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| Title: | ESG與公司價值：財務績效調節效果之探討
ESG Performance and Firm value: The Moderating Effect of Financial Performance |
| Authors: | 陳之敏
Chen, Chih-Min |
| Contributors: | 林宛瑩
陳之敏
Chen, Chih-Min |
| Keywords: | 環境社會治理績效
公司價值
財務績效
ESG performance
Firm value
Financial performance |
| Date: | 2024 |
| Issue Date: | 2024-08-05 12:22:36 (UTC+8) |
| Abstract: | 面對著全球暖化、COVID-19以及國際衝突等問題，投資人除了將企業的財務表現作為選擇投資標的時的指標外，亦開始將公司的環境、社會、治理(ESG)表現作為投資決策的重要考量因素。本研究以2018年至2022年臺灣上市(櫃)公司為研究對象，探討公司ESG表現與公司價值間是否存在關聯性，並探討公司ESG表現與公司價值之關聯性是否會受到財務表現影響。
本研究之實證結果顯示：公司的ESG表現與公司價值間存在顯著正向之關係，亦即公司的ESG表現愈佳，公司價值愈高，支持利害關係人理論。本研究亦發現，財務績效對ESG表現與公司價值之關聯性具有調節效果，財務績效佳之公司，其ESG表現對公司價值之關聯性較強。
Confronted with global warming, COVID-19, and international conflicts, investors have started to consider a company's Environmental, Social, and Governance (ESG) performance as an important factor in their investment decisions, in addition to the company's financial performance. This study examines whether there is a correlation between ESG performance and firm value for listed companies in Taiwan over the period of 2018 to 2022, and whether this correlation is influenced by financial performance.
The empirical results indicate a significant and positive relationship between a company's ESG performance and its firm value. In other words, better ESG performance is associated with higher firm value which is in accordant with the stakeholder theory. The study also finds that financial performance moderates the relationship between ESG performance and firm value. In specific, companies with stronger financial performance show a stronger correlation between ESG performance and firm value. |
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| Description: | 碩士
國立政治大學
會計學系
111353043 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0111353043 |
| Data Type: | thesis |
| Appears in Collections: | [會計學系] 學位論文
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