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| Title: | ESG評分於美國銀行業經營績效之影響
Impact of ESG Scores on U.S. Banks’ Performance |
| Authors: | 葉兆揚
Yeh, Jhao-Yang |
| Contributors: | 林士貴
Lin, Shih-Kuei
葉兆揚
Yeh, Jhao-Yang |
| Keywords: | 美國銀行業
ESG評分
經營績效
CAMEL
American banking industry
ESG rating
Bank performance
CAMEL |
| Date: | 2023 |
| Issue Date: | 2023-07-06 16:48:35 (UTC+8) |
| Abstract: | 本研究選取 2001 年至 2021 年間美國銀行業為研究對象，深入探討環境、社會和公司治理（ESG）表現對銀行業經營績效的影響。研究設計妥善納入多元固定效應，如年度和州，以確保有效控制不同經濟背景等可能的干擾因素。分析結果揭示，無論在哪種固定效果下，ESG 評分中的環境評分均對銀行業的經營績效產生顯著影響。而在公司治理方面，僅在納入州層級固定效果時，才對銀行業績效產生顯著正向影響。雖然環境議題的投資可能會帶來較高的財務成本，但考慮到社會對環境議題的日益重視，對此方面投資的公司能夠進一步提升其競爭力，使得投資與績效呈現正向關聯。此外，本研究還依據銀行規模大小，分析大型與中小型銀行，大型銀行在環境議題的投資對即時績效可能產生負面影響。然而，眾多企業仍然積極投向永續發展，目光放長，專注於未來的長期利益。他們也致力於維護公司的聲譽和社會地位，以滿足企業社會責任。中小型銀行處於發展的初期，他們在這些領域的投資與績效之間也顯示出正向關聯。綜合上述，本研究提供了各階段銀行業在 ESG 相關投資與績效關係的寶貴見解，對於制定營運策略具有實質參考價值。
This study, taking as its subjects the American banking industry from 2001 to 2021, delves deeply into the effects of Environmental, Social, and Governance (ESG) performance on banking operational performance. The research design duly includes various fixed effects, such as year and state, to ensure effective control of potential confounding factors arising from different economic backgrounds. The analytical outcomes reveal that, regardless of the fixed effect in play, the environmental score within the ESG rating invariably exerts a significant impact on the performance of the banking industry. Concerning corporate governance, a significant positive influence on the performance of the banking industry manifests only when incorporating state-level fixed effects. While investment in environmental issues may entail higher financial costs, given the escalating societal emphasis on environmental issues, companies investing in this area can further bolster their competitiveness, leading to a positive correlation between investment and performance. Furthermore, this study distinguishes between large and small-to-medium-sized banks based on bank size. For large banks, investment in environmental issues may have a negative impact on immediate performance. However, many businesses continue investing actively in sustainable development, with a long-term focus on future benefits. They also strive to maintain the company`s reputation and societal standing, fulfilling their corporate social responsibility. Small-to-medium-sized banks in the early stages of development also demonstrate a positive correlation between their investment in these areas and their performance. In summation, this study provides valuable insights into the relationship between ESG-related investments and performance at different stages of the banking industry, offering substantive reference value for the formulation of operational strategies. |
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| Description: | 碩士
國立政治大學
金融學系
110352032 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0110352032 |
| Data Type: | thesis |
| Appears in Collections: | [金融學系] 學位論文
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