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| Title: | 污染還是不污染：風險投資股權與企業環境表現
To pollute or not to pollute: Venture capital ownership and corporate environmental performance |
| Authors: | 邵子杰
Shao, Tzu-Chieh |
| Contributors: | 傅浚映
翁嘉祥
Fu, Jyun-Ying
Weng, Chia-Hsiang
邵子杰
Shao, Tzu-Chieh |
| Keywords: | 中國企業
創投股權
環境表現
獨立董事人數比例
Board independence
Chinese companies
Venture capital ownership
Environmental performance |
| Date: | 2023 |
| Issue Date: | 2023-03-09 18:34:41 (UTC+8) |
| Abstract: | 創投股權對於公司表現有不同的影響，創投可使企業快速發展，但另一方面因創投較看重短期利益，因此會忽視企業其他重要的營運績效。過去研究曾表示創投股權與公司的 CSR 表現呈負面影響。另一方面近年中國持續推動環境政策，讓企業必須更加重視公司的環境表現。但因為創投注重短期利益的特質，本研究認為創投股權可能會對於公司的環境表現有負面影響。本研究以 2010 年至 2015 年上海與深圳交易所上市之 A 股公司為樣本，其環境分數資料從和訊網中所得並且進行迴歸分析，最終得出知結論與假說相同。因此本研究主要有兩大理論貢獻。首先本研究發現創投股權對上市公司的環境表現有負面影響。此外當公司獨立董事人數比例越多時會減弱創投股權對公司環境表現的負面影響。
Venture capital ownership has different impacts on a company`s performance. Venture capital can make the company develop rapidly. But on the other hand, as venture capitalists pay more attention to short-term financial performance, they tend to ignore other important operating performance of the company. Past studies have shown that venture capital ownership has a negative impact on a company`s CSR performance. In recent years, China has continued to promote environmental policies, making companies pay more attention to their environmental performance. However, because venture capitalists focus on short-term financial performance, this study examines whether venture capital ownership may have a negative impact on a company`s environmental performance. In this study, A-share companies listed on the Shanghai and Shenzhen stock exchanges from 2010 to 2015 were used as the research sample, and their environmental score data were obtained from Hexun.com. I conduct regression analysis to examine these hypotheses. I found that my hypotheses are supported. This study has two main contributions. First of all, this study finds that venture capital ownership has a negative impact on the environmental performance of listed companies. In addition, when the proportion of independent directors in a company increases, the negative impact of venture capital ownership on a company`s environmental performance is weakened. |
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| Description: | 碩士
國立政治大學
企業管理研究所(MBA學位學程)
109363011 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0109363011 |
| Data Type: | thesis |
| Appears in Collections: | [企業管理研究所（MBA學位學程）] 學位論文
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