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    Title: 氣候相關揭露與保險公司財務績效之關聯性
    The Relation Between Climate-Related Disclosures and the Financial Performance of Insurance Companies
    Authors: 阮盈泓
    Juan, Yin-Hung
    Contributors: 許永明
    Hsu, Yung-Ming
    阮盈泓
    Juan, Yin-Hung
    Keywords: 氣候風險
    氣候相關財務揭露
    財務績效
    保險公司
    Climate risk
    TCFD
    Financial performance
    Insurance companies
    Date: 2025
    Issue Date: 2025-07-01 14:47:37 (UTC+8)
    Abstract: 本研究旨在探討台灣保險業之氣候相關揭露與企業財務績效之間的關聯,從資訊不對稱理論與企業永續經營的視角切入,分析揭露資訊與企業財務績效的關聯。研究方法上,本文採用文字探勘建立氣候揭露相似度指標(Climate-related Disclosure Similarity Score, CCSS),評估企業報告書內容與 TCFD 指引的一致性,並另以報告書中所揭露之風險與機會頻次作為替代指標,透過多元迴歸模型探討氣候相關揭露與保險公司財務績效之關聯。
    實證結果顯示,保險業氣候揭露之完整性與Tobin’s Q之間呈現顯著正向關係,顯示當企業揭露內容越貼近國際標準且具實質內涵,越能提升投資人對其未來風險管理及永續發展的信任,進而提高市場價值。然而,在短期財務績效指標(ROA 與 ROE)方面,則未觀察到氣候相關揭露與財務績效之關聯,該結果亦顯示短期財務績效可能與多項營運策略或其他外部因素有所關聯。此外,僅以揭露項目數量作為衡量揭露程度之方式,亦未能觀察到相關性,顯示此方式可能不足以充分呈現揭露資訊的深度與實質內涵。
    整體而言,本文突顯具品質且具實質性的氣候相關揭露有助於提升保險公司之市場評價,並為未來政策規劃、產業實務與學術研究提供實證基礎與參考依據。
    Reference: 中文參考文獻

    中央研究院資訊科學研究所 CKIP Lab(2023),CKIP Transformers — 語言模型與 NLP 任務工具,取自:https://github.com/ckiplab/ckip-transformers

    李珍穎、陳柏瑾、林怡岑( 2024 ),負面訊息對保險公司業務與財務績效之影響——來自金融監理裁罰實證,核保學報,第31期,頁0–24。

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    TCFD報告書資料來源-產險業
    兆豐產物保險股份有限公司(2023),2022年TCFD報告書,擷取自:https://www.cki.com.tw/Page/index/102(最後瀏覽日:2024年5月10日)
    臺灣產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.tfmi.com.tw/csr(最後瀏覽日:2024年5月10日)
    富邦產物保險股份有限公司(2023),2022年TCFD報告書,擷取自:https://www.fubon.com/insurance/esg/psi.html(最後瀏覽日:2024年5月10日)
    和泰產物保險股份有限公司(2023),2022年TCFD報告書,擷取自:https://www.hotains.com.tw/about/responsibility/climate(最後瀏覽日:2024年5月10日)
    泰安產物保險股份有限公司(2023),2022年TCFD報告書,擷取自:https://www.taian.com.tw/CSR(最後瀏覽日:2024年5月10日)
    明台產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.msig-mingtai.com.tw/?esg=esg-report(最後瀏覽日:2024年5月10日)
    南山產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.nanshanlife.com.tw/public_promotion/subject/ESG/report.html(最後瀏覽日:2024年5月10日)
    第一產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.firstins.com.tw/about/csr/csr-index(最後瀏覽日:2024年5月10日)
    旺旺友聯產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.wwunion.com/?p=16085(最後瀏覽日:2024年5月10日),
    華南產物保險股份有限公司(2023),2022年TCFD報告書,擷取自:https://www.south-china.com.tw/zh-TW/Insurance/Insurance?guid=23062716161531&type=2(最後瀏覽日:2024年5月10日)
    新光產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.skinsurance.com.tw/ski/Doc.aspx?ulD=83.&sID=4723&ST=(最後瀏覽日:2024年5月10日)
    國泰世紀產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.cathay-ins.com.tw/INSPFWeb/esg/about/ssue3.html(最後瀏覽日:2024年5月10日)
    新安東京海上產物保險股份有限公司(2023),2022年TCFD報告書,擷取自:https://www.tmnewa.com.tw/aboutus/socialresponsibility(最後瀏覽日:2024年5月10日)
    中國信託產物保險股份有限公司(2023),2022年TCFD報告書,擷取自:https://ir.ctbcholding.com/c/esg_reports?year=2022(最後瀏覽日:2024年5月10日)
    美商安達產物保險股份有限公司台灣分公司(2023),2022年TCFD報告書,擷取自:https://www.chubb.com/content/dam/chubb-sites/chubb-com/tw-zh/about-chubb/company-overview/documents/pdf/climate20230629.pdf(最後瀏覽日:2024年5月10日)
    法商法國巴黎產物保險股份有限公司台灣分公司(2023),2022年TCFD報告書,擷取自:https://nonlife.cardif.com.tw/zh/a4(最後瀏覽日:2024年5月10日)
    新加坡商美國國際產物保險股份有限公司台灣分公司(2023),2022年TCFD報告書,擷取自:https://www.aig.com.tw/content/dam/aig/apac/taiwan/documents/publicinformation/risk-management/2022.pdf(最後瀏覽日:2024年5月10日)
    中央再保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.centralre.com/content/information/sustainabilityreport.htm(最後瀏覽日:2024年5月10日)


