本文旨在探討台灣家庭的主觀和客觀財務脆弱度之影響因子。從 2008 年的金融風暴發生後，全世界便慢慢開始重視起家庭的財務問題以避免類似事件再次發生，然而時至今日學界仍未對於家庭的財務問題有明確的定義或規範，因此本文將依循 Anderloni et al. (2012)文獻中的方法去建構財務脆弱度指數以分析台灣家庭之財務問題。為了解台灣家庭的主觀和客觀財務脆弱度之影響因子，本文使用學術調查研究資料庫中 2008、2010、2012、2014、2016 和 2018 的家庭動態調查資料去評估台灣家戶之財務脆弱度。這些資料中包含許多家庭的特徵和行為，本文將這些資料分類歸納後以主成分分析法去建構客觀和主觀家庭財務脆弱度指數，並以 Fractional Logit Model 和 Ordered Probit Model來分別觀察短期和長期對財務的影響因子。本文研究發現台灣家戶歷年的主觀財務脆弱度大於客觀財務脆弱度指數，兩者之間的差異顯現出台灣社會對於自身財務的過度悲觀和謹慎，另外也發現整體社會客觀財物脆弱度的差距逐漸擴大，但主觀脆弱度度之差距卻在縮小；另外，戶長、孩子、月收入較低、對工作不滿意和男性等變數會使主觀財務較為脆弱，而戶長、孩子、公務員、收入為月收入和家戶大小較大之家戶其客觀財務脆弱度較為脆弱；本文也發現以不同比例之主觀或客觀特徵組成之財務脆弱度指數會因為兩者對於同一自變數之不同影響而產生誤差。綜合以上所述，本文對此提出三點建議以增強台灣整體家庭財務狀況，第一，政府應積極協助民眾尋找收入穩定的工作；第二，家戶應加強自身金融知識；第三，對於主觀和客觀財務脆弱度應有同等理解。

This article evaluates Taiwanese household’s financial vulnerability by using the Panel Study of Family Dynamics ( PSFD ) data from Survey Research Data Archive ( SRDA ). The PSFD are household data that involves human sociology, these data show the characteristics and behaviors of households in Taiwan society, we then use the Principal Component Analysis method to analysis these data and construct the Household Financial Vulnerability Index (FVI) for further analyze. Through the panel data analyze and cross-section data analyze we find that the objective financial vulnerability index is negatively influenced by a more responsible characteristic and that sex, education level and household size all have different kinds of influence on both objective and subjective financial vulnerability index. At the end, we conclude that when it comes to assessing financial vulnerability, we must advert the difference between the objective and subjective approach of financial vulnerability to avoid the error caused when assessing them together.

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