在金融商品以公平價值評價之後，投資標的價格的波動將對以金融商品操作為主要業務之一的銀行業造成重大的影響。本企圖以經建會所公布的景氣指標和對策信號及股價指數變動作為銀行管理當局對經濟情勢看法的代理變數，探討他們是否對銀行業對各分類的金融商品買賣決策有影響力。「交易目的投資」與「備供出售金融商品」的公平價值變動對財務報表存有影響，因此另行檢驗此兩者與「持有至到期日投資」之間是否存有互補性關係。 研究發現銀行業在從事金融商品相關投資活動並未以相關經濟預測為主要參考依據，只有對股價變動對交易目的淨現金流量有影響，亦即股價波動劇烈時，銀行業者的投資行為會趨於保守。另外，根據本研究敏感性分析顯示，持有到期之淨現金流量與交易目的與備供出售淨現金流量總和在幾個主要變數間係數方向皆相反，顯示銀行業在投資標的之選擇確實有互補效果。 / After Taiwan Statements of Financial Accounting Standards (TSFAS) No.34 released, price variation of securities brings a great impact on banks, There are two purpose of this study: first, to analyze whether or not the banking industry will base on the business indicators that publicized by Council for Economic Planning and Development (CEPD) and the Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) to adjust the investment tools, and second, to test whether or not the investment classification between Trading, Available-For-Sale(AFS), and Hold-to- Maturity(HTM) have complementary effects. The empirical results suggest that investment decisions do not affect by CEPD’s indices except for TAIEX. When the index of TAIEX increases, the net cashflow of Trading securities tends to be decrease. In additional, the sensitive test shows that between the sum of the net cashflow of Trading and the net cashflow of AFS and the net cash flow of HTM do exist complementary effect.