強制性揭露企業社會責任報告書對經理人薪酬敏感度的影響

The Impact of the Mandatory Corporate Social Responsibility Report on CEO Pay-Performance Sensitivity

陳奕翰(Yi-Han Chen)

指導教授 ： 黃朝信

中原大學/商學院/會計研究所/碩士(2017年)

https://doi.org/10.6840/cycu201700267

摘要

本研究探討強制性揭露企業社會責任報告書之法規變動，曾獲取與未曾獲取天下公民獎企業對於經理人薪酬敏感度之影響。本研究樣本取自台灣經濟新報資料庫(TEJ)與國內天下雜誌「天下企業公民TOP 100」2012年至2015年台灣上市櫃公司。研究結果顯示，在法規執行前，相較於未曾獲取天下公民獎之企業，曾獲取天下公民獎企業之經理人薪酬敏感度較低；接著在法規變動後，曾獲取天下公民獎企業之經理人薪酬敏感度沒有明顯變化；最後在法規變動後，未曾獲取天下公民獎企業之經理人薪酬敏感度會提升。透過本研究能給予資訊使用者了解因為法規變動而增加資訊揭露與薪酬制度之關聯；並給予企業關於法規變動對績效獎酬制度的影響。

關鍵字

法規變動,企業社會責任,薪酬敏感度

並列摘要

This study examines the impact of mandatory disclosing corporate social responsibility (CSR) report on CEO's pay-performance sensitivity. Firms are divided into two groups. One has better social responsibility (award firms), which is based on the Excellence in Corporate Social Responsibility conducted by CommonWealth Mangazine. Another is the firm that had issued CSR reports but did not get the award (non-award firms). Since the mandatory disclosure is implemented from 2014, the data of Taiwan listed companies from 2012 to 2015 are collected. The result shows that before the mandatory disclosure, the CEO's pay-performance sensitivity does not have significant change for the award firms before and after mandatory disclosure. Finally, the CEO's pay-performance sensitivity has increased for the non-award firms after mandatory disclosure, comparing before the mandatory disclosure. This research enhances the understanding of the relation of CEO's pay-performance sensitivity and disclosure regulatory changes.

並列關鍵字

regulatory changes, corporate social responsibility, pay-performance sensitivity

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