貨幣政策和ESG對銀行績效與風險之影響—以美國銀行業為例

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Please use this identifier to cite or link to this item: https://irlib.pccu.edu.tw/handle/987654321/53737

Title:	貨幣政策和ESG對銀行績效與風險之影響—以美國銀行業為例 The Impact of Monetary Policy and ESG on Bank Performance and Risk : Evidence from the U.S. Banking Industry
Authors:	高千惠 Kao, Chien-Hui
Contributors:	財務金融學系
Keywords:	貨幣政策環境社會治理銀行績效銀行風險 Monetary Policy Environmental Social Governance Bank Performance Bank Risk
Date:	2024
Issue Date:	2024-12-02 13:16:46 (UTC+8)
Abstract:	貨幣政策(Monetary Policy)的變動對銀行績效與風險有著重要的影響；而環境保護(Environmental, E)、社會責任(Social, S)和公司治理(Governance, G)是評估銀行可持續發展的重要指標，其對銀行績效與風險之影響亦備受關注。因此，本研究以美國銀行業為研究對象，研究期間為2014年到2022年，採用縱橫資料(Panel Data)多元迴歸模型探討貨幣政策及環境保護、社會責任、公司治理對美國銀行業績效與風險的影響；並進一步分析貨幣政策的變動與環境保護、社會責任以及公司治理的交互作用是否有助於提升銀行績效，降低銀行風險。實證結果發現，貨幣政策對銀行績效為正向影響，對風險為負向影響。其次，環境保護對銀行績效為負向影響、對風險為正向影響；社會責任對銀行績效不具影響效果、對風險為負向影響；公司治理對銀行績效為正向影響、對風險則不會產生影響。最後，貨幣政策的變動與環境保護、社會責任、公司治理的交叉項對銀行績效不具影響效果；貨幣政策的變動與社會責任的交叉項對銀行風險為正向影響，貨幣政策的變動環境保護、公司治理的交叉項對銀行風險不具影響效果。 Monetary policy changes have significant impacts on bank performance and risk. At the same time, Environmental protection, Social responsibility, and Corporate governance are critical indicators for assessing the sustainable development of banks and have garnered considerable attention for their effects on bank performance and risk. Therefore, this study focuses on the U.S. banking industry from 2014 to 2022, employing a panel data regression model to investigate the effects of monetary policy, environmental protection, social responsibility, and corporate governance on the performance and risk of U.S. banks. Additionally, it explores whether the interaction between monetary policy changes and environmental protection, social responsibility, and corporate governance can help enhance bank performance and reduce bank risk. The empirical results reveal that monetary policy positively impacts bank performance and negatively affects bank risk. Furthermore, Environmental protection negatively impacts bank performance and positively influences bank risk; Social responsibility has no significant effect on bank performance but negatively impacts bank risk; Corporate governance positively affects bank performance and has no significant effect on bank risk. Finally, the interaction terms between monetary policy changes and Environmental protection, Social responsibility, and Corporate governance show no significant effect on bank performance. The interaction between monetary policy changes and Social responsibility positively impacts bank risk, while the interactions between monetary policy changes and Environmental protection and Corporate governance have no significant effect on bank risk.
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