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| Title: | CEO是否能從經驗中學習？來自ESG風險事件與企業永續表現之實證研究
Do CEOs Learn from Experience? Evidence from ESG Risk Incidents and Firm Sustainability Performance |
| Authors: | 翁柏萱
Weng, Po-Hsuan |
| Contributors: | 邱健嘉
翁柏萱
Weng, Po-Hsuan |
| Keywords: | CEO ESG風險經驗
ESG風險事件
ESG評分
碳排放
CEO ESG Risk Experience
ESG Risk Incidents
ESG Scores
Carbon Emissions |
| Date: | 2025 |
| Issue Date: | 2025-07-01 14:50:57 (UTC+8) |
| Abstract: | 本研究探討CEO過去所經歷的ESG（環境、社會與公司治理）風險事件是否會影響企業的ESG表現。本文利用固定效果之迴歸模型，分析CEO的ESG風險經驗與三項企業層級結果之間的關係，包括：企業發生ESG風險事件的次數、ESG評分，以及碳排放情況。實證結果顯示，具有較多ESG風險經驗的CEO所領導之企業，反而更常發生ESG爭議，顯示經驗的累積未必有助於提升ESG風險管理能力。然而，當CEO過往所面對的ESG風險事件具有高度嚴重性時，則與較高的ESG評分呈現正向關聯，顯示唯有遭遇過重大ESG衝擊之CEO，才較有可能積極投入企業永續策略。相對地，在碳排放方面，研究並未發現ESG經驗與碳排放有穩定的負向關聯，部分結果甚至顯示其與較高的間接碳排放（Scope 2）相關。整體而言，研究結果強調，影響ESG表現的關鍵在於經驗的「質」而非「量」，尤其是過去經驗的嚴重程度。本研究對於高階主管經驗與企業永續績效之關聯提供實證貢獻，亦指出並非所有ESG經驗都會產生相同的效果。
This study investigates whether CEOs' past exposure to ESG (Environmental, Social, and Governance) risk incidents influence corporate ESG outcomes. Using a fixed-effects panel regression model, I examine the relationship between CEO ESG risk experience and three firm-level outcomes: ESG risk incidents, ESG scores, and carbon emissions. Our findings show that CEOs with more ESG risk experience tend to lead firms with a higher frequency of ESG incidents, suggesting that experience does not necessarily improve ESG risk management. However, only exposure to highly severe ESG incidents is positively associated with higher ESG scores, indicating that extreme ESG challenges may lead to greater engagement with sustainability efforts. In contrast, there is no consistent evidence that ESG experience leads to lower carbon emissions; in some cases, it is linked to higher Scope 2 emissions. These results highlight that the quality of experience—particularly the severity of past ESG incidents—plays a critical role in influencing ESG-related corporate outcomes. This study contributes to the literature on executive experience and corporate sustainability by emphasizing that not all ESG experiences produce the same effects. |
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| Description: | 碩士
國立政治大學
財務管理學系
112357019 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0112357019 |
| Data Type: | thesis |
| Appears in Collections: | [財務管理學系] 學位論文
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