投資型保險的客群更廣；保險公司也需與通路一起加強人員投資理財相關專業知識及行銷技能，提高客戶滿意度。 / The First year premium（FYP）in bancassurance channel market share is only 1.5% in 1998. It is NTD 203 billion and the market share is 37.5%. Bancassurance grows fast in the few year and make a Taiwan. Especially unit linked insurance grows fast in bancassurance channel. There are many kinds of unit linked insurance and what kinds of customers prefer to buy them? The purpose of the study is to provide some ideas and solutions based on customers’ profile and satisfaction from analysis of real sales data. We hope that it’s helpful for unit linked insurance marketing. According to the profile of customers who bought unit linked insurance in branches, there are difference among average premium, gender and living area, and there are significant intersection each other. The conclusion is： 1. Gender of the insured：The proportion of female is larger and it’s 62.5%. 2. Average premium is 1,027 thousand, male’s（1,091 thousand） is larger than female’s（99.3 thousand）. 3. The age of the insured is mostly between 40 and 60 years old. Their total premium is about 54.94% of total premium. The average premium of the insured more than 50 years old is significantly larger than the average, and the reason is tax. 4. Living area：The average premium in Taipei is the highest and it’s lowest in Kaoshung. 5. There are significant intersection each other among gender, age and living area. （p-value0.037＜0.050） From customer satisfaction survey in buying unit linked insurance, we use statistics method to find out the significant related items with satisfaction in all items in questionnaire. 1. specific service：In the A bank we surveyed, customers whose average AUM is larger than 500 thousand（called Wealth management customers） have one-to-one financial advisory service. When customers come in a branch, some of them know to contact with their financial advisor, but others do not know. It cost more time in their financial service. 2. clear explanation about products：Customers think that profession is very important now, especially it’s related to their growth of asset. It’s very important if their financial advisors can explain related information about the products. 3. customer data privacy：In the A bank we surveyed, wealth management customers just can be sold product by their specific financial advisor. Other financial advisors or other sales channel can not get their information. 4. speed in operation process：the speed in operation process is the key item to check profession. Saving time in process is the item related to satisfaction. In the other hand, we find out that the average scores of “well done in the bank’s promise” and “friendly” are the highest, but there are no significant related with satisfaction . It means that friendly service can not prove customer satisfaction in purchasing. Customers care about one-to one service, profession, personal privacy and speed in operation. So, “profession” is the key issue is wealth management field. Insurance companies should understand different characteristics for different channel. They can launch suitable products for them to get widely customers in unit linked insurance. They also need to strengthen investment related professional knowledge and sales skill to enhance customer satisfaction with their distributors.

