課程大綱

課程資訊

課程名稱	金融機構與市場 Financial Institutions and Markets
開課學期	101-1
授課對象	財務金融學研究所
授課教師	沈中華
課號	Fin7030
課程識別碼	723 M5200
班次	01
學分	3
全/半年	半年
必/選修	選修
上課時間	星期一6,7,8(13:20~16:20)
上課地點	管一405
備註	本課程中文授課,使用英文教科書。主修財金組必選。限碩士班以上總人數上限：60人外系人數限制：10人
Ceiba 課程網頁	http://ceiba.ntu.edu.tw/1011FIM
課程簡介影片
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課程概述	課程進度表放置於大綱內容附件中，依進度隨時調整更新，請同學至網頁下載! Course Objective: This course explores the two major questions above. To provide the basic and intermediate background regarding bank and FHC issues. Students are expected to learn knowledge on the two major subjects and make good preparation for the advanced courses. It is also important for students to understand that those objects are connected to each other in the real business world.
課程目標	Course Objective: This course explores the two major questions above. To provide the basic and intermediate background regarding bank and FHC issues. Students are expected to learn knowledge on the two major subjects and make good preparation for the advanced courses. It is also important for students to understand that those objects are connected to each other in the real business world.
課程要求	Grading Our grade is simple: a midterm exam (35~45%), presentations (25~35%), pop quiz (5~10%), and Participation (5~10%). For midterm exam, it is a closed-book exam. We discs format of the questions in each course. Next, grading presentation is uneasy and even tricky because it is a relative concept. Some presentations are extremely good and some are relatively weak. Even it is a group presentation, each member in the group needs to present his work around ten minutes. You get your personal score and group score. There is no chance for free riders. My experience is that students typically underestimate its importance and overestimate the score they will get. Thus, I stress that it is a relatively concept. Even though you think your presentation is extremely good, you may not get A+++ because theirs is even better. After the presentation, you need to hand one power point and one term paper. Third, pop quiz is very easy. In the class, I will ask you a very short question which is just discussed during my lecture. It is an open-book test and is designed to help you to grasp the materials immediately. In fact, it is the bonus of attending the class. You should get full score of it. Finally, we can never downgrade the importance of the class participation. It will account for 5~10% of your grade. Most of the time, everyone obtain 85% of it because I cannot tell your from others’ participation. However, if you constantly discuss with me in the class (with smiling face), your score will immediately rise up to 99%. While we all know that it is subjective, the subjective evaluation happens in our daily life. Thus, let us not pretend that it does not exit. Also, let us practice it before we go to the real world.
預期每週課後學習時數
Office Hours
指定閱讀	• Introduction to Balance sheet of Banking • Introduction to BS and IS in banking, Shen • Introduction to Equity and CAR, Shen Introduction to Basel II, External and Internal Ratings, and Macroeconomics, Shen • The role of rating agency assessments in less developed countries: Impact of the proposed Basel guidelines. (Giovanni Ferri, Li-Gang Liu, and Giovanni Majnoni), JBF • Credit Risk and KMV. Shen Shen和林公韻 (2005) 違約機率預測與極端值－Robust Logistic Regression，台灣財務金融季刊 (TSSCI), 13(3), 1-32 • Can Banks do business in different Nonfinancial industry? Taiwan Bank Law, No 74 • Do Regulations Affect Banking Performance? Government Governance May Matter, Shen and Yuen-Hsiang Chang (2006) Contemporary Economic Policy(SSCI), 24 (1), 92-105 • Diversification in Banking: Is Noninterest Income the Answer? How do banks make money? The fallacies of fee income, Robert De Young and Tara Rice, FED Chicago, 4Q/2004, Economic Perspectives • Bank Loan Loss Provision: A reexamination of capital Management, earnings magenta and signal effects, Amhed, Takeda and Thoms, 1998 Joint Tests of Signaling and Income Smoothing through Bank Loan Loss Provisions • Basic concept of EM • Investor protection, prospect theory and earnings management, JBF, Shen and Chih, 2006 • An Empirical Comparison on Earnings Management between Banks and Non-Bank Firms around the World, Chih, Chi and Shen Is the Effect of Earnings Management Neutral on the Bank Cost of Debt? —The Credit Rating Approach—, Shen and Huang • Introduction to Taiwan Second Financial Reform • Competition, concentration and their relationship: an empirical analysis of the banking industry Jacob A. Bikker and Katharina Haaf, Journal of banking and finance (2002) • The profit Structure relationship in banking: tests of market power and efficient structure hypothesis, Berger, JMCB, 1995 404 • Privatization, Competition, and Super competition in the Mexican Commercial Banking System • 沈中華 and 呂美慧，本國銀行業逐年的競爭程度及其變化之分析證券市場發展季刊 (TSSCI)，第十八卷第三期Loan Loss Provision --------midterm-------- • Investor Protection, Prospect Theory, Earnings management; Shen and Chih • ____ and C. C. Lee (2006) Same Financial Development Yet Different Economic Growth－Why？Journal of Money, Credit, and Banking (SSCI), 38, number 7, 1907-1944 • Cash Flow Right VS Voting Rights, Pledged Ratio • 更早期預警模型: 台灣銀行道德指標的建立及影響 Journal of Management, 2004 • The separation of ownership and control in East Asian corporations, JFE, 2000, 81-112; Claessens, Djankov and Lang • The entry and the activity level of foreign banks in Italy: an analysis of the determinants, Magri, Mori and Rossi, 2005, JBF • Foreign affiliates of the world largest financial groups: locations and governance, Review in International Business and Finance, 2006, Outreville • 購併分析.(Chung-Hua Shen, Handout) • 購併定價實例─兆豐金控：交銀與中興票券購併分析. (Chung-Hua Shen, Handout) • Cross-Border Bank Mergers: What Lures the Rare Animal? (Claudia M. Buch and Gayle L. Delong) • Do takeovers create value? A residual in come approach on UK data, Bild, Guest, Cosh and Runsten, 2002 • Where do Bank Expand Abroad? An Empirical Analysis, Focarelli and Pozzolo, The Economics of bank Privatization, Megginson, 2005 • Do Privatized Banks in middle- and low-income countries perform better than rival banks? An intra-industry analysis of bank privatization other Cross-Listing • The Geographic of Cross-Listing, why do companies list abroad? Pagano, Roell, Journal of Finance • What makes stock exchanged succeed? Evidence from cross listing decisions Pagano, Randel, Rodell and Zechner; EER • Oversea Listing decision, new evidence of proximity preference, review of financial statistics, 2004, Sarkissian and Schill Bank-based and Market-based Financial Systems: Cross-Country Comparisons, Asli Demirguc-Kunt and Ross Levine • Students presentation • Students presentation
參考書目	Relevant Textbook 1. 中文references: Financial Market (沈中華, HsinRu:): Ch 12 ~ Ch 15 2. research articles 3. 中文First Class before Financial Market (沈中華, Common wealth publisher) 4. 中文Forty minutes to forecast foreign exchange rate (沈中華, HsinRu publisher)
評量方式 (僅供參考)

課程進度

週次	日期	單元主題
第1週	9/10	syllabus introduction
第2週	9/17	basic and NII and NONII;