臺灣博碩士論文加值系統

本研究以2003年至2014年上市櫃公司共20,850家公司觀察值為研究樣本，目的在探討公司績效、公司特性及公司治理機制對環境資訊揭露的影響為何?並探討『企業社會責任』對『公司績效與環境資訊揭露』間有何調節效果。
全體樣本迴歸分析結果發現：公司績效中，市場績效-杜賓Q對環境資訊揭露總分、自願性環境資訊揭露均為顯著正向影響；公司特性變數中，獲得企業社會責任獎、環境敏感性產業、通過ISO14001對環境資訊揭露總分、自願性環境資訊揭露、強制性環境資訊揭露均為顯著正向影響，負債比率對環境資訊揭露總分、自願性環境資訊揭露、強制性環境資訊揭露均為顯著負向影響；公司治理變數中，總經理為控制家族成員對環境資訊揭露總分、自願性環境資訊揭露、強制性環境資訊揭露均為顯著正向影響，獨立董事比率對環境資訊揭露總分、自願性環境資訊揭露均為顯著正向影響，存在外部大股東對環境資訊揭露總分、強制性環境資訊揭露均為顯著正向影響，獨立監察人比率對環境資訊揭露總分、自願性環境資訊揭露及強制性環境資訊揭露均為顯著負向影響，法人機構持股率對環境資訊揭露總分、自願性環境資訊揭露均為顯著負向影響。
本研究的貢獻在兩方面:第一，補充了公司績效、公司特性、公司治理機制對環境資訊揭露，自願性環境資訊揭露及強制性環境資訊揭露影響之實證證據；第二，驗證了『企業社會責任』對『公司績效與環境資訊揭露』間敏感性的調節效果。

This study takes the observational value of totally 20,850 companies between 2003 and 2014 as study samples. The purpose is designed to explore what impact of corporate performance, corporate characteristics and corporate governance mechanism would make on the disclosure of environmental information. It also investigates what kind of moderating effect would be brought by the corporate social responsibility on “corporate performance and environmental information disclosure”.
We find from the regression analysis results of the entire samples: The market performance-Tobin’s Q significantly makes positive influence on overall score of environmental information disclosure and voluntary disclosure of environmental information. Among the variables of the corporate characteristics, winning the corporate social responsibility award, the environmentally-sensitive industry and ISO14001 accreditation all significantly make positive impact on overall score of environmental information disclosure, voluntary disclosure of environmental information and mandatory disclosure of environmental information. The ratio of liability significantly makes negative influence on overall score of environmental information disclosure, voluntary disclosure of environmental information and mandatory disclosure of environmental information. In view of the corporate governance variable, the general manager as the member of family-in-control significantly makes positive influence on overall score of environmental information disclosure, voluntary disclosure of environmental information and mandatory disclosure of environmental information, the ratio of independent directors significantly makes positive influence on overall score of environmental information disclosure and voluntary disclosure of environmental information; existence of outside blockholders significantly makes positive influence on both overall score of environment information disclosure and mandatory disclosure of environmental information; the ratio of independent supervisors significantly makes negative impact on all overall score of environmental information disclosure, voluntary disclosure of environmental information and mandatory disclosure of environmental information; shareholding rate of corporate bodies significantly makes negative influence on both overall score of environmental information disclosure and voluntary disclosure of environmental information.
The contribution of this study lies in two aspects: firstly, it supplements the empirical evidence of the impact of the corporate performance, corporate characteristics and corporate governance mechanism on environmental information disclosure, voluntary disclosure of environmental information and mandatory disclosure of environmental information; secondly, it verifies the moderating effect of the corporate social responsibility on the sensitivity between corporate performance.

摘 要 i
Abstract iii
誌 謝 v
目 錄 vi
表目錄 viii
圖目錄 ix
壹、緒論 1
1.1研究背景 1
1.2研究動機與目的 2
1.3研究流程 2
貳、文獻探討與假說建立 4
2.1企業社會責任與環境資訊揭露 4
2.1.1企業社會責任 4
2.1.2環境資訊揭露 4
2.1.3自願性資訊揭露與強制性資訊揭露 5
2.1.4企業社會責任與環境資訊揭露的效益 6
2.2企業績效與環境資訊揭露 7
2.3公司特性與環境資訊揭露 9
2.3.1環境敏感性產業 9
2.3.2 ISO-14001 11
2.3.3 財務槓桿(即負債比率) 12
2.4公司治理機制與環境資訊揭露 13
2.5『企業社會責任』對『公司績效與環境資訊揭露』間關係的調節效果 17
2.6控制變數 18
參、研究樣本、研究變數定義、研究方法與模型 19
3.1研究樣本資料來源及研究期間 19
3.2研究變數定義 19
3.2.1公司環境資訊揭露 (Environmental Information Disclosure; EID) 19
3.2.2企業社會責任獎 (DUM_CSR) 21
3.2.3環境敏感產業 (Environmental Sensitive Industries; DUM_ESI) 21
3.2.4 ISO-14001認證(DUM_ISO) 21
3.2.5財務槓桿(Leverage;LEV) 21
3.2.6公司獲利能力 (Profitability) 21
3.2.7公司治理機制變數 22
2.3.8控制變數 24
3.3研究方法 24
3.4研究模型 26
肆、實證結果與分析 29
4.1次數分配與敘述統計 29
4.2平均數差異檢定(T-檢定) 30
4.3研究變數與環境資訊揭露間之相關分析 32
4.4迴歸分析 35
4.5迴歸分析『企業社會責任』對『公司績效與環境資訊揭露』間關係的調節效果 40
伍、結論與建議 44
5.1實證結果 44
5.2研究建議 46
參考文獻 48
一、中文文獻 48
二、英文文獻 51

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