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| Title: | 企業社會責任與銀行聯貸利差之關聯性
The Relationship between Corporate Social Responsibility and Syndicated Loan Spread |
| Authors: | 劉鎮嘉
Liu, Chen Chia |
| Contributors: | 詹凌菁
劉鎮嘉
Liu, Chen Chia |
| Keywords: | 企業社會責任
聯貸利差
依賴銀行資金
Corporate Social Responsibility
Syndicated Loan Spread
Bank-dependent |
| Date: | 2015 |
| Issue Date: | 2015-07-27 11:19:36 (UTC+8) |
| Abstract: | 本研究以2001年至2012年美國上市公司且向銀行聯貸之企業為樣本，探討企業社會責任評量表現與聯合貸款利息差額之關聯性。本研究發現企業社會責任評量總分越高，其聯貸利差越小。此外，這現象對於較依賴銀行作為資金來源的公司更加明顯。顯示企業社會責任評量表現較好之企業，能提升聲譽及形象、建立銀行之信賴、降低聯貸利息差額；若同時依賴銀行作為資金來源之企業，更能降低聯貸利息差額。另外，本研究進一步拆解企業社會責任評量總分，對組成項目進行迴歸分析，實證結果顯示，企業投入慈善活動及社區參與、僱傭平等、員工關係及權益、產品這四個正面項目，能降低聯貸利差。
This study examines the relationship between corporate social responsibility performance and syndicated loan spread. Based on a sample of companies in the US from 2001 to 2012, I find that companies with higher corporate social responsibility performance have lower syndicated loan spreads. Moreover, the decrease in loan spreads are more pronounced among bank-dependent companies. This suggests that companies with better corporate social responsibility performance can set up their enterprise image and establish bank trust, which would then reduce their cost of debt financing. Besides, by analyzing the components of corporate social responsibility indicators, I find that the reduction in loan spreads is associated with strengths in community, diversity, employee relations, and product. |
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| Description: | 碩士
國立政治大學
會計研究所
102353017 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0102353017 |
| Data Type: | thesis |
| Appears in Collections: | [會計學系] 學位論文
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