銀行保險對我國壽險公司日益重要，在2003年時新契約保費收入高達25％都是由其所貢獻。但造成銀行保險對我國壽險公司日益重要的因素，究竟是因其對我國壽險公司經營效率產生正面之影響，抑或大家只是一窩蜂地搶進？因此，本研究將透過實證分析，探討銀行保險對我國壽險公司經營績效之影響。 本研究首先採用資料包絡分析法進行效率分析。之後，再以Tobit迴歸分析影響人壽險公司之經營效率因素為何。 經營效率上，我國整體壽險公司之總生產效率沒有達到該有的一半。進一步分析總生產效率，發現配置效率比技術效率來的無效率。技術效率則呈現上升的趨勢。如進一步分析其上升之因素，發現是純技術效率與規模效率上升所造成。 在Tobit迴歸分析指出銀行保險確實對壽險公司之經營效率有所助益。產品集中程度與經營效率無顯著關係。市佔率與總生產效率、技術效率以及規模效率呈現負相關，可見我國壽險公司會因其市佔率高而導致其提升經營效率之誘因下降。外商公司在規模效率與配置效率低於本國公司，原因在於對我國市場之不熟悉。是否為金控公司子公司，因限於時間因素，對我國壽險公司之經營效率影響尚不明顯。最後，東南亞金融風暴、地雷股事件等造成市場利率走低，故投資資產比率與技術效率呈負向關係。另外，總資產規模與各項效率呈現顯著正相關，代表規模愈大的公司愈能有效率地經營。 / Bancassurance, which caused new policy’s premium to reach to 25% in 2003, has become more and more important to the life insurance industry in Taiwan. But what made it so significant, its positive effect upon increasing the operating efficiency of the life insurance industry in Taiwan, or the irrational people who just swarming into it? Thus, this research tests how bancassurance influence the life insurance industry in Taiwan. This study uses Data Envelopment Analysis to measure the operating efficiency, and Tobit regression to test what were the facts that influenced operating efficiency of life insurance industry. As for the life insurance industry in Taiwan, not even half of the overall efficiency was reached to what it should be. To analyze further to overall efficiency would come out the conclusion that allocative efficiency was less efficient than technical efficiency while technical efficiency was trending up. The rising of pure technical efficiency and scale efficiency was found out to be the reason of ascension after profoundly analysis. Tobit regression supports that bancassurance is positive related to operating efficiency of life insurance industry. The product fucus or diversification is not related to operating efficiency. Market share has negative relationship with overall efficiency, technical efficiency and scale efficiency, which indicate that the inducement of increasing operating efficiency of the life insurance industry could be lowered due to their high market share. Scale efficiency and allocative efficiency is lower in foreign companies than in domestic companies for that foreign companies are unfamiliar with the market of Taiwan. There is no relationship between subsidiaries of holding company with operating efficiency yet because of the time-limited. At last, due to the financial storm in South-east Asia, the event of accounting fraud and etc, the market interest rate was trending low, and then made the ratio of investment assets to the total assets to be negative related to technical efficiency. Furthermore, the positive relationship between scale and efficiency represents that the larger the scale of a company is, the more efficient it can be in running business.

摘要 銀行保險在歐美已盛行多年且深具實效，然在台灣可說是方興未艾。壽險與銀行業者於兩岸相繼加入世界貿易組織後，經營上均面臨整體環境的挑戰。從事銀行保險，如能充分發揮雙方優勢，似能為消費者、壽險及銀行三方帶來利益。 本文首先探討銀行保險於外國之發展經驗與成功因素，繼以研究國內壽險業與銀行業乃至金融控股公司現況，並自實務面闡述進行銀行保險行銷活動之各項要素，以及目前業界已有之營運模式。此外，本文亦探討保險仲介人於銀行保險之運用，評析壽險，銀行與保險仲介人如何於產銷三方之互動中各取所需，以建立「三贏」之合作關係。 最後，本文針對國內業界所經營之銀行保險業務得失，分析及總結問題所在並提出建議對策，期能作為壽險業者經營銀行保險時之參考。 / Abstract Bancassurance has been implemented successfully at countries of Europe and North America, nevertheless it is still a booming business in Taiwan. Life insurers as well as banks are facing challenges from the change of macro economic environment after both Taiwan and the PRC had joined the World Trade Organization. Entering into the Bancassurance business to maximize both parties’ competitive advantage seems to be beneficial to all consumers, life insurers and banks. This paper examines the experience and success factors of Bancassurance in some developed countries, followed by studying the current situation of life insurers, banks and financial holding companies in Taiwan, and explores the key points for implementing Bancassurance marketing activities and the existing operation models of the insurance industry. In addition, this paper also evaluates the insurance intermediary’s functions in the Bancassurance, analyzes how life insurers, banks and insurance intermediaries could satisfy each others’ needs during the interaction of three players, in order to build a “three-win” cooperative relationship. At the final part, by reference to local life insurers’ lessons in operating Bancassurance, this paper analyzes and summarizes the crucial problems therein. Recommendations are submitted to the local life insurers as the reference for their operation.

