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| Title: | 獨立董事對公司重視程度與ESG績效之相關性分析
The relationship between independent directors’ attention and ESG performance |
| Authors: | 汪德翰
Wang, Te-Han |
| Contributors: | 詹凌菁
Chan, Ling-Ching, Ann
汪德翰
Wang, Te-Han |
| Keywords: | 獨立董事
董事關注程度
董事會監督
ESG評級
ESG績效
Independent director
Director attention
Board monitoring
ESG rating
ESG performance |
| Date: | 2024 |
| Issue Date: | 2024-10-04 10:52:22 (UTC+8) |
| Abstract: | 本研究旨在探討獨立董事對公司重視程度與ESG績效之關聯性。根據 Masulis and Mobbs (2014)，擁有多個獨立董事職務者會投注較多的時間與精力於社會聲望較高的公司中，並以公司市場價值作為社會聲望的衡量標準。本文使用ESG綜合評級作為公司ESG績效的代理變數，以2014年至2021年美國S&P 1500公司作為樣本計算獨立董事對公司之重視程度，並與ESG綜合評級進行實證分析。原始回歸模型的實證結果顯示，ESG綜合評級越高的公司，會有更多獨立董事將公司的重視程度分類為高或低，證明獨立董事對公司的重視程度與公司ESG績效呈顯著正相關。此外，運用一階差分模型之額外實證測試結果顯示，當公司ESG綜合評級相較於兩年前上升時，獨立董事對公司重視程度分類為高或低的數量會相較兩年前減少。綜上所述，本研究之模型均證明獨立董事對公司重視程度與ESG績效呈顯著相關。
This study explores the relationship between independent directors’ attention and the ESG performance of companies. According to Masulis and Mobbs (2014), independent directors with multiple directorships dedicate more time and effort to boards of companies with higher social prestige, as measured by market capitalization. In this study, I use the ESG overall rating as a proxy variable for the ESG performance of companies. By calculating the importance of independent directorships and analyze them in conjunction with the ESG overall rating, I apply a sample of the U.S. data from S&P 1500 companies during the period from 2014 to 2021. The empirical results of the original regression model reveal that firms with higher ESG overall ratings are associated with more independent directors who devote either high or low attention to the companies, indicating a positive relationship between independent directors’ attention and the ESG performance of companies. Additionally, the first-difference analysis model suggests that when the ESG overall ratings of companies increase over two consecutive years, fewer independent directors classify these companies as having high or low attention. This further supports the association between independent directors’ attention and the ESG performance of companies. The above results are consistent with the hypothesis I made in this study. |
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| Description: | 碩士
國立政治大學
會計學系
111353105 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0111353105 |
| Data Type: | thesis |
| Appears in Collections: | [會計學系] 學位論文
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