    TCFD報告書資料來源-壽險業
    中央再保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.centralre.com/content/information/sustainabilityreport.htm(最後瀏覽日:2024年5月10日)
    中國信託產物保險股份有限公司(2023),2022年TCFD報告書,擷取自:https://ir.ctbcholding.com/c/esg_reports?year=2022(最後瀏覽日:2024年5月10日)
    兆豐產物保險股份有限公司(2023),2022年TCFD報告書,擷取自:https://www.cki.com.tw/Page/index/102(最後瀏覽日:2024年5月10日)
    第一產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.firstins.com.tw/about/csr/csr-index(最後瀏覽日:2024年5月10日)
    和泰產物保險股份有限公司(2023),2022年TCFD報告書,擷取自:https://www.hotains.com.tw/about/responsibility/climate(最後瀏覽日:2024年5月10日)
    南山產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.nanshanlife.com.tw/public_promotion/subject/ESG/report.html(最後瀏覽日:2024年5月10日)
    國泰世紀產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.cathay-ins.com.tw/INSPFWeb/esg/about/ssue3.html(最後瀏覽日:2024年5月10日)
    富邦產物保險股份有限公司(2023),2022年TCFD報告書,擷取自:https://www.fubon.com/insurance/esg/psi.html(最後瀏覽日:2024年5月10日)
    旺旺友聯產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.wwunion.com/?p=16085(最後瀏覽日:2024年5月10日)
    明台產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.msig-mingtai.com.tw/?esg=esg-report(最後瀏覽日:2024年5月10日)
    南山產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.nanshanlife.com.tw/public_promotion/subject/ESG/report.html(最後瀏覽日:2024年5月10日)
    新安東京海上產物保險股份有限公司(2023),2022年TCFD報告書,擷取自:https://www.tmnewa.com.tw/aboutus/socialresponsibility(最後瀏覽日:2024年5月10日)
    新光產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.skinsurance.com.tw/ski/Doc.aspx?ulD=83.&sID=4723&ST=(最後瀏覽日:2024年5月10日)
    新加坡商美國國際產物保險股份有限公司台灣分公司(2023),2022年TCFD報告書,擷取自:https://www.aig.com.tw/content/dam/aig/apac/taiwan/documents/publicinformation/risk-management/2022.pdf(最後瀏覽日:2024年5月10日)
    泰安產物保險股份有限公司(2023),2022年TCFD報告書,擷取自:https://www.taian.com.tw/CSR(最後瀏覽日:2024年5月10日)
    法商法國巴黎產物保險股份有限公司台灣分公司(2023),2022年TCFD報告書,擷取自:https://nonlife.cardif.com.tw/zh/a4(最後瀏覽日:2024年5月10日)
    美商安達產物保險股份有限公司台灣分公司(2023),2022年TCFD報告書,擷取自:https://www.chubb.com/content/dam/chubb-sites/chubb-com/tw-zh/about-chubb/company-overview/documents/pdf/climate20230629.pdf(最後瀏覽日:2024年5月10日)
    臺灣產物保險股份有限公司(2023),2022年永續報告書,擷取自:https://www.tfmi.com.tw/csr(最後瀏覽日:2024年5月10日)
    華南產物保險股份有限公司(2023),2022年TCFD報告書,擷取自:https://www.south-china.com.tw/zh-TW/Insurance/Insurance?guid=23062716161531&type=2(最後瀏覽日:2024年5月10日)
    Description: 碩士
    國立政治大學
    風險管理與保險學系
    112358024
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0112358024
    Data Type: thesis
    Appears in Collections:[風險管理與保險學系] 學位論文

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