永續金融政策對臺灣銀行業績效之影響

截至2022年6月，全球已有132家金融機構採用「赤道原則」。本國「金融監督管理委員會」銀行局積極鼓勵下，目前已有15家銀行加入「赤道原則」。為探討永續金融政策對臺灣銀行業績效之影響，本論文將股價淨值比、LN總資產及EP_年數等作為變數納入探討。本研究以台灣經濟新報(TEJ)資料庫中2010年8月1日至2019年11月30之股價月資料，針對探討變數進行資料敘述統計、LLC單根檢定、多元迴歸模型及縱橫資料迴歸模型等計量方法來建立實證模型。本文實證的結果顯示：1、多元迴歸模型分析結果解釋銀行參與赤道銀行後，對股價報酬率有顯著正向相關影響、股東權益報酬率(ROE)有顯著正向相關影響、資產報酬率(ROA)有顯著正向相關影響。2、縱橫資料模型迴歸分析結果解釋銀行參與赤道銀行對股價報酬率有顯著的正向相關影響、股東權益報酬率(ROE)有顯著的負向相關影響、資產報酬率(ROA)有顯著的正向相關影響。

關鍵字

赤道原則；臺灣赤道銀行業績效； LLC單根檢定；多元迴歸模型；縱橫資料迴歸模型

並列摘要

Till to June, 2022, 132 financial institutions around the world have adopted the Equator Principles. Under the active encouragement from the Banking Bureau of "Financial Supervision and Administration Commission" of my country, 15 banks have joined the "Equator Principles". In order to probe the influence of sustainable financial policies on the performance of Taiwan's banking industry, this paper includes the price-to-book value ratio, LN total assets and EP_years as variables. In this study, the monthly stock data from August 1, 2010 to November 30, 2019 in the Taiwan Economic Journal (TEJ) database were used to establish an empirical model with measurement approaches such as data descriptive statistics, LLC unit root test, multivariable regression model and panel data regression model for the variables discussed. The empirical results reveal that: 1. The results of the multivariable regression model analysis explain that the bank's participation in Equator Bank has a significant positive correlation effect on stock price return, a significant positive correlation effect on return on equity (ROE), and a significant positive correlation effect on return on assets (ROA). 2. The results of the regression analysis of the panel data model explain that the participation of banks in Equator Bank has a significant positive correlation effect on stock price return, a significant negative correlation effect on return on equity (ROE), and a significant positive correlation effect on return on assets (ROA).