近年因系統性風險頻傳，ESG議題逐漸受到廣泛關注，而金融控股公司因為持有大量金融資產的原因對於系統性風險更加的敏感，再加上其資產配置的特性，將對整體ESG轉型起到重要的作用。在過去雖然已有銀行因為落實企業社會責任取得了成功，但ESG議題範圍更加廣泛多元，且須耗費大量的財務成本，這可能導致前期的財務績效落後於整體市場，若ESG的預期成效很難被消費者與股東認同的情況下，轉型將會更加困難。但危機就是轉機，過去金融控股公司的產品主要由服務與信任組成，產品因無形性、同質性高，在過去很難透過明顯的差異化來創造獨特的競爭優勢，如今ESG議題的出現有望讓金融控股公司研究顧客對ESG不同構面的重視程度，發展出獨特的ESG策略，讓顧客對落實不同ESG策略的金融控股公司產生獨特的情感連結，建立出不同於其他公司的獨特聲譽。透過ESG進一步影響顧客對其品牌信任與品牌偏好，創造出擁有獨特價值、稀有、難以模仿、不可替代的可持續競爭優勢資源。
本研究採用量化研究方法，研究結果確認金融控股公司可以透過ESG正向影響品牌信任與品牌偏好，並進一步創造可持續競爭優勢。且發現在ESG與品牌偏好的關係中品牌信任具有中介的效果，讓可持續競爭優勢更具不可替代性。最後確認了在資源有限的情況下環境保護(E)、社會責任(S)與公司治理(G)的優先落實順序，與ESG變數中不同構面的同意程度，給予未來期望用ESG創造可持續競爭優勢的金融控股公司一個明確的策略方向。

In recent years, due to the frequent occurrence of systemic risks, ESG issues have gradually attracted widespread attention. Financial holding companies, due to their large holdings of financial assets, are more sensitive to systemic risks. Coupled with the characteristics of their asset allocation, they will play an important role in the overall ESG transformation. Additionally, their asset allocation characteristics play a crucial role in the overall ESG transformation. While some banks have achieved success in implementing corporate social responsibility in the past, the scope of ESG issues is broader and more diverse, requiring significant financial costs. This may result in initial financial performance lagging behind the overall market. If the expected benefits of ESG are not recognized by consumers and shareholders, the transition may be even more challenging. However, crises can be opportunities. In the past, the products of financial holding companies primarily consisted of services and trust, making it difficult to create unique competitive advantages through apparent differentiation. The emergence of ESG issues now offers the potential for financial holding companies to study the varying degrees of importance that customers place on different aspects of ESG and develop unique ESG strategies. This can create unique resonance and emotional connections with customers who appreciate the implementation of different ESG strategies by financial holding companies, establishing a distinct reputation from other companies. Through ESG, further influence on customer trust and brand preference, creating sustainable competitive advantage resources that are unique and value, rare, imperfectly imitable, and sustainability.

This study employs quantitative research methods, confirming that financial holding companies can positively influence brand trust and brand preference through ESG, thereby creating sustainable competitive advantages. The study also finds that brand trust plays an intermediary role in the relationship between ESG and brand preference, making sustainable competitive advantages more sustainability. Finally, the study confirms the priority implementation sequence of environmental protection (E), social responsibility (S), and corporate governance (G) in situations of limited resources, along with the level of agreement on different facets of ESG variables. This provides financial holding companies aiming to create sustainable competitive advantages through ESG with a clear strategic direction for the future.

目錄
目錄	i
圖目錄	ii
表目錄	iii
第一章 緒論	1
第一節 研究背景與動機	1
第二節 研究目的	4
第三節 研究流程	5
第二章 文獻探討	6
第一節 ESG沿革、架構	6
第二節 品牌信任	17
第三節 品牌偏好	20
第四節 台灣ESG風險與金融控股公司現況	25
第五節 金融控股公司透過ESG創造可持續性競爭優勢	27
第三章 研究方法	35
第一節 研究架構	36
第二節 研究假設	36
第三節 變數之操作型定義與衡量問項	37
第四節 研究設計	41
第五節 資料分析方法	42
第四章 資料分析與結果	44
第一節 敘述性統計分析	45
第二節 信度分析	58
第三節 迴歸分析	59
第五章 研究結論與建議	66
第一節 研究發現與結論	66
第二節 管理意涵與建議	70
第三節 研究限制與未來建議	72
參考文獻	73
附錄   正式問卷	77

