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This study uses a stochastic frontier analysis (SFA) model to evaluate the relative cost efficiency of commercial banks in Taiwan in the wake of liberalization. The model is estimated using data made available through Taiwan's Banking Bureau and Financial Supervisory Commission. With data from before and after the 2008 financial crisis, our central result is that banks affiliated with bank holding companies (BHC) have become increasingly more efficient. While unaffiliated banks have generally increased their efficiency, they have not kept pace with respect to efficiency gains. Secondary findings are that, independent of ownership structure, both balance sheet and income statement composition affect efficiency. In particular, bank efficiency increases with growth in loans and capital prices. We also find evidence that labor productivity is a key explanatory factor behind efficiency differences across banks. As a result, a policy recommendation is made that banks invest in maximizing worker productivity. Finally, in addition to the insights gained from this study we contribute to the general literature on both bank efficiency and the use of the SFA model by applying it to new data in a new setting. [ABSTRACT FROM AUTHOR]

This paper investigates the effects of employment protection legislation on the rates of hiring, separation, worker flows, job reallocation, and churning flows for the case of Taiwan. Our empirical identification takes advantage of a reform created by Taiwan's enactment of Labor Standards Law, which has substantially increased the costs of firing, and the implementation of the law's enforcement measures. Moreover, our identification also exploits the fact that the stringency of the law's provisions and the intensity of the law's enforcement vary with establishment size. On the basis of the monthly data at the establishment level for the period 1983-1995, we find that Taiwan's Labor Standards Law and its enforcement measures have dampened labor turnover for medium-sized and large establishments, while that of small establishments was not affected. ( JEL J65, J63, J88) [ABSTRACT FROM AUTHOR]

The average global annual growth rate of digital content products has grown exponentially. This is because of the technology advancement, cost reduction, and availability of the enabling technologies, e.g., digital processing, digital storage, and digital telecommunications. The development of the digital content industry (DCI) requires a strong cultural background, creative ideas, respect of intellectual property rights, and telecommunications infrastructure, which are all dependent on government supportive policies. This study summarizes the government policies, progress, and obstacles in the development of Taiwan's DCI and compares these subjects with other countries, including the United States, EU countries, Japan, and Korea. In this paper, Taiwan's DCI opportunities and challenges will be discussed, and strategies and recommendations will be provided, based on Taiwan's unique resources and competitive advantages. [ABSTRACT FROM AUTHOR]