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| Title: | 台灣上市櫃公司ESG表現對機構投資人持股之影響
The Impact of Taiwan Listed Companies’ ESG Performance on Institutional Ownership |
| Authors: | 林靈
Lin, Ling |
| Contributors: | 林宛瑩
林靈
Lin, Ling |
| Keywords: | ESG
CSR
機構投資人
ESG
CSR
Institutional Investors |
| Date: | 2023 |
| Issue Date: | 2023-08-02 13:23:54 (UTC+8) |
| Abstract: | 注重永續發展已成全球趨勢。藉由推動綠色金融，金融業者可透過將企業之永續表現納入核心業務或投融資政策考量，擴大對低碳經濟、能源轉型、綠色科技等相關產業的投資，同時減少投融資予其他加速全球暖化、氣候變遷的產業，發揮促進企業朝向永續經營發展的影響力。
本研究利用台灣上市櫃公司2015年至2021年之TESG分數和評等，衡量企業之永續表現，探討其與機構投資人持股之關聯性。研究結果顯示，在排除公司法人持股的情況下，企業ESG表現（無論係以ESG等級或分數衡量）與機構投資人持股比例呈顯著正向關係；惟將公司法人持股納入機構投資人持股之衡量後，企業ESG表現與機構投資人持股比例則呈負相關但不顯著。此外，本研究的額外測試結果均與主要實證結果一致。綜合分析結果顯示，非公司法人之機構投資人確會將台灣上市櫃公司之ESG表現納入其持股決策。
Sustainable development has become a global trend. By promoting green finance, financial institutions can incorporate the sustainability performance of companies into their core business or investment and financing policies. This includes expanding investments in low-carbon economy, energy transition, green technology, and other related industries, while reducing investments in industries that contribute to global warming and climate change. This approach harnesses the power to promote sustainable business development.
This study utilizes the TESG scores and ratings of listed companies in Taiwan from 2015 to 2021 to measure their sustainability performance and explore its correlation with institutional investors` shareholdings. The research findings show that, when excluding corporate shareholdings, there is a significant and positive relationship between ESG performance of companies (whether measured by ESG ratings or scores) and the proportion of institutional investors` shareholdings. However, when considering corporate shareholdings along with institutional investors` shareholdings, the correlation between ESG performance and institutional investors` shareholdings becomes negative but not statistically significant. The results of additional tests are consistent with the main empirical findings. The comprehensive analysis indicates that institutional investors without corporate shareholdings will incorporate the ESG performance of listed companies in Taiwan into their shareholding decisions. |
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| Description: | 碩士
國立政治大學
會計學系
110353012 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0110353012 |
| Data Type: | thesis |
| Appears in Collections: | [會計學系] 學位論文
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