開放銀行為各國最近的重點金融發展項目之一，目的在於讓消費者能享受更便利的服務以及增加金融業的競爭以及創新；而台灣於2019年開始逐步實施開放銀行制度，將開放銀行分成三階段推動：公開資料查詢、消費者資訊查詢、交易面資訊，目前已進行到第二階段且預計將於今年開始實施第三階段。本論文從公司價值面跟收益面進行探討，使用事件研究法探討台灣宣布實施開放銀行制度時對於全體銀行的股價是否有影響以及銀行參與開放銀行前兩階段時是否會對其股價造成影響，然後使用雙重差分(Difference in differences, DID)模型探討銀行參與開放銀行後能否使消費者比較偏好在那些參與銀行存款、借貸，進而增加銀行的收益。最後本論文於研究後從公司價值面了解，銀行參與開放銀行後對銀行的股價不是沒有影響就是會有負面的影響，然後從收益面了解，銀行參與開放銀行第一階段後對放款會有普遍正面的影響以及銀行參與開放銀行第二階段後對存款跟放款都會有普遍正面的影響。

Open banking is one of the key financial development initiatives in various countries, aimed at providing consumers with more convenient services and increased competition and innovation within the financial industry. In Taiwan, the open banking system was gradually implemented starting in 2019, with a three-phase approach: public information inquiry, customer information inquiries, and transaction information inquiry. The implementation has currently progressed to the second phase, with the third phase expected to commence this year. This paper focus on corporate value and profitability aspects. Using event study methodology, the study examines whether the announcement of Taiwan's implementation of an open banking system affects the overall stock prices of the banking industry, and whether participation in the initial two stages of open banking by banks influences their stock prices. Furthermore, the study utilizes the Difference in Differences (DID) model to explore whether bank participation in open banking leads to increased consumer preference for deposit and loan services offered by participating banks, thereby boosting the banks' income. This thesis concludes that, from the perspective of company value, the participation of banks in open banking either has no impact or a negative impact on bank stock prices. However, from the perspective of revenue, it is observed that banks' participation in the first phase of open banking generally has a positive impact on lending, and their participation in the second phase of open banking generally has a positive impact on both deposits and lending.

摘要 I
Abstract II
誌謝辭 III
目錄 IV
圖目錄 V
表目錄 VI
第一章 緒論 1
第一節 研究背景 1
第二節 研究動機與目的 2
第二章 文獻回顧 4
第一節 Fintech相關文獻 4
第二節 開放銀行理論文獻 4
第三節 開放銀行實證文獻 5
第四節 研究方法相關文獻 5
第五節 與文獻的差異跟主要貢獻 6
第三章 研究方法 7
第一節 變數說明與來源 7
第二節 事件研究法 10
第三節 DID模型 12
第四章 研究結果 14
第一節 事件研究法結果 14
第二節 DID模型結果 19
第五章 穩健性檢定 23
第一節 事件研究法 23
第二節 DID模型 25
第六章 結論 28
第一節 結果分析 28
第二節 建議與未來展望 29
參考文獻 31

中文文獻
1.沈中華, & 李建然 (2000)。事件研究法─財務與會計實證研究必備。華泰文化。

英文文獻
1.Babina, T., Buchak, G., & Gornall, W. (2022). Customer Data Access and Fintech Entry:Early Evidence from Open Banking. Stanford University Graduate School of Business Research Paper.
2.Banke, N. K., & Yitayaw, M. K. (2022). Deposit Mobilization and Its Determinants: Evidence from Commercial Banks in Ethiopia. Future Business Journal, 8(1), 1-10.
3.Buchak, G., Matvos, G., Piskorski, T., & Seru, amit. (2018). Fintech, Regulatory Arbitrage, and the Rise of Shadow Banks. Journal of Financial Economics, 130(3), 453–483.
4.Castro, G., & Santos, C. (2010). Bank Interest Rates and Loan Determinants. Banco de Portugal Economic Bulletin, 65-86.
5.Eriemo, N. O. (2014). Macroeconomic Determinants of Bank Deposits in Nigeria. Journal of Economics and Sustainable Development, 5(10), 49–58.
6.Gozman, D., Hedman, J., & Olsen, K. S. (2018). OPEN BANKING: EMERGENT ROLES, RISKS & OPPORTUNITIES. RESEARCH PAPERS, 183.
7.Haron, S., Azmi, W. N. wan, & Shafie, S. (2006). Deposit Determinants of Commercial Banks in Malaysia. Finance India, 20(2), 531–551.
8.He, Z., Huang, J., & Zhou, jidong. (2023). Open Banking: Credit Market Competition When Borrowers Own the Data. Journal of Financial Economics, 147(2), 449–474.
8.Miyajima, H., & Yafeh, Y. (2007). Japan’s Banking Crisis: An Event-Study Perspective. Journal of Banking & Finance, 31(9), 2866–2885.
10.Nam, R. J. (2022). Open Banking and Customer Data Sharing: Implications for Fintech Borrowers. SAFE Working Paper No. 364.
11.O’Hara, M., & Shaw, W. (1990). Deposit Insurance and Wealth Effects: The Value of Being “Too Big to Fail.” The Journal of Finance, 45(5), 1587–1600.
12.Olokoyo, F. O. (2011). Determinants of Commercial Banks’ Lending Behavior in Nigeria. International Journal of Financial Research, 2(2), 61–72.
13.Parlour, C. A., Rajan, U., & Zhu, H. (2022). When FinTech Competes for Payment Flows. The Review of Financial Studies, 35(11), 4985–5024.
14.Preziuso, M., Koefer, F., & Ehrenhard, M. (2023). Open Banking and Inclusive Finance in the European Union: Perspectives from the Dutch Stakeholder Ecosystem. Financial Innovation, 9(1), 111.
15.Rishabh, K. (2022). Can Open Banking Substitute Credit Bureaus? Working Paper.
16.Stefanelli, V., & Manta, F. (2023). Digital Financial Services and Open Banking Innovation: Are Banks Becoming ‘Invisible’? Global Business Review. https://doi.org/10.1177/09721509231151491
17.Ünvan, Y. A., & Yakubu, I. N. (2020). Do Bank-Specific Factors Drive Bank Deposits in Ghana? Journal of Computational and Applied Mathematics, 376(3).

網路資源
1.優利系統 (2019)。創建可信任的銀行體驗。
https://www.app5.unisys.com/library/cmsmail/Annual%20Taiwan%20Event%202019/2.2-2019%20APAC%20BankingInsights%20TRAD%20CHINESE%20TRAN
SLATION.pdf
2.Brodsky, L., & Oakes, L. (2017). Data Sharing and Open Banking. Mckinsey & Company.
https://www.mckinsey.com/industries/financial-services/our-insights/data-sharing-and-open-banking
3.FDATA North America. (2019). Opportunities in Open Banking. https://fdata.global/north-america/wp-content/uploads/sites/3/2019/04/FDATA-Open-Banking-in-North-America-US-version.pdf
4.Srinivas, V., Schoeps, J., & Jain, A. (2021). Executing the Open Banking Strategy in the United States. Deloitte Insights. https://www2.deloitte.com/us/en/insights/industry/financial-services/open-banking-model-strategy-united-states.html