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| ???org.dspace.app.webui.jsptag.ItemTag.dcfield??? | Value | Language |
|---|---|---|
| dc.contributor.advisor | 陳聖賢 | zh_TW |
| dc.contributor.advisor | Sheng-Syan Chen | en |
| dc.contributor.author | 黃昱瑄 | zh_TW |
| dc.contributor.author | YU-HSUAN HUANG | en |
| dc.date.accessioned | 2026-02-03T16:20:08Z | - |
| dc.date.available | 2026-02-04 | - |
| dc.date.copyright | 2026-02-03 | - |
| dc.date.issued | 2026 | - |
| dc.date.submitted | 2026-01-26 | - |
| dc.identifier.citation | 中文文獻：
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(2024). Do CSR performance and reporting facilitate access to debt financing in emerging markets? The role of asset structure and firm performance. Review of Accounting and Finance, 23(2), 157–185. Wellalage, N. H., & Kumar, V. (2021). Environmental performance and bank lending: Evidence from unlisted firms. Business Strategy and the Environment, 30(7), 3309–3329. | - |
| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/101444 | - |
| dc.description.abstract | 在全球永續轉型浪潮下，中小企業的 ESG 實踐與融資獲取之互動關係備受關注。本研究整合信號理論、代理成本與資源觀點，利用 2016 至 2024 年臺灣公開發行中小企業數據，深入探討 ESG 表現與銀行借款之間的雙向動態機制。
實證結果顯示，ESG 對中小企業的融資效益並非線性，而是呈顯著「倒 U 型」關係。轉折點前，ESG 發揮信號功能降低資訊不對稱；跨越該點後，則因代理成本疑慮使效益遞減甚至轉負。此外，銀行授信存在「硬資訊剛性」，ESG 表現雖無法替代擔保品要求，但優良者能透過同質性偏好，顯著加深與大型銀行的往來深度。 針對融資後饋效應，研究發現條件性「資源排擠效應」：新增借款會排擠 ESG 後段班企業的永續投入，惟前段班企業展現體制韌性，能有效緩衝償債壓力。本研究結果為中小企業階段性永續策略與銀行差異化授信提供實證依據。 | zh_TW |
| dc.description.abstract | Amidst the global wave of sustainable transformation, the interaction between SMEs' ESG practices and their access to financing is of critical importance. Integrating signaling theory, agency cost theory, and the resource-based view, this study investigates the bidirectional dynamic mechanism between ESG performance and bank lending, utilizing data from publicly listed SMEs in Taiwan from 2016 to 2024.
Empirical results indicate that the financing benefits of ESG for SMEs are non-linear, exhibiting a significant "inverted U-shaped" relationship. Before the turning point, ESG acts as a signal to reduce information asymmetry; beyond it, benefits diminish or turn negative due to agency cost concerns. Furthermore, bank lending exhibits "rigidity in hard information": while ESG performance cannot substitute for collateral requirements, superior ESG significantly enhances relationship depth with large banks through homophily. Regarding the feedback effect of financing, the study reveals a conditional "resource crowding-out effect": new borrowing tends to crowd out sustainable investments for firms with lower ESG performance, whereas top-tier ESG firms demonstrate institutional resilience to effectively buffer against debt pressure. These findings provide empirical evidence for staged sustainable strategies for SMEs and differentiated credit policies for the banking sector. | en |
| dc.description.provenance | Submitted by admin ntu (admin@lib.ntu.edu.tw) on 2026-02-03T16:20:08Z No. of bitstreams: 0 | en |
| dc.description.provenance | Made available in DSpace on 2026-02-03T16:20:08Z (GMT). No. of bitstreams: 0 | en |
| dc.description.tableofcontents | 摘要 i
Abstract ii 目次 iii 圖次 v 表次 vi 第一章 緒論 1 第二章 文獻回顧與假說發展 4 2.1 核心假說一 4 2.2 延伸探索假說 6 2.3 核心假說二 8 2.4 研究貢獻與總結 9 第三章 資料來源與研究方法 11 3.1 資料來源 11 3.2 變數定義 11 3.3 各實證模型之資料與樣本 12 3.4 樣本分組 20 第四章 ESG 表現對次年借款取得的影響 21 4.1 研究設計 21 4.2 統計結果 21 4.3 分組檢定與延伸討論 26 第五章 ESG 表現對次年銀行融資結構特徵的影響 29 5.1 研究設計 29 5.2 統計結果與討論 30 第六章 借款取得對次年 ESG 表現的影響 37 6.1 研究設計 37 6.2 統計結果與討論 38 第七章 穩健性測試 43 7.1 分組依據 43 7.2 H2.1 穩健性測試：擔保品調節 44 7.3 H2.2 穩健性測試：大型銀行往來 47 7.4 H3.2 穩健性測試：借款回饋效果 49 第八章 結論與建議 55 8.1 實證結果總結 55 8.2 理論意涵與學術貢獻 56 8.3 管理意涵與建議 57 8.4 研究限制與未來展望 57 參考文獻 58 | - |
| dc.language.iso | zh_TW | - |
| dc.subject | 中小企業 | - |
| dc.subject | ESG | - |
| dc.subject | 銀行授信 | - |
| dc.subject | 信號理論 | - |
| dc.subject | 資源排擠效應 | - |
| dc.subject | SMEs | - |
| dc.subject | ESG | - |
| dc.subject | Bank Credit | - |
| dc.subject | Signaling Theory | - |
| dc.subject | Resource Crowding-out Effect | - |
| dc.title | ESG 表現與銀行授信對臺灣中小企業的雙向回饋機制 | zh_TW |
| dc.title | The Bidirectional Feedback Mechanism between ESG Performance and Bank Credit: Evidence from Taiwanese SMEs | en |
| dc.type | Thesis | - |
| dc.date.schoolyear | 114-1 | - |
| dc.description.degree | 碩士 | - |
| dc.contributor.oralexamcommittee | 何耕宇;何柏欣 | zh_TW |
| dc.contributor.oralexamcommittee | Keng-Yu Ho;Po-Hsin Ho | en |
| dc.subject.keyword | 中小企業,ESG銀行授信信號理論資源排擠效應 | zh_TW |
| dc.subject.keyword | SMEs,ESGBank CreditSignaling TheoryResource Crowding-out Effect | en |
| dc.relation.page | 62 | - |
| dc.identifier.doi | 10.6342/NTU202600308 | - |
| dc.rights.note | 未授權 | - |
| dc.date.accepted | 2026-01-27 | - |
| dc.contributor.author-college | 管理學院 | - |
| dc.contributor.author-dept | 財務金融學系 | - |
| dc.date.embargo-lift | N/A | - |
| Appears in Collections: | 財務金融學系 | |
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| ntu-114-1.pdf Restricted Access | 5.74 MB | Adobe PDF |
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