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研究生:廖丁輝
研究生(外文):Ting-Huei Liao
論文名稱:臺灣金融機構企業社會責任行為之研究
論文名稱(外文):A Study on the Behaviors of Corporate Social Responsibility in Taiwanese Financial Institutions
指導教授:邱建良邱建良引用關係李命志李命志引用關係
口試委員:黃添昌鄭東光林江峰曹添旺魏艾李彥賢邱建良
口試日期:2015-06-20
學位類別:博士
校院名稱:淡江大學
系所名稱:財務金融學系博士班
學門:商業及管理學門
學類:財務金融學類
論文出版年:2015
畢業學年度:103
語文別:英文
論文頁數:59
中文關鍵詞:企業社會責任風險承擔CSRHUB拔靴複製
外文關鍵詞:Corporate Social ResponsibilityBanking IndustryOperating Risk
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本論文以臺灣地區作為研究樣本,探討國內銀行業投入企業社會責任(Corporate Social Responsibility, CSR)活動與經營績效優劣之關聯性,且有別於過去的研究,亦進一步觀測對於銀行本身風險承擔的影響。在近年相關文獻的研究中,可發現評估企業社會責任高低多以質化指標進行分析,並無法有效觀測投入程度差異所帶來的影響。有鑑於此,採用CSRHUB對臺灣地區銀行產業所提供之CSR量化數據進行經營績效與不同風險類別的迴歸模型估計。迴歸模型與拔靴複製(bootstrap)模擬結果證實當銀行投入企業社會責任活動,將有助於提升公司經營會計基礎與市場基礎之績效表現,並對降低預期違約風險具有顯著性成效,特別是具有金控公司背景的國內銀行,其效果將可大幅度的提升,但這些助益並未對當期營運風險產生影響。最後,當銀行為金控公司之控股銀行時,正面助益的效果將較非金控公司鋃行的效果明顯。

This dissertation aims to investigate the relationship between the domestic banking devoting to the Corporate Social Responsibility (CSR) with their operating performance. In contrast to existing literatures, this dissertation further observes the degree of CSR related to the bank risk taking degree. Regarding recent studies, it can be found the level of corporate social responsibility usually being access by qualitative indicators, but cannot observe the differences brought by the degree of the corporate devotion to CSR. In view of this, by using the CSR quantitative data provided by CSRHUB to the banking industry of Taiwan, taking into account of the operating performance and various levels of risk categories regression models, the empirical results from the regression model and bootstrapping method confirm that when the banks devote to CSR actions, it will be helpful for the company performance levels of both accounting-based and market-based indicators. It can effectively reduce the potential risk of default. In addition, the bank possess the characteristics of financial holding company has large the positive effects than the bank with non-financial holding company. However, the results are not found in current operating risk indicator.

CONTENTS
ACKNOWLEDGEMENT I
ABSTRACT IN CHINESE II
ABSTRACT IN ENGLISH III
CONTENTS IV
LIST OF TABLES VI
LIST OF FIGURES VII












CONTENTS
CHAPTER 1 INTRODUCTION 1
CHAPTER 2 LITERATURE REVIEW 4
CHAPTER 3 DATA AND METHODOLOGY 8
3.1 Variables Definition 8
3.2 Empirical Model Specification 14
3.3 Bootstrap Method 16
CHAPTER 4 DATA ANALYSIS 19
4.1 Data Source 19
4.2 Summary Statistics 23
CHAPTER 5 EMPIRICAL RESULTS 27
5.1 Estimated Results from linear Regression Method 27
5.2 Testing Results from Bootstrap Method 34
CHAPTER 6 CONCLUSIONS 50
REFERENCES 52
APPENDIX 57
LIST OF TABLES
Table 4-2-1. Taiwan domestic bank financial data statistics 26
Table 5-1-1. Estimated results from Taiwan domestic bank market-based and accounting-based performance indicator 30
Table 5-1-2. Estimated results from Taiwan domestic bank market-based and accounting-based risk indicators 33
Table 5-2-1. Taiwan domestic bank accounting-based indicator bootstrap simulation results-1 36
Table 5-2-2. Taiwan domestic bank accounting-based indicator bootstrap simulation results-2 37
Table 5-2-3. Taiwan domestic bank accounting-based indicator bootstrap simulation results-3 38
Table 5-2-4. Taiwan domestic bank market-based indicator bootstrap simulation results
46






LIST OF FIGURES
Figure 5-2-1. Taiwan domestic bank accounting-based indicator bootstrap simulation distribution results-1 39
Figure 5-2-2. Taiwan domestic bank accounting-based indicator bootstrap simulation distribution results-1 40
Figure 5-2-3. Taiwan domestic bank accounting-based indicator bootstrap simulation distribution result-3 41
Figure 5-2-4. Taiwan domestic bank accounting-based indicator bootstrap simulation distribution results-5 42
Figure 5-2-5. Taiwan domestic bank accounting-based indicator bootstrap simulation distribution results-5 43
Figure 5-2-6. Taiwan domestic bank market-based indicator bootstrap simulation results-1 47
Figure 5-2-7. Taiwan domestic bank market-based indicator bootstrap simulation results-2 48
Figure 5-2-8. Taiwan domestic bank market-based indicator bootstrap simulation results-3 49


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APPENDIX
The Appendix provides a brief overview of the four corporate social responsibility dimensions from CSRHUB (2012). The dimensions include community, governance, environment and employees. It is as follows.
1. Community
The Community Category covers the company’s commitment and effectiveness within the local, national and global community in which it does business. It reflects a company’s citizenship, charitable giving, and volunteerism. This category covers the company’s human rights record and treatment of its supply chain. It also covers the environmental and social impacts of the company’s products and services, and the development of sustainable products, processes and technologies.
2. Governance
The Governance category covers disclosure of policies and procedures, board independence and diversity, executive compensation, attention to stakeholder concerns, and evaluation of a company’s culture of ethical leadership and compliance. Corporate governance refers to leadership structure and the values that determine corporate direction, ethics and performance. This category rates factors such as: are corporate policies and practices aligned with sustainability goals; is the management of the corporation transparent to stakeholders; are employees appropriately engaged in the management of the company; are sustainability principles integrated from the top down into the day-to-day operations of the company. Governance focuses on how management is committed to sustainability and corporate responsibility at all levels.
3. Employees
The Employees category includes disclosure of policies, programs, and performance in diversity, labor relations and labor rights, compensation, benefits, and employee training, health and safety. The evaluation focuses on the quality of policies and programs, compliance with national laws and regulations, and proactive management initiatives. The category includes evaluation of inclusive diversity policies, fair treatment of all employees, robust diversity (EEO-1) programs and training, disclosure of workforce diversity data, strong labor codes (addressing the core ILO standards), comprehensive benefits, demonstrated training and development opportunities, employee health and safety policies, basic and industry-specific safety training, demonstrated safety management systems, and a positive safety performance record.
4. Environment
The Environment category data covers a company’s interactions with the environment at large, including use of natural resources, and a company’s impact on the Earth’s ecosystems. The category evaluates corporate environmental performance, compliance with environmental regulations, mitigation of environmental footprint, leadership in addressing climate change through appropriate policies and strategies, energy-efficient operations, and the development of renewable energy and other alternative environmental technologies, disclosure of sources of environmental risk and liability and actions to minimize exposure to future risk, implementation of natural resource conservation and efficiency programs, pollution prevention programs, demonstration of a strategy toward sustainable development, integration of environmental sustainability and responsiveness with management and the board, and programs to measure and engage stakeholders for environmental improvement.


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