本研究探討廣告與顧客集中度是否影響企業履行社會責任與公司績效之關聯性,並從正面企業社會責任與負面企業社會責任來考量企業履行社會責任的狀況,衡量變數包含企業社會責任得獎與企業發生負面社會責任事件。研究樣本採用台灣證券交易所公開上市之公司為研究對象,研究期間為2007年至2014年,樣本數共計5358筆。 本文實證結果發現,(1)當企業廣告密集度越高,會強化企業社會責任與公司績效之正向關係,代表顧客藉由廣告意識到公司社會責任行為,顧客會選購公司產品,使得績效上升。(2)當企業顧客集中度越高,會弱化企業社會責任與公司績效為之正向關係,代表企業受到大顧客資源依賴的影響,為了避免流失顧客,企業從事社會責任反而導致企業績效下降。(3)當企業廣告密集度越高,會弱化企業發生負面社會事件與績效之負向關係,代表企業可以藉由廣告傳遞其正面負責的態度給顧客,使得績效上升。(4)當企業顧客集中度越高,會越強化負面社會責任與績效之負向關係,表示企業會受到顧客更嚴厲的要求投入更多資源改善,導致企業績效下降。
This study explores whether the association between corporate social responsibility (CSR) and firm performance is affected by advertising and customer concentration. Dividing CSR into positive CSR and negative CSR, this study examines and measures how CSR is implemented in firms. A sample of 5358 publicly listed companies between 2007 and 2014 is collected from the database of Taiwan Stock Exchange. The four main findings are as follows. First, the higher the advertising intensity, the stronger the positive association between positive CSR and performance. That is, customers who aware of firms’ CSR through advertisements are motivated to make purchases, which in turn enhances firm performance. Second, the higher the customer concentration, the weaker the positive association between positive CSR and performance. Based on the resource dependence theory, firms’ engagement in CSR activities may decrease performance when extra costs are needed to satisfy all stakeholders. Third, the higher the advertising intensity, the weaker the negative association between negative CSR and performance. This suggests that projecting a positive and responsible image through advertisements can increase performance. Finally, the higher the customer concentration, the stronger the negative association between negative CSR and performance. When firms are strictly required by customers to improve CSR by devoting additional resources, performance will decrease.
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