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完整後設資料紀錄
DC 欄位 | 值 | 語言 |
---|---|---|
dc.contributor.advisor | 何耕宇(Keng-Yu Ho) | |
dc.contributor.author | Ya-Hsuan Wu | en |
dc.contributor.author | 吳亞璇 | zh_TW |
dc.date.accessioned | 2021-06-07T17:33:09Z | - |
dc.date.copyright | 2020-07-20 | |
dc.date.issued | 2020 | |
dc.date.submitted | 2020-06-29 | |
dc.identifier.citation | 1. Aggarwal, R., Erel, I., Ferreira, M., Matos, P., 2011, Does Governance Travel Around the World? Evidence from Institutional Investors, Journal of Financial Economics, 100(1), 154-181. 2. Aghion, P., Van Reenen, J., Zingales, L., 2013, Innovation and Institutional Ownership, American Economic Review, 103(1), 277-304. 3. Bénabou, R., Tirole, J., 2010, Individual and Corporate Social Responsibility, Economica, 77(305), 1-19. 4. Bialkowski, J., Starks, L.T., 2016, SRI Funds: Investor Demand, Exogenous Shocks and ESG Profiles, Unpublished Working Paper, University of Canterbury and University of Texas at Austin. 5. Bouslah, K., Kryzanowski, L., M’Zali, B., 2018, Social Performance and Firm Risk: Impact of the Financial Crisis, Journal of Business Ethics, 149(3), 643-669. 6. Cespa, G., Cestone, G., 2007, Corporate Social Responsibility and Managerial Entrenchment, Journal of Economics Management Strategy, 16(3), 741-771. 7. Chen, T., Dong, H., Lin, C., 2020, Institutional Shareholders and Corporate Social Responsibility, Journal of Financial Economics, 135(2), 483-504. 8. Chih, H. H., Miao, W.C., Chuang, Y.C., 2014, Is Corporate Social Responsibility a Double-edged Sword? Evidence from Fortune Global 500 Companies. Journal of Management, 31(1), 1-19. 9. Deng, X., Kang, J.K., Low, B.S., 2013, Corporate Social Responsibility and Stakeholder Value Maximization: Evidence from Mergers, Journal of Financial Economics, 110(1), 87-109. 10. Dyck, A., Lins, K.V., Roth, L., Wagner, H.F., 2019, Do Institutional Investors Drive Corporate Social Responsibility? International Evidence, Journal of Financial Economics, 131(3), 693-714. 11. Ferreira, M.A., Matos, P., 2008, The Colors of Investors’ Money: The Role of Institutional Investors Around the World, Journal of Financial Economics, 88(3), 499-533. 12. Ferrell, A., Liang, H., Renneboog, L., 2016, Socially Responsible Firms, Journal of Financial Economics, 122(3), 585-606. 13. Gillan, S.L., Starks, L.T., 2000, Corporate Governance Proposals and Shareholder Activism: The Role of Institutional Investors, Journal of Financial Economics, 57(2), 275-305. 14. Grewal, J., Serafeim, G., Yoon, A. (2016). Shareholder Activism on Sustainability Issues, Working Paper, Harvard Business School. 15. Lins, K.V., Servaes, H., Tamayo, A., 2017, Social Capital, Trust, and Firm Performance: The Value of Corporate Social Responsibility During the Financial Crisis, Journal of Finance, 72(4), 1785-1824. 16. Masulis, R.W., Reza, S.W., 2015, Agency Problems of Corporate Philanthropy, Review of Financial Studies, 28(2), 592-636. 17. Shleifer, A., Vishny, R.W., 1997, A Survey of Corporate Governance, Journal of Finance, 52(2), 737-783. 18. Ting, H.I., 2009, Does Corporate Governance Matter to Institutional Investors, Journal of Management, 26(3), 233-253. 19. Tsai, W.C., Weng, P.S., Chen, W,C., 2017, The Association between Three Major Institutional Holding and Firm Capital Structure on the Taiwan Stock Market. Journal of Management, 34(2), 307-329. | |
dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/15351 | - |
