綠色價值鏈管理、碳排放與企業績效

基於全球化發展影響，溫室效應及環境污染議題也越加備受政府關注，企業為符合法令規定及提升企業形象，將朝向綠色管理的經營模式。而供應鏈與價值鏈管理對於企業而言是永續經營的關鍵環節。本研究針對我國上市櫃公司自2014年至2016年所發布之企業社會責任報告書蒐集其碳排放資訊，且分別就其價值鏈活動構面符合綠色定義者進行手工評分，並探討我國上市櫃公司之碳排放量與企業績效之關聯性，再進一步分析我國有實施綠色價值鏈管理之公司的碳排放資訊與其他變數之間的關聯性是否會受到影響。實證結果顯示碳排放量與企業績效呈現負相關，加入綠色價值鏈管理衡量後，碳排放量與公司價值、經濟附加價值之關係部分受到支援活動、主要活動與綠色價值鏈整體構面之影響，轉呈現正向顯著相關。本研究因此推論企業實行綠色價值鏈管理，應可改善其公司績效。而綠色價值鏈管理中之主要活動可改善經濟附加價值受到碳排放量的負面影響。

關鍵字

綠色價值鏈管理；碳排放量；企業績效；經濟附加價值

並列摘要

Based on the fact that the globalization has affected the economic and commercial trade exchanges between countries more frequently, the issue of greenhouse effect and environmental pollution has also become increasingly concerned by the government. In order to meet the requirements of laws and regulations and enhance corporate impression, enterprises will move toward the green management business model. Also, the supply chain and value chain management is the key to sustainable development for enterprises. This research will collect the carbon emission information from the social reports published by the enterprises in Taiwan and evaluate the activity structure of company's value chain which meet the green definition. Then, we discuss the relationship between the carbon emission information and corporate performance and further analyze whether the correlation between carbon emission information and other variables of companies with green value chain management in Taiwan will be affected. The empirical results show that carbon emissions are negatively correlated with corporate performance. After being measured by green value chain management, the relationship between carbon emissions and Tobin's Q and EVA is partly affected by support activities, main activities and the overall facet of green value chains. This study therefore concludes that companies should implement green value chain management and improve their Tobin's Q. The main activities in green value chain management can improve EVA by the negative impact of carbon emissions.