국내 은행합병과 지배·피지배 관계 분석

This paper analyzes the dominating & dominated relationship before and after the Korean bank M&As by using FDH model according to the 3 approaches; productive function approach, intermediate function approach, value-added function approach. Especially, benchmark banks against inefficient banks, and dominating & dominated relationship between efficient banks and inefficient banks are clarified.The empirical main results are as follows. First, dominating(dominated) relationship according to productive function approach shows that Shinhan Bank, Choheung Bank, Hana Bank, Hanil Bank, Pyunghwa Bank, and Hanmi Bank are appeared as dominating banks. Second, results by using intermediate approach indicate that Shinhan Bank, Choheung Bank, and Hanil Bank have the role of dominating banks. Third, according to value-added approach, Shinhan Bank, Housing Bank, Pyunghwa Bank, and Hanmi Bank are appeared as the dominating banks. The different results mainly come from the different input-output sets according to the 3 approaches. The policy implication from this paper is that bank policy planner should introduce the FDH model for enhancing the efficiency of Korean banks with analyzing the dominating and dominated relationship.