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研究生:李建瑩
研究生(外文):Chien-Ying Lee
論文名稱:企業社會責任與財務績效關聯性研究-以本國金融業為例
論文名稱(外文):A Study on the Relationship between CSR and CFP of Financial Industry in Taiwan
指導教授:林麗嬌林麗嬌引用關係侯國隆侯國隆引用關係
指導教授(外文):Li-Chiao LinKuo-Lung Hou
學位類別:碩士
校院名稱:國立勤益科技大學
系所名稱:企業管理系
學門:商業及管理學門
學類:企業管理學類
論文種類:學術論文
論文出版年:2010
畢業學年度:98
語文別:中文
論文頁數:64
中文關鍵詞:企業社會責任財務績效利害關係人理論
外文關鍵詞:Corporate Social ResponsibilityCorporate Financial PerformanceStakeholders Theory
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近一、二十年來企業社會責任(Corporate Social esponsibility, CSR)議題越來越受到各界所重視,尤其在此次金融風暴造成經濟蕭條的時刻,更是重啟經濟活動力的重要關鍵。企業所獲得的利潤及財務績效,並不單來自於企業經營的結果,而是來自顧客的信任與支持及企業所處的環境文化、資產規模、社會責任表現等因素互動的結果。因此,企業如要永續經營,除了必須要關心其周圍環境的問題外,同時要能擔負企業社會責任,才能得到各方的支持,創造更好的財務績效。

金融業是國民經濟的樞紐,便利工商企業的往來,提供滿意的金融商品與服務,對國家經濟成長與金融發展,具有舉足輕重的地位,而且在企業社會責任方面,金融業亦應擔負起一個良好企業公民的責任,除回應社會的期望與需求外,更需主動貫徹企業社會責任的策略,創造優於其他行業的經營績效,健全財務結構,強化公司治理,提升股東投資價值;同時顧及員工與消費者權益、保護弱勢族群以及承擔維護社區和生態環境的責任,將企業社會責任融入企業文化,以創造企業價值。

據此,本研究主要以台灣上市、櫃的十三家金融控股公司為例,將2004年至2008年共五年的資產報酬率、股東權益報酬率及每股盈餘與前期之變動率做為因變數,參考深具公信力的《天下雜誌》與《遠見雜誌》每年所公佈的「企業公民責任」與「企業社會責任大調查」指標作為社會責任表現的評估值,另將企業資產規模、淨收益成長比率及債務比率列為控制變數,採用多元線性迴歸進行統計分析與實證研究,探討企業實施社會責任時,是否對其企業財務績效有正向的影響。

本研究實證結果顯示,我國金融控股公司實施企業社會責任其淨收益成長比率與資產報酬率、股東權益報酬率及每股盈餘與前期之變動率有顯著正相關,此結果符合利害關係人理論,即企業善盡企業社會責任,可改善企業與利害關係人的關係,降低營運成本,且研究發現企業對社會責任的投入愈多,愈能提高企業形象與競爭力,進而提升企業財務績效。

CSR has been under the spotlight in the last two decades. At the current serious worldwide financial crisis and recession, CSR even plays the key role to turn on the global economic activity. The profit of a corporate comes not only from the operation, but also from the combined results and the interaction of many factors such as the trust and support of clients, corporate culture, asset scale, and social responsibility, etc… Therefore, for sustainable operation and higher CFP, a company has to put more emphasis on the surroundings as well as CSR. By doing so, the company would gains supports from the stakeholders and creates a better CFP.

Financial industry is the axle of the national economy. It provides financial support for the businesses, and offers qualified financial products and services to the public. It plays an important role to the economic growth of a nation. Besides, the financial industry also bears the responsibility for being a good corporate citizen. Besides responding to the social demands and expectations, the financial industry should further implement the CSR strategy, create better corporate performance than other industry, improve corporate financial structure, strengthen corporate management, and raise the investment value of stockholders. Moreover, the financial industry should take care of the benefits/rights of both its employees and customers, protect the disadvantaged and minority, take the responsibility for community development and environmental protection and integrate CSR into its organizational culture to create higher corporate value.

In this study, we analyzed the return on assets (ROA), return on equity (ROE) ,earning per share (EPS)and the rate of change in previous year’s data as dependent valiables from year 2004 till 2008 on thirteen financial companies in Taiwan, either in the public market or over-the-counter. Index of Corporate Citizenship and CSR investigation released annually by two renowned magazines in Taiwan, namely, Common Wealth Magazine and Global Views, were used to evaluate the performance of corporate social responsibility. Moreover, corporate asset scale, growing rate of net income, and debt ratio were used as control variables (independent variables) to study the influence on CFP while implementing CSR. Multiple linear regression and case analysis were the research tools.

It is shown in the results that there is a very high positive correlation between corporate taking CSR and their net income growth, ROA, ROE, and the rate of change in previous year’s data. The results coincide with the stakeholder theory which states that when a company devotes itself more on CSR, its relationship with the stakeholder will be improved, and the operation cost will be reduced. Moreover, it is shown in the results that corporate image and competitiveness will also be improved with more dedication to CSR, and, therefore, better CFP.

一、緒論 1
1.1 研究背景及動機 1
1.2 研究目的 3
1.3 研究對象 3
1.4 研究範圍 4
1.5 研究架構 4
1.6 研究流程 4
二、文獻探討 6
2.1我國金融控股公司發展概況 6
2.1.1 金融控股公司介紹 6
2.1.2 我國金融控股公司現況: 9
2.2 企業社會責任 13
2.2.1 企業社會責任意義及範圍 13
2.2.2 企業社會責任的演變與發展 16
2.2.3 企業社會責任的規範 19
2.2.4 企業社會責任的衡量構面 25
2.3 財務績效 31
2.3.1 財務績效的意義 31
2.3.2 財務績效的衡量構面 31
2.4 企業社會責任與財務績效關係之研究 32
2.5 我國金融控股公司履行企業社會責任的現況 35
2.5.1 玉山金融控股股份有限公司 35
2.5.2 富邦金融控股股份有限公司 37
三、研究方法 41
3.1 研究架構 41
3.2 研究範圍與資料來源 41
3.2.1 研究範圍 41
3.2.2 資料來源 42
3.3 研究假說及相關變數定義 42
3.3.1 研究假說 42
3.3.2 相關變數之定義 43
3.4 建立實證模型 45
四、實證結果與分析 46
4.1 敘述性統計分析 46
4.2 相關性分析 47
4.3 迴歸分析 52
五、結論與建議 55
5.1 結論 55
5.2 建議 57


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