銀行經營效率分為管理效率(X-efficiency)及規模效率(Scale-efficiency)二方面，而國內以往的研究，對於用以衡量經營效率的成本函數中，大多僅包含產出項目與投入要素價格，本研究為使銀行經營效率的衡量更正確，在成本函數中另外加入資產品質與資本結構二個變數。其中，資產品質係以備抵呆帳或催收款替代；而資本結構則是用負債總額為代表。 本研究根據國內外相關文獻，參考國內金融環境的變革、公民營型態的不同、收集民國70年至民國84年上市、上櫃及公開發行計34家商業銀行之相關資料，將樣本做不同的分組，觀察國內商業銀行之經營效率與其本身的資產品質及資本結構之間的關聯性，實證結果如下： 一、以備抵呆帳代表銀行的資產品質時，其與總營業成本之間的關係，隨樣本分組不同而有不同的結果，但大多為正向關係，且達顯著水準。故備抵呆帳與銀行的總營業成本有關，與預期一致。 二、以催收款代表銀行的資產品質時，其與總營業成本之參數估計為負值，此結果與預期不符。故催收款不能代表銀行的資產品質。 三、以負債總額代表銀行的資本結構時，其與總營業成本之間的關係，隨樣本分組不同而有不同的結果，但大多為正向關係，且達顯著水準。故負債總額與銀行的總營業成本有關，與預期一致。 四、在成本函數中新增資產品質與資本結構二個變數後，銀行之X-efficiency管理效率之衡量結果方面，整體上，民營銀行-新銀行最佳，公營銀行次之，而民營銀行-舊銀行最差。 五、在成本函數中新增資產品質與資本結構二個變數後，銀行之Scale-efficiency規模效率之衡量結果方面，整體上，公營銀行優於民營銀行。 / This study examines two different perspectives ofefficiency, X-efficiency and Scale-efficiency, for commercial banks in Taiwan from 1981 to 1995. The primary purpose and contribution of this paper is to investigate the impacts of asset quality and capital structure on the measurement of bank elficiency. We use allowance for doubtful accounts or non-performing loans as the proxy for asset quality. The main findings are as follows: 1. Asset quality, measured by doubtful accounts, affects bank production cost. The results show that banks with larger allowance for doubtfal accounts, i.e. bad asset quality, tend to have higher production costs. 2. The results using non-performing loans as a proxy for asset quality are also consistent with our hypothesis. That is, production costs are generally higher for banks with larger non-performing loans. 3. Capital structure of banks plays a crucial role in their production cost estimates. Due to differential impacts of sources of funds on production function, banks with larger external funds, i.e. liabilities, would incur higher production costs. 4. Our results support that new private banks in Taiwan are generally more X-efficient than public banks. On tile contrary, public banks in Taiwan tend to be more scale-efficient than private banks.

Since local governments in Taiwan were given the power of self governance in 1950, the administrative divisions haven¡¦t been readjusted. After 60-year development, the population distribution and urban modes have totally changed. Without readjustment of the administrative divisions, human resource could not be reasonably deployed, resources wasted, regional development gaps widened and the entire country development was severely influenced. Under the impact of globalization and in response to new development in all aspects, such as politics, economics, society and territory, the governmental system and function have to be re-defined and administrative divisions and organization structure have to be readjusted to build an idealized and high-effective government. In recent years, local self-governing groups around the world also moved on to merging to cope with local fiscal predicament and promote the empowerment of local governing groups to enhance their administrative ability. The academic also comprehend the urgent importance of the merging of urban and rural townships and thus propose different resolution projects and strategies and directions of merging and adjustment. The author managed to sort different literature into supporting theories of merging and foreign cases about the merging of local self-governing groups. Based on the above theories and cases and through data envelopment analysis (DEA), the author simulated different merging programs of urban and rural townships, compared the efficiency before merging and that after merging, and proposed concrete suggestion towards the inefficient self-governing groups. The result showed that the program of merging urban and rural townships could increase the efficiency in every aspect. The conclusion can serve as reference to the future implement of the program of merging urban and rural townships.

Banking industry has been playing a significant role in the process of economic development of Taiwan. There exists an inseparable relationship between its operation quality and the steady growth of national economy. Nevertheless, the drastically increasing numbers of bank in the recent years have caused a vicious competition in this industry. Meanwhile, the global economic recession also leads to the continuous rise of the percentage of nonperforming loans, ever-reducing profit earning as well as the financial chaos and crisis in the banking industry. This study adopts a more reliable efficiency evaluation method------ Data Envelopment Analysis(DEA) to judge the operation performance of banks. Besides, the CCR model and BCC model in DEA (Data Envelopment Analysis) are employed to explore whether the source of low efficiency comes from pure technical efficiency or from scale efficiency. Through slack variable analysis, this study suggests some room of improvement for the input and output of the low-efficiency banks. In view that the percentage of nonperforming loans is one of the essential factors for evaluating the operation performance of banks, this study puts it in the output variable of DEA so as to overcome the paradoxical isotonicity being caused. After verification is made by the study, the results show that it is really workable.

