企業社會責任與信用風險評等關聯性之探討-以獨立董事為調節

The Relationship between Corporate Social Responsibility and Credit Rating Index-Using Independent Directors as a Moderator

黃硯(Yen Huang)

指導教授 ： 徐志順

淡江大學/商管學院/會計學系碩士班/碩士(2021年)

https://doi.org/10.6846/TKU.2021.00810

摘要

企業社會責任、信用風險評等以及獨立董事逐年受到社會重視，企業不能只在以追求利潤為目標，必須與社會共榮並創造更多價值，達到取之於社會，用之於社會的精神。本研究以2015年至2019年間上市櫃公司作為研究對象，企業社會責任以上市櫃公司是否編制企業社會責任報告書作為研究對象，共計9,620筆觀察值，排除信用風險評等與財報資料不齊全者共計1,730筆觀察值，探討企業社會責任與信用風險評等之關聯性，以及企業社會責任與信用風險評等之關聯性透過獨立董事為調節。研究結果顯示，企業社會責任與信用風險評等呈顯著正相關；另外企業社會責任與信用風險評等透過獨立董事為調節呈顯著正相關。此外，本研究另將企業社會責任分為自願編制與強制編制兩個面向探討，研究結果顯示，強制編制企業社會責任報告書與信用風險評等呈顯著負相關；另外，再將信用風險評等分成低、中和高度風險，探討企業社會責任與信用風險之低、中和高度風險之關聯性，透過獨立董事為調節，研究結果顯示，企業社會責任與低度風險呈顯著正相關。企業主動推動編製企業社會責任報告書，強化董事會職能，使企業透過獨立董事來推動企業編製企業社會責任報告書，使企業獲得較好的信用風險等分數，代表企業面臨財務風險較低，設立獨立董事更容易使企業編製企業社會責任報告書，而此行為使企業獲得良好的企業形象和聲譽，也會獲得更好的信用風險評等，進而為企業帶來良好的經營績效。

關鍵字

企業社會責任 ； 信用風險評等 ； 獨立董事

並列摘要

Corporate social responsibility, credit risk rating, and independent directors have been valued by the society year by year. This study uses listed companies from 2015 to 2019 as the research object. Corporate social responsibility is based on whether the listed companies have prepared corporate social responsibility reports. There are a total of 9,620 observations. Those with incomplete credit risk ratings and financial report data are excluded. There are a total of 8,206 observations. Discuss that the the relationship between corporate social responsibility and credit rating index-using independent directors as a moderator.
The research results show that (1)Corporate social responsibility and credit risk ratings are significantly positively correlated. (2)In addition, corporate social responsibility and credit risk ratings are significantly positively correlated through independent directors. In addition, this research divides corporate social responsibility into voluntary preparation and compulsory preparation. (3)The research results show that compulsory preparation of corporate social responsibility reports is significantly negatively correlated with credit risk rating evaluation. In addition, credit risk rating evaluation divide the low, medium and high risks into equal parts, and explore the correlation between the low, medium and high risks of corporate social responsibility and credit risk rating, using independent directors as a moderator. (4)The research results show that corporate social responsibility and low-level risks are significantly positively correlated. Companies use independent directors to promote the preparation of corporate social responsibility reports, and improve their credit risk ratings, image and reputation, and bring good business performance to the company.

並列關鍵字

Corporate social responsibility ； Credit risk rating ； Independent Directors

參考文獻

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