企業社會責任與財務績效之關聯性-以天下雜誌CSR天下企業公民為研究對象

The Relation Between Corporate Social Responsibility & Financial Performance: Evidence from Taiwan

陳志彥(Chen Chih-Yen)

指導教授 ： 顏錫銘

國立政治大學/商學院/企業管理研究所(MBA學位學程)/碩士(2020年)

https://doi.org/10.6814/NCCU202000693

摘要

本研究主要探討台灣企業之企業社會責任表現是否會對其財務績效產生影響。以2016年-2019年天下雜誌「天下公民企業Top50」作為得獎企業目標樣本，同時也從TEJ台灣經濟新報資料庫選取了台灣其他上市櫃企業以1:2得獎：未得獎之比例做為配對樣本，並以多元迴歸模型去探討企業社會責任與財務績效間的關聯性，研究結果發現，天下雜誌得獎企業在企業社會責任上的相對積極作為對其財務績效確實有顯著的正向助益。
本研究進一步探討了這些天下雜誌得獎企業中，在「四大構面」上的差異作為而得到的差異分數是否造成不同的財務績效表現，此四大構面包含「公司治理」、「企業承諾」、「社會參與」及「環境保護」，本研究以該四項評鑑分數對企業財務績效：每股盈餘進行多元迴歸，而研究結果顯示，「公司治理」及「企業承諾」可以對企業的財務績效帶來顯著且正向的影響，故完整的董事會結構、透明的資訊揭露和對消費者、供應鏈和其他利害關係人的承諾將有效地影響著企業財務表現。

關鍵字

企業社會責任 ； 財務績效 ； 公司治理 ； 企業承諾 ； 社會參與 ； 環境保護

並列摘要

This study examines whether Taiwanese companies' CSR performance has a relationship with their financial performance. The 2016-2019 World Common Wealth magazines "Citizen Enterprise Top 50" winning companies are used as the target sample. At the same time, other listed companies in Taiwan were selected from the TEJ Taiwan Economic Newspaper database to be the non-award-winning sample under the basis of 1:2 ratio that the number of non-award-winning is twice of winning samples, and using multiple regression models to explore the relationship between corporate social responsibility and financial performance. And the results of the study found that the relative positive ambition of award-winning companies does have a significant positive effect on their financial performance.
This research further discusses whether the difference scores obtained by the "four major aspects" of World Common Wealth magazine award-winning companies result in different financial performance. These four major aspects include "corporate governance" and " "Corporate Commitment", "Social Participation" and "Environmental Protection". In this study, the four evaluation scores were used to perform multiple regressions on corporate financial performance: EPS. The research results show that "corporate governance" and "corporate commitment" have a significant and positive impact on the company's financial performance, so a complete board structure, transparent information disclosure, and commitment to consumers, supply chains, and other stakeholders will effectively affect the company's financial performance.

並列關鍵字

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參考文獻

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