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The purpose of this paper is to quantify the efficiency with which Taiwan universities utilize their teaching and scale resources. The study estimates the cost efficiency of 46 universities over the period 2001-2003 with 5 input and 4 output using data envelopment analysis (DEA). The present study differs from previous cost and efficiency studies of Taiwan universities in three ways. First, it discusses the scale (land square) in the performance. Second, it considers the combination policy of recent year in Taiwan. The last, this paper is using Malmquist index of 3 years data, which is less discussed in Taiwan. The results show that Taiwan universities have a bad performance in the scale efficiency, and land square of universities do effect the performance, but the location in Taiwan does not. And the established year also does not effect the performance. Second, many private universities have better performance in the technical efficiency from VRS DEA, but the newly established universities do not have scale efficiency very well. Third, compare Taiwan universities with the University of Tsukuba, only National Tsing Hua University can contend with.

Abstract After our country joins WTO, will face the strong capital competition pressure of the international large-scale financial institution, and after foreign businessman's bank has grand capital, the industry manages completely dark, in the face of so strong impact country the financial market fluctuates and aggravates, has increased the operation pressure of the domestic banking, too. How to transform this pressure into helping hand, utilize aquistion and merger to consider complementarily , lower costs then improve the competitiveness, it is really the question which the banking of Taiwan needs to face at present. Domestic aquistion and merger case or makes up the financial domain that the financial holding company has already affected 14 financial holding companies in Taiwan to reform with the operation pattern jointly at present, but these financial holding companies can reach the value expected and comprehensive result which is greater than two of one plus one ( Synergy ) The goal needs checking and tests directly. It does not belong to the financial holding company at home to spy on put the independent bank, in case of financial market saturation, the profit shrinks, the income reduces by a wide margin, the quality of the assets is not good, so that is it put rate is it wait for numerous unfavourable factor to remain high to exceed, how face assets huge financial holding company lay big bank create life their extremely, whether it is influenced that purpose calls it and manages the performance; Establish financial holding company purpose is it can reach category economy and purpose of the large-scale production to call separately. Purpose of this research, focus on wanting to untie it under the trend of the international finance, can really improve the bank and manage the performance and business efficiency of independent bank to establish the financial holding company under the double pressure of the domestic trouble and foreign invasion and really not so good as finance holding company bank put. Because of above-mentioned backgrounds and motives, so this text hope book probe into by document, materials collect and utilize materials not to make analytic approach of holding in place with a net ( Data Envelopment Analysis , abbreviated as DEA) ,displaying the result of study, it is by offering competent authorities or the financial holding company policymaker to the government and wanting to set up some reference suggestions of bank of the financial holding company. Keywords: Data Envelopment Analysis , The materials charter and hold analytic approach, technological efficiency, pure technological efficiency, scale efficiency

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Real Estate Investment Trusts (REITs) are firms that own and manage income producing commercial real estate for the benefit of their shareholders. The three studies in this dissertation explore topics relating to best practices of REIT management and portfolio composition. Managers and investors can use the findings herein to aide in analyzing a REIT’s performance and determining optimal investment policies. Utilizing REIT from SNL Real Estate and CRSP, the first two studies examine the role of international diversification upon performance, technical efficiency, and scale efficiency. The third study utilizes REIT data to examine technical and scale efficiency over a 21 year window and investigates characteristics of the REITs that affect the levels of efficiency. CHAPTER 1 – PROFITABILITY OF REAL ESTATE INVESTMENT TRUST INTERNATIONALIZATION Real Estate Investment Trusts (REITs) in the United States have grown extremely fast in terms of assets and market capitalization since the early 1990’s. As with many industries, U.S. REITs began acquiring foreign properties as their size grew and they needed to seek new investment opportunities. This paper investigates the role of holding foreign assets upon the total return of U.S. based REITs from 1995 through 2010. We find that holding foreign properties in associated with negative relative performance when risk, size, and other common market factors are controlled for. Interestingly, the source of the negative performance is not related to the two largest areas for foreign investment, Europe and Canada. Instead, the negative performance is iii detected when a REIT begins acquiring properties in other global regions such as Latin America and Asia/Pacific. This paper has broad ramifications for REIT investors and managers alike. CHAPTER 2 – EFFECT OF INTERNATIONAL DIVERSIFICATION BY U.S. REAL ESTATE INVESTMENT TRUSTS ON COST EFFICIENCY AND SCALE As U.S. based Real Estate Investment Trusts (REITs) have increased their degree and type of holdings overseas, there has yet to a study that has investigated such activity on the REIT’s measures of cost efficiency and scale. Using data from 2010, Data Envelopment Analysis techniques are used to estimate measures of technical and scale efficiency that are then regressed against measures of international diversification and other controls to measure the impact of this global expansion. It is determined that REITs with foreign holdings are significantly larger than domestic REITs and are correspondingly 96% of foreign investing REITs are operating at decreasing returns to scale. Further almost every measure of foreign diversification is negative and significantly impacting scale efficiency. However, simply being a REIT with foreign holdings did positively and significantly associate with higher levels of technical efficiencies. Thus REITs that expand globally may have some advantages in operational efficiency but lose considerably in terms of scale efficiency by increasing their size as they move cross-border. iv CHAPTER 3 – THE EVOLUTION OF TECHNICAL EFFICIENCY AND ECONOMIES OF SCALE OF REAL ESTATE INVESTMENT TRUSTS Data Envelopment Analysis (DEA) is used to measure technical and scale efficiency of 21 years of Real Estate Investment Trust (REIT) data. This is the longest, most complete dataset ever analyzed in the REIT efficiency literature and as such makes a significant contribution as prior efficiency studies’ data windows end in the early 2000’s at latest. Overall, REITs appear to continue to operate at decreasing returns to scale despite rapid growth in total assets. Further, there is some evidence of improving technical efficiency overtime; however the finding is not strong. In summation, it appears that REITs have not improved on a relative basis despite the rapid growth, a finding that suggests a potential of a high degree of firm competition in the REIT industry. Finally, firm characteristics such as debt utilization, management and advisory structure, and property type specialization are tested for their impact upon technical and scale efficiency.