圖目錄
圖1-1  研究流程圖	5
圖3-1  研究架構圖	36

表目錄
表2-1  PRI定義ESG構面	8
表2-2  FTSE Russell定義ESG構面	9
表2-3  MSCI定義ESG構面	10
表2-4  Armstrong定義ESG構面	12
表2-5  環境保護(E)構面比較	14
表2-6  社會責任(S)構面比較	15
表2-7  公司治理(G)構面比較	16
表2-8  品牌信任定義彙整	19
表2-9  品牌偏好定義彙整	24
表3-1  ESG變數構面及衡量問項	38
表3-2  品牌信任變數構面及衡量問項	40
表3-3  品牌偏好變數衡量問項	41
表3-4  Cronbach's α係數衡量標準	43
表3-5  四步驟中介變數檢定條件	44
表4-1  性別之敘述性統計表	45
表4-2  年齡之敘述性統計表	46
表4-3  教育程度之敘述性統計表	46
表4-4  婚姻狀況之敘述性統計表	47
表4-5  職業類別之敘述性統計表	48
表4-6  可支配所得之敘述性統計表	48
表4-7  居住地區之敘述性統計表	49
表4-8  最常往來的金融控股公司之敘述性統計表	50
表4-9  曾經購買或使用的金融產品之敘述性統計表	51
表4-10 環境保護(E)之敘述性統計表	53
表4-11 社會責任(S)之敘述性統計表	54
表4-12 公司治理(G)之敘述性統計表	56
表4-13 ESG與品牌信任、品牌偏好之相關分析	57
表4-14 本研究信度分析結果	58
表4-15 環境保護(E)與品牌信任迴歸分析表	59
表4-16 社會責任(S)與品牌信任迴歸分析表	60
表4-17 公司治理(G)與品牌信任迴歸分析表	60
表4-18 環境保護(E)與品牌偏好迴歸分析表	61
表4-19 社會責任(S)與品牌偏好迴歸分析表	62
表4-20 公司治理(G)與品牌偏好迴歸分析表	62
表4-21 品牌信任在環境保護(E)對品牌偏好的中介迴歸分析表	63
表4-22 品牌信任在社會責任(S)對品牌偏好的中介迴歸分析表	64
表4-23 品牌信任在公司治理(G)對品牌偏好的中介迴歸分析表	65
表5-1  研究假設結果彙整表	66

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三、網路資料
1.	金融監督管理委員會(2022)。綠色金融行動方案3.0，取自https://www.fsc.gov.tw/websitedowndoc?file=chfsc/202209281336330.pdf&filedisplay=%E7%B6%A0%E8%89%B2%E9%87%91%E8%9E%8D%E8%A1%8C%E5%8B%95%E6%96%B9%E6%A1%883.0.pdf
2.	國發會 (2023) 。中華民國人口推估(2022年至2070年)報告，取自https://ppws.ndc.gov.tw/Download.ashx?u=LzAwMS9VcGxvYWQvNDY0L3JlbGZpbGUvMTAzNDcvNTAvMTMxNmIxMGYtMzUzYS00NDk3LTk2N2YtN2M2MjA5ZjIwNzZmLnBkZg%3d%3d&n=5Lit6I%2bv5rCR5ZyL5Lq65Y%2bj5o6o5LywKDIwMjLlubToh7MyMDcw5bm0KeWgseWRii5wZGY%3d
3.	FTSE Russell (2024) ESG Data Model Methodology 
Retrieve from: https://www.ftserussell.com/data/sustainability-and-esg-data/esg-ratings
4.	United Nations (2004) The Global Compact, Who Cares Wins: Connecting the Financial Markets to a Changing World? Retrieve from: https://documents1.worldbank.org/curated/en/444801491483640669/pdf/113850-BRI-IFC-Breif-whocares-PUBLIC.pdf
5.	United Nations PRI (2021) Principles for Responsible Investment
Retrieve from: https://www.unpri.org/download?ac=10948.