dc.description.abstract | 過往文獻曾討論公司層面的企業社會責任(CSR)如何影響財務績效、資本結構及機構持股等。而本國少有討論機構持股與公司CSR關係的相關文獻,因此此篇論文使用台灣上市櫃公司近十年的機構持股資料,探討機構投資人是否能夠促進公司CSR活動的落實。我們採用2007年至2019年天下雜誌企業公民得獎名單來衡量企業CSR績效,發現擁有較高比例的機構投資人的公司在社會責任表現上較佳。此外,與本國機構投資人相比,外國機構投資人的影響更為顯著。整體而言,實證結果顯示,機構投資人對公司CSR有正面的貢獻。 | zh_TW |
dc.description.abstract | Existing literature has explored how firm-level corporate social responsibility (CSR) affects financial performance, capital structure, institutional holdings, etc. However, few studies in Taiwan discuss the relationship between institutional holdings and CSR. Therefore, this study aims to explore whether institutional investors could promote the implementation of CSR activities by examining the evidence from Taiwan. Using data from the CSR Award of CommonWealth Magazine to measure firms’ CSR performance, we find that greater institutional ownership is associated with higher CSR measures for publicly listed companies in Taiwan over the 2007-2019 period. Additionally, we find the effect is more pronounced for foreign institutional investors than domestic institutional investors. The results suggest that overall institutional investors are able to generate positive impact on firms’ CSR outcomes. | en |
dc.description.provenance | Made available in DSpace on 2021-06-07T17:33:09Z (GMT). No. of bitstreams: 1 U0001-2906202014473900.pdf: 1786763 bytes, checksum: 49572174b32cb54a15e1936e33b322af (MD5) Previous issue date: 2020 | en |
dc.description.tableofcontents | 口試委員會審定書………………………………………………… Acknowledgement…………………………………………………………………..……i 中文摘要………………………………………………………………………………...ii Abstract…………………………………………………………………………………iii I. Introduction……………………………………………………………………………1 II. Literature Review Research Hypotheses…………………………………………..4 2.1 Literature Review………………………………………………………………...4 2.1.1 Shareholder Activism……………………………………………………….4 2.1.2 For or Against CSR…………………………………………………………5 2.1.3 Foreign Institutional Investors and CSR……………………………………6 2.2 Research Hypotheses…………………………………………………………….6 III. Data and Sample Construction……………………………………………………....8 3.1 Model and Variable Definition…………………………………………………...8 3.2 Descriptive Statistics…………………………………………………………….10 IV. Empirical Results and Interpretation……………………………………………….11 4.1 Baseline Results…………………………………………………………………11 4.2 Foreign vs. Domestic and Different Types of Institutional Investors…………...12 4.3 CSR Performance on Different Aspects…………...……………………….…...13 4.4 Tests of Financial Motivations of Institutional Investors..……………………...14 V. Conclusion……………………………………………………………………….….16 References……………………………………………………………………………...19 | |
dc.language.iso | en | |
dc.title | 機構投資人比例與企業社會責任關聯之研究: 以臺灣上市櫃公司為例 | zh_TW |
dc.title | The Relationship between Institutional Ownership and Corporate Social Responsibility: Evidence from Taiwan | en |
dc.type | Thesis | |
dc.date.schoolyear | 108-2 | |
dc.description.degree | 碩士 | |
dc.contributor.oralexamcommittee | 張景宏(Ching-Hung Chang),林姿婷(Tzu-Ting Lin) | |
dc.subject.keyword | 企業社會責任,機構投資人持股,股東行動主義, | zh_TW |
dc.subject.keyword | Corporate Social Responsibility,Institutional Investors Ownership,Shareholder Activism, | en |
dc.relation.page | 30 | |
dc.identifier.doi | 10.6342/NTU202001189 | |
dc.rights.note | 未授權 | |
dc.date.accepted | 2020-06-29 | |
dc.contributor.author-college | 管理學院 | zh_TW |
dc.contributor.author-dept | 財務金融學研究所 | zh_TW |
顯示於系所單位: | 財務金融學系 |
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