本研究採用普通最小平方法 ( Ordinary Least Squares, OLS ) 進行迴歸分析，旨在探討環境、社會與公司治理 ( Environmental, Social, and Governance，以下簡稱ESG ) 構面中，企業社會責任 ( S ) 表現對金融機構所提供借款利率之影響。本研究為體現ESG的長期效益，金融機構之借款利率選用長期借款利率，並使用四項與企業社會責任相關的變數，包括社區支出、員工訓練支出、健康罰鍰，以及總事故發生次數。接著，進一步以研發費用率作為企業技術密集程度之衡量指標，區分成四個級距，探討借款利率在技術密集產業及勞力密集產業下的差異。結果顯示，臺灣金融機構在ESG評估中，對企業社會層面中的社區支出特別重視，且該重視程度對勞力密集型企業的借貸條件產生較顯著之影響，反映出不同產業特性在ESG評估體系中可能存在差異化的效果。

This study uses the Ordinary Least Squares (OLS) regression model for empirical analysis. To examine the relationship between the social pillar of ESG and reflect the long-term benefits, this study adopts the long-term borrowing rate as the dependent variable. Four social-related variables are included as independent variables: community spending, employee training expenses, health-related fines, and the total number of workplace incidents. Furthermore, this study uses the R&D expenditure ratio as a proxy for a firm’s technological intensity, classifying firms into four quartiles to examine differences in borrowing rates between technology-intensive and labor-intensive industries. The empirical results reveal that Taiwanese financial institutions place particular emphasis on community spending when evaluating ESG criteria, and this emphasis has a more pronounced effect on borrowing conditions for labor-intensive firms. These findings suggest that industry characteristics may lead to differentiated effects within ESG assessment frameworks.