公司治理對企業社會責任揭露之影響─以CEO薪酬為中介變項

The Impacts of Corporate Governance on Corporate Social Responsibility Disclosure: Executive Compensation as a Mediator

王苑菱(Yuan-Ling Wang)

指導教授 ： 洪雪卿

淡江大學/商管學院/會計學系碩士班/碩士(2017年)

https://doi.org/10.6846/TKU.2017.00194

摘要

鑒於近年環保意識及利害關係人權益逐漸受到社會大眾關切，強制揭露企業社會責任報告書的相關法規陸續發布，使得公司治理與企業社會責任議題再度成為焦點。本研究主要探討公司治理對企業社會責任揭露之影響，以及高階經理人薪酬是否具有中介效果。以台灣前500大之製造業2014年至2016年間企業社會責任報告書揭露情形為研究對象。實證結果發現大股東持股負向顯著影響企業社會責任之揭露，機構持股則正向顯著影響企業社會責任之揭露，而高階經理人薪酬具有部分中介效果。當機構持股比例提升，透過高階經理人薪酬增加，企業將更願意進行企業社會責任揭露。本研究之貢獻在於同時探討了公司治理、高階經理人薪酬與企業社會責任揭露三者之關係。

關鍵字

公司治理 ； 企業社會責任揭露 ； 高階經理人薪酬 ； 中介效果

並列摘要

The main purpose of this paper is to investigate the relationship between corporate governance and corporate social responsibility disclosure. In recent years, people realize the importance of environmental protection and stakeholder relationship protection. The issue of corporate governance and corporate social responsibility become the focus once again. In light of this, the FSC requires specific enterprises to comply with mandatory disclosure regulations.
In this study, top 500 Taiwan manufacturing companies as research objects, and the data used comes from CSR reports in Taiwan during 2014-2016. Our empirical results found that large stockholders’ shareholding ratio has a significantly negative impact on corporate social responsibility disclosure. Institutional holdings have a significantly positive impact on corporate social responsibility disclosure. The relationship between corporate governance and corporate social responsibility disclosure is partially mediated by executive compensation.
The contribution of this research is to discuss the relationship among corporate governance, executive compensation and corporate social responsibility disclosure.

並列關鍵字

Corporate Governance ； Corporate Social Responsibility Disclosure ； Executive Compensation ； Mediation

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