政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/146396
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  全文筆數/總筆數 : 113822/144841 (79%)
造訪人次 : 51799237      線上人數 : 467
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
搜尋範圍 查詢小技巧：
  • 您可在西文檢索詞彙前後加上"雙引號"，以獲取較精準的檢索結果
  • 若欲以作者姓名搜尋，建議至進階搜尋限定作者欄位，可獲得較完整資料
    •  進階搜尋
    政大機構典藏 > 商學院 > 會計學系 > 學位論文 >  Item 140.119/146396


    請使用永久網址來引用或連結此文件: https://nccur.lib.nccu.edu.tw/handle/140.119/146396


    題名: 能源耗用與企業績效之關聯性
    The Effect of Energy Consumption Efficiency on Firm Performance
    作者: 許詩祥
    Hsu, Shih-Hsiang
    貢獻者: 林宛瑩
    Lin, Wan-Ying
    許詩祥
    Hsu, Shih-Hsiang
    關鍵詞: 環境綜合表現
    碳排放量
    用水量
    市場績效
    Environmental Performance
    Carbon Emissions
    Water Consumption
    Market Performance
    日期: 2023
    上傳時間: 2023-08-02 13:25:22 (UTC+8)
    摘要: 我國於2022年3月發布《2050淨零排放路徑及策略總說明》，其中要求高碳排及高用水產業透過製程改善、能源轉換及循環經濟推動產業轉型，期望在2050年實現淨零排放。同年，金管會為了能夠有效掌握企業碳排放量，開始要求上市櫃公司及其子公司2023年至2029年陸續完成溫室氣體盤查及確信。
    本研究採用台灣上市櫃公司2016年至2021年企業環境面綜合表現評分，以及企業所揭露之碳排放量及用水量，藉以衡量企業能源耗用之程度，並探討其與市場績效（以Tobin’s Q衡量）之關聯性。研究結果顯示，當企業環境面綜合表現越好，其市場績效越佳，且在同時考量碳排放量及用水量之情況下，企業碳排放量越高，其市場績效越差。
    In March 2022, Taiwan government released “2050 Net Zero Emission Pathway and Strategy Overview”, which requests industries with high carbon emission and high water consumption to promote industrial transition through production process improvement, energy conversion, and circular economy, expecting to reach zero emission in 2050. In the same year, in order to fully supervise corporate carbon emission, the FSC requests publicly traded companies and their subsidiaries to successively finish carbon footprint verification over the period 2023 to 2029.
    Based on a sample of Taiwanese listed companies from year 2016 to year 2021, this study investigates the association among environmental performance, carbon emission, water consumption and market performance of firm (using Tobin’s Q as proxy variable). The results shows that environmental performance is significantly and positively related to Tobin’s Q. Moreover, it is found that the total carbon emissions is significantly and negatively associated with Tobin’s Q.
    參考文獻: 張育琳，2019，節能減碳、企業綠色環境管理策略與公司績效之關連性，中山管理評論，第27卷第2期，279-326頁。
    張育琳、劉俊儒，2018，低水電有助於公司績效嗎，管理學報，第35卷第1期，103-136頁。
    Apergis, N., Poufinas, T., and Antonopoulos, A. 2022. ESG scores and cost of debt. Energy Economics, 112: 106186.
    Bolton, P., and Kacperczyk, M. 2021. Do investors care about carbon risk?. Journal of Financial Economics, 142(2): 517-549.
    Bothello, J., and Salles-Djelic, M. L. 2018. Evolving conceptualizations of organizational environmentalism: A path generation account. Organization Studies, 39(1): 93-119.
    Brush, T. H., Bromiley, P., and Hendrickx, M. 2000. The free cash flow hypothesis for sales growth and firm performance. Strategic Management Journal, 21(4): 455-472.
    Bracker, K., and Ramaya, K. 2011. Examining the impact of research and development expenditures on Tobin`s Q. Academy of Strategic Management Journal, 10, 63-79.
    Benlemlih, M. 2019. Corporate social responsibility and dividend policy. Research in International Business and Finance, 47, 114-138.
    Choi, B., and Luo, L. 2021. Does the market value greenhouse gas emissions? Evidence from multi-country firm data. The British Accounting Review, 53(1): 100909.
    Clément, A., Robinot, É., and Trespeuch, L. 2022. Improving ESG Scores with Sustainability Concepts. Sustainability, 14(20): 13154.
    Carnini Pulino, S., Ciaburri, M., Magnanelli, B. S., and Nasta, L. 2022. Does ESG disclosure influence firm performance?. Sustainability, 14(13): 7595.
    Chen, Y., and Ma, Y. 2021. Does green investment improve energy firm performance?. Energy Policy, 153: 112252.
    Drempetic, S., Klein, C., and Zwergel, B. 2020. The influence of firm size on the ESG score: Corporate sustainability ratings under review. Journal of Business Ethics, 167: 333-360.
    Dhaliwal, D. S., Li, O. Z., Tsang, A., and Yang, Y. G. 2011. Voluntary nonfinancial disclosure and the cost of equity capital: The initiation of corporate social responsibility reporting. The Accounting Review, 86(1): 59-100.
