企業社會責任表現與財務績效關聯性研究－以本國金融業爲例

A Study of Investigated the Relationship between CSR and CFP for Financial Industry in Taiwan

李建瑩(Chien-Ying Lee) ； 林麗嬌(Li-Chiao Lin)

《管理學術研討會》 第七屆 (2009/11) Pp. 666-683

https://doi.org/10.29893/NCUTMAN.200911.0666

摘要

在全球金融海嘯衝擊下，美國房貸保證機構「房地美」(Freddie Mac)、「房利美」(Fannie Mac)相繼發生財務危機，世界著名投資銀行「貝爾斯登」、「雷曼兄弟」等應聲倒閉，花旗、AIG等大型金融機構及福特、通用等世界知名汽車廠亦搖搖欲墜。全世界都受金融海嘯的惡夢波及；投資人購買連動債商品、投資股票、共同基金等受到傷害，財富縮水。企業外銷訂單大減，生產線停工，到處出現裁員、減薪、休無薪假的窘境，社會陷入不安的氛圍中。
企業所獲得的利潤，並不單來自於企業經營的結果，而是來自公眾消費及企業所處的環境文化、政治等因素互動的結果。企業如要長期經營，必須要關心其周圍環境的問題，同時，一個能擔負社會責任的企業，才能得到各方的支持，創造更多的利潤。金融業是國民經濟的樞紐，便利工商企業的往來，在國家經濟發展中，具有舉足輕重的地位，在此次金融海嘯後更突顯金融業的企業社會責任與永續經營的價值。
本研究主要探討台灣上市、櫃的十三家金融控股公司爲例，進行實證研究，並將2004年至2008年的各項財務數據及企業社會責任納入，來探討當企業善盡其社會責任時，是否對其企業財務績效有所影響或關聯。藉此能爲台灣金融業提供有價值的參考依據。
經本研究的實證結果顯現，我國金融控股公司履行企業社會責任與淨收益及財務績效變動率有顯著正相關，此結果符合利害關係人理論，即企業對企業社會責任的投入愈多，愈能提高企業形象與聲望進而增加品牌形象與競爭力。在後金融風暴時期，金融業者即使處於金融環境惡劣時期當以企業社會責任視爲一競爭策略，並將企業社會責任政策與企業的核心業務及企業的核心競爭力三者做更好的整合與連結才能深入企業核心，進而提升企業價值與財務績效。

關鍵字

企業社會責任 ； 財務績效 ； 利害關係 ； 人理論

並列摘要

Under the heavy global financial crisis and recession, Fannie Mae and Freddie Mac, two US sponsors Mortgage Investment institutions, were placed into conservatorship by the Federal Housing Finance Agency (FHFA); The Bear Stearns Companies and Lehman Brothers Holdings Inc. declared bankruptcy one after one; the primary financial institutions and auto manufactures: CITI, AIG, Ford and GM, face the difficulties too. Everyone was shocked by this global financial crisis: individuals' net worth shrank by investing Structured Notes and Mutual funds; export orders kept weakening and declined; production lines had more and more stoppages; lay off, pay dock and no-pay leave occurred everywhere all the time.
The profit of a corporate is not only from the operating but also from the result combined and interacted with many factors such as the public consuming, culture and political environment. For continuous operating and supporting, a company has to put more attention on surroundings and to take CSR well. Financial industry, the center of national economic, the bridge of different categories, plays important role in national economic growing. After experienced this financial crisis, public understand the value of corporate social responsibility and continuous operating in financial industry.
The goal of this research is to provide useful reference to the financial industry in Taiwan. By retrieving the data from thirteen finance holding companies in Taiwan, in open market and over-the-counter, also, merging the financial information and social responsibility from year 2004 through 2008, this empirical research discusses the effects and relationship of CSR and CFP while a company takes CSR well.
According to the research result, it does show very high positive relation among taking CSR, growing net income and CFP rate. This conclusion matches the stakeholder theory. That means the more effort a company makes, the higher competitive and goodwill it has. During the post financial crisis, integrating the CSR, core business and major competitive advantage is the most effective strategy to raise the CFP.

並列關鍵字

corporate social responsibility CSR ； corporate financial performance CFP ； stakeholder theory