財務會計準則公報第三十四號「金融商品之會計處理準則」於2006年1月1日開始實施，明令銀行業須在財務報表上，以公平價值揭露方式認列金融商品未實現損益。本文主要係以三十四號公報分析銀行業資料，以及銀行業財務報表揭露方式是否可降低投資者的資訊不對稱。
我們利用2001到2010年台灣經濟新報資料庫及中央銀行的銀行業季資料，來檢驗公平價值揭露與資訊不對稱的關係。實證結果發現：
一、三十四號公報實施前，市場風險與資訊不對稱之間有正向關係。
二、三十四號公報的實施會減弱市場風險與資訊不對稱之間的正向關係。
三、衍生性商品無法降低資訊不對稱。

According to the Statement of Financial Accounting Standards (SFAS) NO. 34: “Financial Instruments: Recognition and Measurement”, the Financial Supervisory Commission Executive Yuan has required publicly traded firms to disclose the fair value of their financial instruments, including derivatives, in their financial reports since January 2006. Using Taiwan banks quarterly data from 2001 through 2010, we examine whether the disclosure of fair value reduces investors’ information asymmetry. We find that: 1. market risk is positively related to informational asymmetry before SFAS NO. 34; 2. the positive relation between market risk and informational asymmetry is weakened after SFAS NO.34; 3. derivatives do not reduce informational asymmetry.

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