The Institutional Investors Evaluate the Event of Bank Adopting The Equator Principles

• Main Authors: Chien-Ting Du, 杜建廷
• Other Authors: Yeun-Wen Chang
• Format: Others
• Language: zh-TW
• Published: 2016
• Online Access: http://ndltd.ncl.edu.tw/handle/g4x74v

碩士 === 國立臺中科技大學 === 財政稅務系租稅管理與理財規劃碩士班 === 104 === 　　This study disscussed on the usefulness of Equator Principles (EP) for institutional investors when making investment decisions. The research compared the effect of Corporate Social Responsibility (CSR) performance and the evaluation of adopting the EP for bank. 　　We used the experimental design method to analyze the 173 institutional investors who had quite investment experience in the northen region of Taiwan.The result of this study were as follow： 　　First, the institution investors generally regarded the usefulness of the EP in the investment decision-making was lower than financial information, governance information and CSR information. Second, when bank’s CSR performance was higher than the average of industry, the institutional investors evaluated the effect of adopting EP or not, there will be no significant difference. Third, when bank’s CSR performance was lower than the average of industry, the institutional investors evaluated the effect of adopting EP was significantly higher than did not adopt EP. This study further found that the institutional investors evaluated higher P/E ratio of bank, which adopted the EP than the bank did not adopt EP.