由於近年來政府金融政策對於金融控股公司的鼓勵成立，經歷多分天下局面，而發展至金控合併的市場競爭，時程不過數年間，已使金控的發展儼然歷經了一次起伏與循環，而金控成立的目的是在「有效運用客戶資源、追求利潤極大化」，但金控通路交叉行銷是否真的落實「有效運用客戶資源」？藉由財富管理平台建置，是否又能提供客戶金融與保險的建議與配置，進而使金控「利潤極大化」？都將是本論文探討之主要架構。 近年來金融市場資金較為寬鬆[註1]，銀行保險適時成為調節及平衡的良方，不但為銀行消化浮濫的存款資金，並爭取到優渥的業務佣酬，也為保險業開發過去較無法接近的客戶層，產生新的業務量以降低銷售成本。由於銀行與保險業營利周期不同，因此，銀行與保險的結合，可以使收益或績效穩定成長，前者藉此減少對於利差收入的依賴，而後者則可擴大通路版圖，並有效地開發創新商品，讓消費者依據生命週期得到完整且便利的金融服務，因此，我們說銀行保險理想的效益，應該是「多贏」的局面。 但多數銀行未將保險業務做清楚的區隔與標示，並僅銷售極少數特定保單，或將保單包裝為投資商品並與其它金融商品作不對稱的比較。相較於傳統保險業務員，銀行理財專員較著重保險商品的投資性、銷售主導性較低、對保戶後續服務意願也較低、業績壓力相對較高，認知失調的情況較保險業務員高出許多。其種種現象將陸續影響消費者對於保險商品的認知，或使消費者得不到適當的保險規劃。 此外，就相關法令而言，如何來檢視及調整目前銀行保險通路銷售規範的不足顯得特別重要。從監理面，金控法下的專業櫃台是跨業行銷最重要的利器之一，但行銷規範中僅有原則性揭示，實在無法囊括實務所需，例如：專業櫃台定位、功能及行為規範等。而非金控體系所進行的業務合作推廣則有更多值得討論 的空間。就目前合作推廣的發展模式來看，幾乎無法區分其與共同行銷業務的不同。 本論文透過台灣金控市場現況分析、相關法令規範、金控內部通路、保險行銷模式研究探討，以凸顯下列論述重點： 1. 台灣金控市場發展與歐美市場的比較，落實3C[註2]目標及通路運用成功實例分析。 2. 金控法規範交叉行銷涉及之「共同行銷」與「合作推廣」法令，相互間不明確與實務間落差的問題。 3. 透過財富管理平台建置，保險行銷策略中最具績效的「人員行銷模式」所運用的各式通路與方法，及其利基與差異之所在，彰顯金控競爭間的創新與差異性的重要性。 4. 無遠弗屆的「電話行銷」模式，帶領金控通路保險行銷至另一個高峰，藉由簡易 明確的手法，創造客戶、金控、保險公司多贏的局面及其運用之策略。 5. 對現今金控通路保險行銷發展之建議、未來面臨問題及趨勢分析、大陸金控通路發展之預測、進而期許國際市場的參與，提出中肯的建議與結論。 以實務結果與市場數據輔助論文之各立論點，以期達成金控通路保險行銷策略最具體的結論與其實際可行性！ 關鍵字：金融控股公司、銀行保險、跨業行銷、共同行銷、合作推廣、財富管理。

銀行保險通路近年來成為壽險公司主要保險通路之一，因此壽險公司在銀行保險通路所承擔的風險逐漸加重。近年來金融市場處在一個低利環境下，儲蓄型商品（例如：利率變動型年金）為銀行定存商品替代品之一，故，儲蓄型商品逐漸成為銀行保險通路吸引銀行客戶的主力商品。因此可知，壽險公司對銀行保險通路，尤其是，儲蓄型商品之風險管理日漸重要。主管機關為了確保壽險公司清償能力，近年來針對儲蓄性商品制定相關策略，希望藉由限制儲蓄型商品之銷售比例，加強壽險公司之風險管理，防止壽險公司因為銷售過多儲蓄型商品而造成財務負擔。 本研究以商品組合互補效果的概念達到風險管理，其中儲蓄型商品以利率變動型年金作代表；傳統型商品以傷害保險與定期壽險作代表。本研究使用現金流量分析法，透過壓力測試和敏感度分析，嘗試在不同情境下，尋找一個規律，並簡易設算銀行保險通路下主力商品之最適銷售比例。 模擬結果發現，傳統型商品可有效彌補儲蓄型商品帶來的風險；而銷售比例之訂定，應該依照壽險公司在不同壓力測試、可控制之利差之下，設算出最適可銷售比例；只要壽險公司將其資本額大小、預計總保費收入、預計銷售商品、宣告利率策略及各項利率關係在不同情境下作設算，即可求出在不發生盈餘虧損下，商品組合之最適銷售比例。 另外本研究也發現，傷害保險與利率變動型年金保險之替代效果，比定期壽險與利率變動型年金保險佳，因此可作為商品組合搭配之參考。 本研究貢獻在於透過簡易的測試，設算出實際數值，可望提供壽險公司在資產負債管理方面的新思維。 / In recent year, baccasurance has become one of the major channels for life insurance companies. Therefore, adding up the risk the baccasurance channel imposes, life insurance companies has undertaken heavier risks. Due to the fact that the interest rate has been comparably low for the last ten years, more and more consumers choose to buy deposit insurance (EX：interest sensitive annuity ) the substitute for periodic deposit. As the vital product in baccasurance channel, managing the risk of deposit insurance become more and more important. This study adopted the idea of mixing products to achieve complementary effect, so that the risks might be better managed. Interest Sensitive Annuity was chosen to represent deposit-oriented products, and Injury Insurance and Periodical Annuity Life Insurance to represent traditional commodities. The method used for analysis was Cash Flow Test, in which stress test and sensitivity