English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 113656/144643 (79%)
Visitors : 51714351      Online Users : 615
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
    •  Adv. Search
    Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer Goto mobile version


    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/100956


    Title: 企業社會責任與財務積效—臺灣的實證研究
    Other Titles: Corporate Social Responsibility and Financial Performance: Empirical Evidence from Taiwan
    Authors: 張元
    Keywords: 企業社會責任;財務績效
    Corporate Social Responsibility;Financial Performance
    Date: 2009-04
    Issue Date: 2016-08-31 15:34:52 (UTC+8)
    Abstract: 我們以遠見雜誌於2006年公佈的企業社會責任調查為基礎，將衡量企業社會責任績效的三個層面─社區參與、環境保護與財務透明，透過投資組合分析與迴歸分析來評估公司承擔社會責任與財務績效之間的關係。實證結果發現，首先，平均來說，公司的社會責任評分愈高，在評比結果公布後的股票報酬愈低，兩者之間呈現負向關係；第二，公司在不同層面的社會責任行為對於股價報酬的影響具有差異性。第三、透過公司的長期財務資料發現，社會責任評分高的公司其長期平均會計績效相對較佳，但長期平均的股票報酬相對較低，表示社會責任型公司不一定是一個好的投資標的。最後，我們找不到支持社會責任行為可以做為公司績效保險的證據。本文使用各別層面的評比指標可更廣泛地評估社會責任行為對財務績效的影響，改進既有文獻中僅使用單一指標的不足之處。
    Using a set of disaggregated social performance indicators for community participation, environmental protection and financial transparency from the Global Views Monthly, this paper examines the relationship between corporate social responsibility (CSR) and financial performance of 312 listing companies of Taiwan Stock Exchange. The main results show that first, scores on composite social performance indicator are negatively related to stock returns and this relationship cannot be rationalized by multi-factor models for explaining the cross-sectional variation in stock returns. Second, the effects of three disaggregated social performance indicators on stock returns are different among industries. Third, aggregated social performance indicator are positively related to long-term accounting performance but negatively related to long-term market performance, and thus implies that good companies are good in books, but not good investments. Finally, firms with high CSR ratings exhibit larger decline of their financial performance and thus does not support the view that CSR is an insurance of financial performance.
    Relation: 社會科學論叢, 3(1), 57-120
    Journal of Social Sciences
    Data Type: article
    Appears in Collections:[社會科學論叢] 期刊論文

    Files in This Item:

    File Description SizeFormat
    3(1)p57-120.pdf1868KbAdobe PDF2709View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback