企業社會責任報告書之確信效果對公司價值的影響

本研究探討企業CSR報告書的編製原因（自願/強制）、認證與否（是/否）、認證單位（四大/非四大）及認證種類（嚴謹/寬鬆）對公司價值的影響，以2014年至2019年出具CSR報告書的台灣上市櫃公司為研究樣本，並剔除金融相關行業及數據資料上有缺漏或無法計算之資料，篩選出的有效樣本數為實證模型一4,384筆，實證模型二2,078筆。實證結果顯示：(1)企業自願編製CSR報告書與公司價值呈正向顯著關係；(2)經過認證的CSR報告書與公司價值呈正向顯著關係；(3)在CSR報告書經過認證的情況下，經過四大會計師事務所認證的報告書會與公司價值呈正向顯著關係；(4)在CSR報告書經過認證的情況下，採用嚴謹的認證方式與公司價值間的效果並不顯著，推測可能是因為分類過於粗略所導致，故進一步拆成三種情況（AA1000 Type 2、ISAE 3000和確信準則公報第1號）分別探討，並以AA1000 Type 1為基準，研究發現當企業的CSR報告書採用認證嚴謹的確信準則公報第1號時具顯著性，可能因為此種認證種類由台灣會計研究發展基金會所發布的，更為符合台灣企業所採用，透過以上實證結果，提供實務界更深入了解CSR報告書，並提供未來企業在編製CSR報告書時做為參考。

關鍵字

企業社會責任；企業社會責任報告書；公司價值

並列摘要

This research investigates the impact of the preparation of CSR report (voluntary/mandatory), assurance of CSR report (yes/no), unit of assurance of CSR report (big four/non-big four), and type of assurance of CSR report (rigorous/loose) on the firm value. Using the sample of Taiwanese listed companies with CSR report from 2014 to 2019, and excluding financial-related industries’ data and data with missing or uncalculated. The number of valid samples is 4,384 for empirical model 1, and 2,078 for empirical model 2. The empirical results found: (1) Company who prepared a CSR report voluntarily has a positive significant relationship with firm value. (2) The assured CSR report has a positive significant relationship with firm value. (3) The assured CSR report which assured by the Big Four has a positive significant relationship with firm value. (4) The assured CSR report which used rigorous assurance has not a significant relationship with firm value. It’s speculated that it may be caused by the classification is too rough, so we further divided into three cases (AA1000 Type 2, ISAE 3000 and ASSURANCE NO.1) to discuss, and based on AA1000 Type 1. The results found it is significant when the company’s CSR report adopts the rigorous ASSURANCE NO.1. Because this type of assurance was issued by Taiwan’s Accounting Research and Development Foundation, which is more in line with Taiwanese companies. Through the empirical results, it provided the practitioners have a deeper understanding of the CSR report, and provided companies as a reference when preparing the CSR report in the future.