臺灣企業的政黨結盟策略：立委選舉的政治獻金分析，2008-2012

Abstract

臺灣企業的政治獻金傾向捐給哪一個政黨？本文利用臺灣經濟新報資料庫中的上市櫃公司財務數據，以及2008年和2012立委選舉的政治獻金資訊，來檢視臺灣企業的政黨結盟策略，得到以下四項結論：首先，大型企業傾向採行兩邊下注的政治捐獻策略，同時捐贈政治獻金給國民黨和民進黨。其次，2008年，在中國投資程度較高的企業，更可能採行只捐國民黨或兩黨都捐的策略；但是隨著兩岸之間的跨海峽政商網絡日益複雜，政治獻金可能不再是中國對臺灣施展政治影響力的唯一管道。第三，家族企業較可能以政治獻金來支持國民黨，這顯示家族企業早年與國民黨之間的政商關係，至今仍舊發揮著組織烙印的效果。最後，若企業的跨坐董監事席次較多，也就是在市場網絡上相對活躍，則較不會涉入政治獻金。

This study investigates the political partisanship of Taiwanese business, through analyzing financial information of listed company from Taiwan Economic Journal (TEJ) database and statistics on campaign contribution in the 2008 and 2012 legislative elections. There are four main findings as followed: Firstly, larger corporations are inclined to make bipartisan donations to both Kuomintang (KMT) and Democratic Progressive Party (DPP). Secondly, corporations with larger investment in China are more likely to donate to KMT or make bipartisan donations in 2008; however, as cross-Strait government-business networks grow further complicated, campaign contribution may not be the only way for China to manipulate the political affairs in Taiwan. Thirdly, family-owned corporations are prone to donate to KMT, which implicates the organizational imprinting effect on the partnership between family-owned corporations and KMT in the early years. Lastly, if corporations consist of more interlocking directorates, which indicates a more active engagement in market networks, they are less likely to involve in campaign contribution.