    Friedman, M. 1970.The Social Responsibility of Business is to Increase its Profits. New York Times Magazine (September 13),32-33:122-126.
    Fatemi, A., Glaum, M., and Kaiser, S. 2018. ESG performance and firm value: The moderating role of disclosure. Global Finance Journal, 38, 45-64.
    Friede, G., Busch, T., and Bassen, A. 2015. ESG and financial performance: aggregated evidence from more than 2000 empirical studies. Journal of Sustainable Finance & Investment, 5(4): 210-233.
    Freeman, R. E., Harrison, J. S., and Zyglidopoulos, S. 2018. Stakeholder Theory: Concepts and Strategies. Cambridge University Press.
    Garvey, G. T., Iyer, M., and Nash, J. 2018. Carbon footprint and productivity: does the “E” in ESG capture efficiency as well as environment. Journal of Investment Management, 16(1): 59-69.
    Griffin, P. A., Lont, D. H., and Sun, E. Y. 2017. The relevance to investors of greenhouse gas emission disclosures. Contemporary Accounting Research, 34(2):1265–1297.
    Gupta, K., Banerjee, R., and Onur, I. 2017. The effects of R&D and competition on firm value: International evidence. International Review of Economics & Finance, 51: 391-404.
    Hassan, O. A., and Romilly, P. 2018. Relations between corporate economic performance, environmental disclosure and greenhouse gas emissions: New insights. Business Strategy and the Environment 27(7): 893–909.
    Handriani, E., and Robiyanto, R. 2019. Institutional ownership, independent board, the board size, and firm performance: Evidence from Indonesia. Contaduría y administración, 64(3).
    Lev, B., and Zarowin, P. 1999. The boundaries of financial reporting and how to extend them. Journal of Accounting Research, 37(2): 353-385.
    Loderer, C. F., and Waelchli, U. 2010. Firm age and performance. Available at SSRN 1342248.
    Lee, K. H., Cin, B. C., and Lee, E. Y. 2016. Environmental responsibility and firm performance: The application of an environmental, social and governance model. Business Strategy and the Environment, 25(1): 40-53.
    Li Y., M. Gong, X. Zhang, L. Koh. 2018. The impact of environmental, social, and governance disclosure on firm value: The role of CEO power. The British Accounting Review 50(1): 60-75.
    Nishitani, K and Kokubu, K. 2012. Why does the reduction of greenhouse gas emissions enhance firm value? The case of Japanese manufacturing firms. Business Strategy and the Environment 21(8): 517–529.
    Richardson, S. 2006. Over-investment of free cash flow. Review of Accounting Studies, 11: 159-189.
    Shaikh, I. 2022. Environmental, social, and governance (ESG) practice and firm performance: an international evidence. Journal of Business Economics and Management, 23(1): 218-237.
    Simionescu, L. N., Gherghina, Ș. C., Sheikha, Z., and Tawil, H. 2020. Does water, waste, and energy consumption influence firm performance? Panel data evidence from S&P 500 information technology sector. International Journal of Environmental Research and Public Health, 17(14): 5206.
    Trinks, A., Mulder, M., and Scholtens, B. 2020. An efficiency perspective on carbon emissions and financial performance. Ecological Economics, 175: 106632.
    Velte, P. 2020. Does CEO power moderate the link between ESG performance and financial performance? A focus on the German two-tier system. Management Research Review, 43(5): 497-520.
    Xie, J., Nozawa, W., Yagi, M., Fujii, H., and Managi, S. 2019. Do environmental, social, and governance activities improve corporate financial performance?. Business Strategy and the Environment, 28(2): 286-300.
    Yan, C. C., Hui, Y. Z., and Xin, L. 2021. The relationship between board size and firm performance. In E3S Web of Conferences (Vol. 257, p. 02079). EDP Sciences.
    Yan, H., Li, X., Huang, Y., and Li, Y. 2020. The impact of the consistency of carbon performance and carbon information disclosure on enterprise value. Finance Research Letters, 37: 101680.
    描述: 碩士
    國立政治大學
    會計學系
    110353023
    資料來源: http://thesis.lib.nccu.edu.tw/record/#G0110353023
    資料類型: thesis
    顯示於類別:[會計學系] 學位論文

    文件中的檔案:

    檔案 描述 大小格式瀏覽次數
    302301.pdf3684KbAdobe PDF257檢視/開啟


    在政大典藏中所有的資料項目都受到原著作權保護.


    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 ©   - 回饋