本研究以2007年至2014年台灣銀行業之放款資料為樣本,分析銀行是否偏好放款給具企業社會責任的企業,並加入過往研究較少同時考慮的借款人和放款人特性,探究兩者的道德行為相似性是否會影響放款決策。近年來,台灣環境與社會安全意識逐漸高漲,企業公安及食安事件頻傳,例如頂新案和遠雄案。事實上,銀行業能夠在承做放款業務時,透過授信原則影響企業營運方式,此即赤道原則,藉此更進一步影響企業在社會、道德和環境的作為。研究結果指出,雖然本國銀行與外商銀行會降低對具企業社會責任之企業的放款,但這種現象在外商銀行本身也具企業社會責任時將會受到抑制,支持文獻所述當借款人和放款人的道德倫理行為相似時,會有較低的資訊不對稱和較高的信任度。此外,當我們進一步區分放款性質時,相似道德行為產生的抑制效果只出現在短期放款、一般放款和無擔保品放款情況。
This paper investigates whether a firm’s corporate social responsibility is associated with bank lending and considers whether the effect is different when there is similar ethical behavior of banks and firms for the period 2007-2014. Recently, a number of environmental harm and food safety scandals occur in Taiwan in the case of Ting-Hsin International Group and Farglory Group. In fact, banks may affect firms’ activities by adopting Equator Principles which determine and assess environmental and social risk in lending policy. We find that firms’ corporate social responsibility is not concerned by banks’ lending decision so far. However, the effect is decreased when foreign banks with corporate social responsibility lend to the firms with corporate social responsibility. The results support that borrowers and lenders have lower information asymmetry and higher trust when their ethical behavior is similar. Specifically, the oppressive effects exist in short-term lending, general lending and unsecured lending.