企業社會責任對交易信用影響之研究

企業社會責任的議題在現今社會日趨重要，公司在追求公司營業利益的同時，也要兼顧社會環境的永續發展，但從事企業社會責任活動是否有利於公司價值一直都是文獻關注的焦點。本研究探討企業社會責任與交易信用之間的關係，檢視供應商是否提供投入企業社會責任活動的公司比較寬鬆的交易信用條件。研究結果發現，揭露企業社會責任報告書的公司與交易信用呈現顯著負向關係，代表供應商並不會提供投入企業社會責任較多的公司寬鬆的交易條件。實證結果隱含供應商認為公司從事企業社會責任活動所產生額外的成本及費用，對公司可能造成財務上的壓力，使得供應商傾向收緊交易信用額度。

關鍵字

企業社會責任；交易信用；企業社會責任報告書

並列摘要

Corporate social responsibility (CSR) has become a hot issue recent years. While more and more companies start to involve in CSR activities, it has a long debate on whether the CSR is beneficial to companies. This study examines the relationship between the CSR and trade credit. Specifically, I examine whether the suppliers offer companies involved more CSR activities a higher trade credit than those do not involve CSR activities. Empirical result shows that there is a significantly negative relationship between the CSR activities and the trade credit. I find that firms with CSR report receive a lower trade credit than those without CSR report. This evidence implies that the suppliers recognize the CSR activities as an extra cost and expense for a firm, increasing the financial a firm’s financial loading. As a result, the suppliers would offer less trade credits to firms with CSR report, compared to firms without CSR report.