銀行評價：整合財務績效及金融商品創新、市場競爭力之觀點

This research confers to the internal innovation of banks and then the market power which is the external behavior of banks. To know how the financial innovation and market power affect banks' market value in this keen competition of the financial environment. In the previous study, this discussion about innovation is almost in the manufacturing industry. However, financial innovation, which plays an important role for banks in recent years, bank valuation is gradually pay attention. So this topic is valuable for study in-deep. This research adopts Ohlson's (1995) model and, analyzes explanatory capability extended the book value of the financial statement. We collect panel data set for the period 1997 to 2002 to investigate this debate. Because this data set is short panel data which exists heteroscedasticity, we use bootstrap method to catch more data to overcome the shortcomings. Empirical results show that financial innovation influences the market value of banks statistically insignificant, and then indicate a positive correlation between the market power and the market value of banks. It implies the external ability of banks which has capability enough to explain the market value of banks fully besides banks' book value.