隨著數位轉型與金融科技發展日益加速，銀行經營模式正由傳統資源導向逐步轉向數位資本與能力導向。在此趨勢下，銀行如何將經營成果有效轉化為數位資本與數位能力，並進一步影響整體經營效率，成為重要研究議題。本研究以台灣22家銀行為研究對象，運用動態兩階段串聯網絡SBM-DEA模型，整合經營績效與數位資本形成兩個階段，並引入固定資產作為跨期變數，評估2020年至2024年間各銀行之整體效率與分階段效率表現。
研究結果顯示，多數銀行於第一階段經營績效表現相對穩定，惟第二階段數位資本轉化效率普遍偏低，顯示銀行在將經營成果轉化為數位資本與能力之過程中仍存在結構性限制。此外，實證結果亦發現，總效率於研究後期呈現下滑趨勢，且銀行間效率差距逐漸擴大。進一步分析顯示，效率差異主要來自轉化階段，而非經營端不足，顯示數位資本轉化效率為影響整體效率之關鍵因素。值得注意的是，即使投入與產出持續成長，若轉化機制未能同步提升，仍難以有效提升整體效率表現。
綜合而言，本研究將數位資本與能力形成納入銀行生產過程，補充既有文獻對經營成果轉化機制之不足，並提供銀行在數位轉型與資源配置上的實證參考，亦可作為監理機關制定相關政策之依據。

As digital transformation and financial technology development accelerate at an unprecedented pace, the operational model of banking is shifting from traditional resource-oriented approaches toward digital capital and capability-oriented frameworks. Against this backdrop, how banks can effectively convert their operational performance into digital capital and capabilities—and how this conversion further influences overall operational efficiency—has emerged as a critical research question. This study examines 22 commercial banks in Taiwan, employing a dynamic two-stage serial network SBM-DEA model that integrates operational performance and digital capital formation across two stages, with net fixed assets incorporated as a carry-over variable. The analysis evaluates overall efficiency and stage-specific efficiency from 2020 to 2024. The empirical results reveal that most banks demonstrated relatively stable performance in Stage 1 (operational performance), whereas the efficiency of Stage 2 (digital capital conversion) was generally low, suggesting persistent structural constraints in banks' ability to transform operational outcomes into digital capital and capabilities. Furthermore, overall efficiency exhibited a declining trend in the latter part of the study period, with increasing efficiency disparities across banks. Additional analysis indicates that efficiency differences originate primarily from the conversion stage rather than from inadequacies in operational inputs, confirming that digital capital conversion efficiency is the critical determinant of overall efficiency. Notably, even when inputs and outputs continue to grow, overall efficiency cannot be effectively improved unless the conversion mechanism advances in parallel. In sum, this study integrates digital capital and capability formation into the banking production process, thereby addressing a gap in the existing literature regarding the mechanisms through which operational outcomes are transformed. The findings offer empirical references for banks in the areas of digital transformation and resource allocation, and can serve as a basis for regulators in formulating relevant policies.

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