After our country joins WTO, will face the strong capital competition pressure of the international large-scale financial institution, and after foreign businessman's bank has grand capital, the industry manages completely dark, in the face of so strong impact country the financial market fluctuates and aggravates, has increased the operation pressure of the domestic banking, too. How to transform this pressure into helping hand, utilize aquistion and merger to consider complementarily , lower costs then improve the competitiveness, it is really the question which the banking of Taiwan needs to face at present. Domestic aquistion and merger case or makes up the financial domain that the financial holding company has already affected 14 financial holding companies in Taiwan to reform with the operation pattern jointly at present, but these financial holding companies can reach the value expected and comprehensive result which is greater than two of one plus one (Synergy). The goal needs checking and tests directly. It does not belong to the financial holding company at home to spy on put the independent bank, in case of financial market saturation, the profit shrinks, the income reduces by a wide margin, the quality of the assets is not good, so that is it put rate is it wait for numerous unfavourable factor to remain high to exceed, how face assets huge financial holding company lay big bank create life their extremely, whether it is influenced that purpose calls it and manages the performance; Establish financial holding company purpose is it can reach category economy and purpose of the large-scale production to call separately. Purpose of this research, focus on wanting to untie it under the trend of the international finance, can really improve the bank and manage the performance and business efficiency of independent bank to establish the financial holding company under the double pressure of the domestic trouble and foreign invasion and really not so good as finance holding company bank put. Because of above-mentioned backgrounds and motives, so this text hope book probe into by document, materials collect and utilize materials not to make analytic approach of holding in place with a net(Data Envelopment Analysis, DEA), displaying the result of study, it is by offering competent authorities or the financial holding company policymaker to the government and wanting to set up some reference suggestions of bank of the financial holding company.

本研究以臺北縣政府稅捐稽徵處為對象，採用2001-2008年資料，共有56筆樣本資料進行實證研究。應用三階段DEA作為分析模型，以滿足產出多樣、品質差異及產出環境各異之特殊要求。考量稅捐稽徵處特性下，探討其經營效率，提出改善經營效率之政策性建議，以提升有限資源的效率化利用。 臺北縣政府稅捐稽徵處之經營效率值(三階段純技術效率值)評估之結果為1.0186。研究發現，若未摒除稅捐稽徵處所提供服務的不同產出品質，以及受到環境變數之影響，經營效率值將會低估44.16%。此外，若未考量規模效率，經營效率值也會高估18.23%。 實證結果顯示，利用DEA對於本文地方稅分類方式分析，會產生很好的效果。透過本文提供的分類方法，管理機關可獲得較為有效的管理方式。再者，依據隨機邊界法分析、產出投入比與效率值的相關分析等結果，各地方稅的管理單位應可瞭解其擁有資源的優劣勢，以改善其相對無效率或進步緩慢的窘境。 / This research tries to estimate the operational efficiency of Taipei County Revenue Service Office using empirical data from 2001 to 2008. In order to meet the characteristics including various outputs, different output qualities and specific production environments, 3-stage DEA model is chosen and modified for empirical study. The findings of this research may give policy suggestions to improve the operational efficiency. The estimated operational efficiency, the pure technical efficiency in third stage, is 1.0186. The study shows the operational efficiency will be underestimated by 44.16% if output quality variable and production environment variable are ignored. In addition, if scale efficiency is not taken under consideration, the efficiency will be overestimated by 18.23%. Empirical results indicate that DEA is an effective approach applied to the local tax classification model of this study. Furthermore, according to the findings of SFA analysis, output-input ratio and efficiency index, each management unit of local tax could find out its strength and weakness of resources endowment to improve the relative inefficiency and to make progress in the future.