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    政大機構典藏 > 商學院 > 會計學系 > 學位論文 >  Item 140.119/59254
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/59254


    Title: 減碳投資與環境治理對股票投資報酬之影響- 以亞洲國家為例
    The Association between Carbon Reduction Investment, Environmental Governance and Returns on Stock Investment: The Case of the Asian Industry
    Authors: 邱郁菁
    Contributors: 林良楓
    邱郁菁
    Keywords: 減碳投資
    環境治理
    股票投資報酬
    Date: 2012
    Issue Date: 2013-09-02 15:28:33 (UTC+8)
    Abstract: 近年來,全球許多國家在發展經濟之餘,較過去更為重視環境保護、綠色生態等議題,其中最引人關注者,莫過於「溫室氣體」、「碳排放量」之方面。為了不讓碳排放繼續造成氣候暖化,各國政府已開始商討對策並制定政策等相關措施,而各國企業為因應此潮流而從事各種減碳投資和環境治理。
    而目前亞洲國家對於經濟發展的專注大於減碳投資和環境治理,在此一議題上與歐美國家有很大差異。因此,本研究嘗試分析亞洲企業減碳投資和環境治理與公司股票投資報酬間之關係,研究樣本以參與碳揭露計畫2009及2010年之台灣、香港、日本、南韓及印度等國家,總計386家為研究對象。實證結果顯示短期股票投資報酬與減碳投資和減碳投資平方除非日本地區呈顯著倒U型非線性相關外,其餘樣本都不顯著。環境治理政策在非日本地區和中期股票投資報酬呈顯著正相關;而環境治理行動則是在亞洲地區中期股票投資報酬和非日本地區短期及中期股票投資報酬間有顯著負相關。接者進一步區分有無減碳投資企業進行迴歸分析,本研究結果發現有減碳投資之企業與股票投資報酬間關聯性顯著大於無減碳投資之企業,且兩者在環境治理對股票投資報酬之影響因素上也有很大差異。此外,針對環境敏感性產業對於股票投資報酬之影響,本研究實證顯示亞洲地區環境敏感性產業與中期股票投資報酬呈顯著正相關,日本地區與中期股票投資報酬呈顯著正相關,但是與長期股票投資報酬則呈顯著負相關,非日本地區則無差異。
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    Description: 碩士
    國立政治大學
    會計研究所
    100353043
    101
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0100353043
    Data Type: thesis
    Appears in Collections:[會計學系] 學位論文

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