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研究生:周亭彣
研究生(外文):CHOU,TING-WEN
論文名稱:發生負面企業社會責任事件與現金持有決策之關聯性
論文名稱(外文):The Occurrence of Negative Corporate Social Responsibility Events and Firms’ Cash Holding
指導教授:陳慶隆陳慶隆引用關係王翰屏王翰屏引用關係
指導教授(外文):CHEN,CHING-LUNGWANG,HANN-PYNG
口試委員:陳慶隆王翰屏范宏書呂明哲
口試委員(外文):CHEN,CHING-LUNGWANG,HANN-PYNGFAN, HUNG-SHULU, MING-CHE
口試日期:2021-05-30
學位類別:碩士
校院名稱:國立雲林科技大學
系所名稱:會計系
學門:商業及管理學門
學類:會計學類
論文種類:學術論文
論文出版年:2021
畢業學年度:109
語文別:中文
論文頁數:48
中文關鍵詞:負面企業社會責任現金持有企業社會責任公司治理
外文關鍵詞:Negative corporate social responsibility eventsCash-holdingCorporate social responsibilityCorporate governance
相關次數:
  • 被引用被引用:0
  • 點閱點閱:15
  • 評分評分:
  • 下載下載:0
  • 收藏至我的研究室書目清單書目收藏:0
本研究以2003年至2019年間我國上市(櫃)公司為研究對象,採用Opler et al. (1999)與Bates et al. (2009)之實證模型作為基礎,以混合資料型態建構迴歸模型,探討公司發生負面企業社會責任事件與其現金持有決策之關係。實證結果顯示:公司發生負面企業社會責任事件與現金持有政策呈現顯著負向關係。表示發生負面企業社會責任事件之公司相較未發生之公司,其現金持有部位水準較低,支持公司管理者為修補聲譽或維持正常運作,降低超額現金持有部位,以降低代理衝突及資本市場疑慮之觀點。另本研究亦進行若干敏感性測試,顯示實證結果具備穩固性。
Based on both the Opler et al. (1999) and Bates et al. (2009) framework, this study uses listed firms in Taiwan stocks market from 2003 to 2019 to construct an empirical regression, which in turn, examines the association between firms’ occurrence of negative corporate social responsibility events and their cash holding decisions. The empirical results document that the dummy variable of negative corporate social responsibility events is negatively associated with cash holdings position. This result suggests that the magnitude of cash holdings of companies with negative corporate social responsibility events is lower than that of companies without negative corporate social responsibility events. It supports the argument that managers have incentives to reduce the agency conflict and the doubts of the capital market, thereby reduce the excess cash holdings in order to repair the reputation and/or maintain the normal operation. This study diagnoses several tests and shows the results are robust to various specifications.
摘要 i
Abstract ii
誌謝 iii
目錄 iv
表目錄 v
圖目錄 vi
第壹章、緒論 1
第一節 研究背景與動機 1
第二節 研究目的 3
第三節 研究架構 4
第貳章、文獻探討 6
第一節 現金持有決策相關文獻 6
第二節 負面企業社會責任相關文獻 8
第參章、研究設計 10
第一節 研究假說 10
第二節 研究期間與樣本篩選 12
第三節 變數定義 15
第四節 實證模型 18
第肆章、實證結果分析 20
第一節 敘述性統計與相關性分析 20
第二節 實證結果 23
第伍章、敏感性測試 26
第一節 區分資訊與非資訊類型負面企業社會責任事件之檢測 26
第二節 我國正式推動企業社會責任報告前後之檢測 30
第三節 區分食品/石化業與非食品/石化業兩群次樣本之檢測 33
第陸章、研究結論與限制 36
第一節 研究結論 36
第二節 研究限制 37
參考文獻 38

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