第五章 結論與研究建議
第二節 研究限制及建議
本研究想要探討上市（櫃）公司董監事質押股票之特性與上市櫃銀行績效 的關係，然而，受限於資料庫及資料的取得，無法有逐筆的違約紀錄和逐筆股票 質押貸款的核貸條件（貸款乘數、期限、是否有補交抵押品…等），造成本研究 不能以學術上常用的 Logit 模型來分析造成股票質押放款變成不良放款的因 素，如果能有資料的話，將可以給予銀行在處理股票質押放款時，更加直接的幫 助。
被本研究排除的工業銀行，其放款往往跟隨著投資，如果可以研究其股票 質押授信的狀況，也許可以發現不同於本研究樣本銀行的特性。由資料庫觀察，
票券業者也有從事股票質押的授信業務，也有後續研究的價值。
此外，受限於資料，本研究的質押行為都為上市（櫃）的董監事，沒有一 般人進行股票質押放款的資料，使得本研究無法推估銀行真實的股票質押放款部 位，更有樣本因為上市（櫃）董監事質押的數目過少（少於十比），雖然其有高 的股票質押授信比率，但是本研究還是為了不被極端值影響，而將其刪除。如果 可以取得所有股票質押的資料（包含上市（櫃）董監事及一般人），那麼將可以 使我們的分析更加準確。
最後，本研究研究重心偏重於數字可明確衡量的「可量化」資料，對於數 字無法衡量的「非量化」（質性）資料較少討論，後續研究可以深入探討非量化 的因素，對於質押放款的影響。
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