臺灣博碩士論文加值系統

近年來因地球暖化明顯及空汙狀況日益嚴重，環保議題越來越受大眾關注，隨著各國環保政策及相關法令的推動，環境資訊揭露已是財務報表中不可或缺的一個環節，企業追求經濟發展的同時也面臨到維持環境生態保護的責任，揭露環境相關資訊是否能對企業產生正面的效益是持續探討的議題，而投資者擔憂的是可能的資訊不對稱造成錯誤判斷。為提升資訊透明度及降低資訊不對稱的問題，獨立董事及獨立監事為監督公司管理階層整體的運作，是否因此影響企業對環境政策之決策亦是本研究探討的方向。本研究將企業環境揭露程度依據內容分析法加以評分, 按評分的等級評估各變數對企業價值的影響狀況來分析環境資訊揭露評分，以檢視不同層級的環境揭露對公司價值之影響。研究結果顯示在不同等級的企業環境揭露程度，公司規模、獨立董事比率、獨立監事比率、每股盈餘對公司價值的影響將不同，由此了解環境資訊揭露得分越高代表公司管理當局越注重環保議題的可能性越高。

In recent years as global warming becomes more apparent and air pollution gets severe day after day, environmental protection issues have gained growing public attention. As many nations set environmental protection policies and relative laws and regulation into action, environmental information disclosure has become a necessary part in financial statements. While businesses pursue economic development, they also face the responsibility of maintaining environmental and ecological protection. Whether disclosing environmentally related information can generate positive effect on businesses is an issue that continues to be explored. What investors worry is making wrong judgement due to possible information asymmetry. In order to elevate information transparency and lowering the problems of information asymmetry, whether the supervision of independent directors and supervisors on the overall operation of companies’ management has effect on companies’ decision on environmental policy would be the direction to be explored in this study. The study scores the extent of companies’ environmental disclosure based on content analysis method and evaluates the effect of each variable on corporate value according to different score levels, thus analyzing scores of environmental information disclosure to examine the effect of different level of environmental disclosures on corporate value. Result of the study shows that under different level of companies’ environmental information disclosure, the effect of companies’ scale, independent directors’ ratio, independent supervisors’ ratio, EPS on corporate value would be different, from which to understand that higher score of environmental information disclosure presents that the possibility of companies’ management valuing environmental protection issues is higher.

目錄
摘要 I
Abstract II
誌謝 III
表目錄 V
圖目錄 VI
第壹章　緒論 1
第一節　研究背景與動機 2
第二節　研究目的 4
第三節　研究架構 5
第貳章　文獻探討 7
第一節　ISO14001與環境資訊揭露 7
第二節　環境資訊揭露與資訊需求市場之關聯性 9
第三節　環境資訊揭露與環境績效之關聯性 11
第四節 環境績效與經營績效之關聯性 13
第五節 經營績效與股價之關聯性 14
第六節 獨立董監事之席次比例與經營績效關聯 15
第參章　研究方法 16
第一節　觀念架構 16
第二節　研究假說 17
第三節　研究對象與資料來源 18
第四節 研究變數與衡量 19
第五節 實證模型 23
第肆章　實證結果分析 24
第一節 敘述性統計分析 24
第二節 相關係數分析 28
第三節 研究結果 31
第五章 結論與建議 38
第一節 研究結論 38
第二節 研究限制 38
參考文獻 40
一、中文文獻 40
二、英文文獻 42

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