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| Title: | ESG重大性指標揭露程度與企業信用風險關聯性之探討
The Association between ESG Disclosure and Credit risk |
| Authors: | 張育誠
Chang, Yu-Cheng |
| Contributors: | 林宛瑩
Lin, Wan-Ying
張育誠
Chang, Yu-Cheng |
| Keywords: | 企業社會責任
ESG
信用風險評等
SASB
Corporate social responsibility
ESG
credit rating
SASB |
| Date: | 2022 |
| Issue Date: | 2022-08-01 17:06:53 (UTC+8) |
| Abstract: | 金管會於2020年發布公司治理3.0永續發展藍圖，其中指出企業永續報告之揭露應參考的準則之一為永續會計準則委員會（SASB）所發布，顯示我國對SASB發布之準則及其重大性議題的重視，且目前除了重大性議題外並沒有具體的統一標準來確保各產業之企業揭露具有可比性的資訊。因此，本研究以2018年至2020年為樣本期間，依照SASB發布之重大性議題計算ESG揭露程度，以企業信用風險評等(TCRI)作為企業信用風險之代理變數，探討ESG重大性指標揭露程度與企業信用風險之關聯性。
在控制財務特性及公司治理變數之下，本研究實證結果顯示ESG指標揭露分數與信用風險評等呈現負向關係、ESG指標揭露評等與信用風險評等呈現正向關係、S指標揭露分數與信用風險評等呈現負向關係、S指標揭露評等與信用風險評等呈現正向關係。綜合上述分析結果，信用評等機構在決定公司之信用風險評等時，會評估其是否充分揭露ESG重大性指標及S面向重大性指標。
In 2020, the FSC released the Corporate Governance 3.0 Sustainability Blueprint, which states one of the standards that companies should refer to for sustainability reporting is the Sustainability Accounting Standards Board (SASB). This shows that our country pays attention to the standards issued by the SASB and their materiality issues. There is currently no specific unified standard, other than materiality issue, to ensure that companies in various industries disclose comparable information. Therefore, this study uses 2018 to 2020 as the sample period to calculate the degree of ESG disclosure based on the materiality issues released by SASB, and uses the Taiwan Corporate Credit Risk Index (TCRI) as a proxy variable for corporate credit risk to investigate the correlation between the degree of ESG materiality issues disclosure and credit rating.
After controlling firm-specific and corporate governance factors, the empirical results of this study show that the degree of ESG issues disclosure score has a negative relationship with the credit rating, and the degree of ESG issues disclosure rating has a positive relationship with the credit rating. The degree of S issues disclosure score has a negative relationship with the credit rating, and the degree of S issues disclosure rating has a positive relationship with the credit rating. Based on the above analysis, the credit rating agencies assess whether the ESG materiality issues and S materiality issues are full disclosure when determining a company’s credit rating. |
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| Description: | 碩士
國立政治大學
會計學系
109353018 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0109353018 |
| Data Type: | thesis |
| DOI: | 10.6814/NCCU202201066 |
| Appears in Collections: | [會計學系] 學位論文
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