analysis were included, through which the researcher attempted to induce a rule from various situations and compute out the optimum ratio of the major products on the bancassurance channel. The simulation result showed that traditional insurance products are able to compensate the deposit-oriented insurance, and the maximum percentage this product accounts for should be computed abiding by to controllable interest gain under various kinds of stress tests, for which the companies need to take into account its capital size, total premium, products being promoted, declared interest rate, and interest rates to help simulate all kinds of situations. It is possible to compute out the optimum ratio for the products when the goal surplus more than or equals to zero. In addition, it was also found that injury insurance is a better substitute for interest sensitive annuity insurance than term life insurance. It is suggested that insurance companies to carefully gauge the respective proportion for Periodical Annuity Life Insurance, Injury Insurance, and Interest Sensitive Annuity Insurance. Finally, it is hoped that the numerical number tested out by the current study provides insurance companies a new insight in asset liability management.

台灣的銀行保險於2000年興起，2009年銀行通路初年度保費收入（First Year Premium, FYP）占整體壽險業初年度保費收入的比重達63.15%，首次超越傳統業務員通路，至2012年為止皆維持5成以上，顯示銀行通路對壽險公司的重要性。實務上壽險公司同時會與多家銀行簽訂保險銷售的合作契約，如何確保合作銀行招攬之業務是對公司有益而非反而造成公司虧損，成為壽險公司重要的課題。 　　本研究依據銀行之設立時間、是否由政府持股、是否具金控背景、是否為非商業銀行、資產規模及公司治理結構等特性進行分類，由各類銀行通路招攬之醫療險是否發生短期理賠及短期理賠之總金額判斷其業務品質，並利用logistic迴歸模型及OLS迴歸模型探討合作銀行之特性對銀行保險業務品質之影響。 　　實證結果顯示，1991年以前設立之舊銀行、商業銀行及大資產規模之銀行的短期理賠狀況較少，契約品質較佳。至於銀行是否由政府持股、是否具金控背景及銀行的公司治理結構等因素則對短期理賠並沒有顯著的影響。理賠金額方面，實證結果則顯示所有銀行特性對於理賠金額之影響都是不顯著的，表示被保險人或許會因為投保銀行之特性影響其申請理賠之機率，但不會因銀行之特性影響申請理賠之金額。 / Bancassurance in Taiwan has been developed rapidly since 2000. In 2009, first year premium (FYP) of life insurance from bank channels exceeds FYP from agent channels for the first time. It is clear that bank channels are very important for life insurance companies. Thus, how to maintain the quality of insurance business from every bank channel becomes a big concern for life insurance companies. This study judge the quality of insurance business by observing the conditions of claim of permanent health insurance selling in bank channels, and use logistic regression and OLS regression to analyze the relationship between the characteristics of banks and the quality of bancassurance based on the foundation time of banks, the equity possessions of banks, the assets of banks, the corporate governance structure of banks, and so forth. According to the empirical results, the characteristics of banks affect the probability of short-term claim, but the characteristics of banks do not affect the amount of claim.