關鍵詞：人口高齡化、銀行信用風險、逾期放款比率、女性董事、公司治理;This study examines the impact of population aging on bank credit risk in Taiwan’s domestic banking industry. In addition， the study incorporates the proportion of female directors， state-owned and non-state-owned banks， as well as financial holding and non-financial holding banks as factors related to corporate governance and organizational structure. The sample period covers 2005 to 2024， and the empirical analysis is conducted using both year fixed effects and bank fixed effects models. The empirical results indicate that population aging exposure is positively associated with bank credit risk， suggesting that banks facing higher aging exposure tend to exhibit higher levels of credit risk. The proportion of female directors shows a significant negative effect only in certain models， while female directors do not exhibit a significant moderating effect on credit risk under the population aging exposure environment. Further analysis reveals that the effect of population aging exposure on bank credit risk differs across banks with different ownership structures and organizational types. Specifically， the results for both state-owned and non-state-owned banks consistently show a significant positive relationship， whereas financial holding and non-financial holding banks present different results. Regarding female directors， a significant positive relationship with credit risk is observed in state-owned banks， while a significant negative relationship is found in non-state-owned banks. In addition， female directors in state-owned banks demonstrate a significant negative moderating effect on credit risk under the population aging exposure environment. When the annual change in credit risk is used as the dependent variable， most core explanatory variables fail to reach statistical significance across models， implying that the effect of population aging exposure on changes in bank credit risk still requires further observation. Overall， the findings support the existence of a positive relationship between population aging and bank credit risk， while also indicating that the effects of population aging exposure and female directors′ governance role vary across different types of banks.
Keywords: Population Aging， Bank Credit Risk， Non-Performing Loan Ratio， Female Directors， Corporate Governance
