本研究旨在探討台灣銀行業表外業務活動（off-balance sheet activities）對銀行風險的影響，並特別分析不同經濟期間（2008年金融危機前、期間及後）和不同類型銀行（金融控股公司子銀行與非金融控股公司子銀行）之間的差異。研究資料涵蓋2004年至2022年，採用二階段最小平方法（2SLS）和系統一般化動差法（System GMM）進行實證分析。研究結果主要發現如下：第一，金融危機前期間，表外業務活動對破產風險和信用風險並無顯著影響，但對流動性風險有顯著影響，短期內可能改善流動性，但中長期內可能增加壓力。金融控股與非金融控股公司子銀行在風險反應上存在顯著差異。第二，金融危機期間，表外業務活動對破產風險和信用風險仍無顯著影響，但對流動性風險的影響顯著且持續。第三，金融危機後，表外業務活動對破產風險具有顯著影響，短期內風險下降，但隨時間推移影響減弱。對信用風險和流動性風險的影響在短期和長期內顯著降低，反映出不同時間段內銀行對表外業務活動的風險反應策略差異。最後，系統一般化動差法的結果顯示，銀行風險具有顯著的持續性現象。

This research investigates the impact of off-balance sheet activities (OBA) on bank risks in Taiwan, focusing on different economic periods (before, during, and after the 2008 financial crisis) and bank types (subsidiaries of financial versus non-financial holding companies). Using data from 2004 to 2022 and applying Two-Stage Least Squares (2SLS) and System Generalized Method of Moments (System GMM), the findings reveal that before the crisis, OBA does not significantly impact insolvency and credit risks but significantly affects liquidity risk, improving it short term while increasing pressure long term. Notable differences are observed between bank types. During the crisis, OBA shows no significant impact on insolvency and credit risks, but its effect on liquidity risk is persistent. Post-crisis, OBA reduces insolvency risk in the short term, though this effect weakens over time, and it also reduces credit and liquidity risks. The System GMM results indicate that bank risks exhibit significant persistence.

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