銀行放款品質不僅為金融監理機關所關切，亦為銀行財務報表分析之焦點，財務會計準則公報第三十四號 (SFAS No.34)「金融商品之會計處理準則」於2008年12月4日宣告第三次修訂，增訂原始產生之放款及應收款應納入公報規定範圍，希冀強化銀行授信資產品質，再者相對一般產業，透過高度保護管制之銀行業存有較高資訊不對稱程度。本文因此檢視銀行業的放款品質、經營績效與資訊不對稱程度之關聯性，並探討此次公報修訂，是否影響投資人的看法與股票報酬。利用2000第1季至2010年第4季的季別資料，實證放款品質對銀行經營績效與資訊不對稱程度之關聯，結果顯示：一、放款品質與銀行經營績效呈顯著的正向關聯性；二、銀行資訊不對稱程度越低，放款品質越好；三、放款品質良好且資訊不對稱相對較低之銀行，股票報酬受到公報修訂沖擊之影響較小。 Bank loan quality is not only concerned by the financial supervision authority, but also a focus of bank financial statements analysis. The third amendment to SFAS No.34 – Accounting for Financial Instruments that was announced on December 4, 2008 inducted initial loans and receivables into the regulatory scope hoped to strengthen credit and loan qualities of banks. Furthermore, there are high degrees of information asymmetry in the banking industry, which has been highly protected and regulated, rather than others. Thereby, this study tests the relationship between loan quality, performance, and level of information asymmetry in the banking industry; in addition we investigate whether or not the amendment affects investors’ opinion and stock returns. Using data spanning the first quarter of 2000 to the fourth quarter of 2010, we examine the influence of loan quality on bank performance and information asymmetry. The empirical results show that performance under the new amendment is positively related with both loan quality and information asymmetry in the banking industry. Second, the lower the degree of information asymmetry, better the loan quality. Finally, good loan quality and low degrees of information asymmetry in the banking industry, stock return is not affected seriously under the third amendment to SFAS No. 34.
