臺灣博碩士論文加值系統

近年來，由於全球化的爭議、國際環保意識高漲，以及綠色消費觀念的興起，企業不只是為股東追求利潤，政府機構、投資人、員工及社會大眾對於企業社會責任的要求也逐漸提高，並已成為企業經營及競爭壓力的來源。此外公司治理與企業社會責任有著密不可分之關係，過去研究也指出公司治理與公司績效兩者具關聯性。故本研究以天下雜誌「天下企業公民Top 50」公司作為樣本，藉此探討企業社會責任、公司治理與公司績效間之關係。
本研究實證結果：（1）先以多元迴歸進行企業社會責任與公司績效之資料分析，並將樣本分為電子與非電子業，結果顯示，不管在何種情況下，當其公司治理越佳時，其公司財務績效愈佳；（2）接著測試個別公司治理機制與企業社會責任之公司治理分次之關係，不管在何種情況下，當公司之董事會規模、獨立董事人數比率愈高時，其公司治理分數愈高；（3）測試個別公司治理機制與公司績效之關聯，當電子業之大股東持股比、機構投資人持股比愈高者，其公司財務績效愈好；（4）使用逐步迴歸測試之結果，當獨立董事人數比率、機構投資人持股比愈高，其公司財務績效愈佳，另外，當董事持股比愈高，其公司財務績效愈差；（5）各年度之個別公司治理機制與公司績效之比較，除2007年之外，當其他年度之獨立董事人數比率、機構投資人持股比愈高，其公司財務績效愈佳。

In recent years, the controversy of globalization, international environmental awareness is getting higher. Enterprises not only pursue profits for shareholders, government agencies, investors, employees and the community for the corporate social responsibility a gradual increase in the demands of international trade sanctions, environmental protection of the convention as enterprise management, and a source of their competitive pressure. In addition, corporate governance and corporate social responsibility work in very tight relationship. The past studies have pointed that both corporate governance and company performance with relevance. This study used the Commonwealth magazine’s "Excellence in corporate social responsibility top 50" as samples, to research the relationship of corporate social responsibility, corporate governance and corporate performance.
Our findings show that, (1) Using multiple regressions to analyze the relationship of CSR and corporate performance. The result shows that, when the corporate governance is better, the corporate financial performance is better. (2) Testing the relationship of individual corporate governance and the scope of corporate governance. The corporate governance score will higher if the size of board of directors and the ratio of independent directors is bigger. (3) Testing the relationship of individual corporate governance and the corporate performance. Their financial performance is better when the electronics industry’s large shareholders, institutional investors holding ratio is higher. (4) If using the stepwise regression, when the ratio of independent directors and institutional investors holding are higher, the financial performance is better. While the director holdings is higher, the financial performance is worse. (5) Comparing the each year to the relationship of individual corporate governance and corporate performance. Except for 2007, when the other years’ ratio of independent directors and institutional investors holding is higher, its financial performance is better.

第一章 前言.....................................1
第一節 研究背景與動機.............................1
第二節 研究目的..................................2
第二章 文獻回顧與假說推論.........................4
第一節 企業社會責任 ..............................4
第二節 企業社會責任與公司績效......................6
第三節 企業社會責任與公司治理 ......................8
第四節 公司治理與公司績效..........................9
第三章 研究方法.................................13
第一節 樣本來源與樣本選取.........................13
第二節 資料分析方法 ..............................14
第三節 變數衡量與定義.............................14
第四節 實證模型..................................16
第四章 實證結果..................................19
第一節 敘述性統計分析.............................19
第二節 相關性分析................................19
第三節 迴歸分析..................................25
第四節 個別公司治理機制對於公司績效之逐步迴歸法分析.....34
第五節 將顯著之公司治理變數取代公司治理分數............37
第六節 個別公司治理機制對於公司績效之各年迴歸測試.......39
第七節 額外測試..................................41
第五章 結論、研究限制與建議........................46
第一節 研究結論..................................46
第二節 研究限制與建議.............................48
參考文獻........................................49

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