Please use this identifier to cite or link to this item:
http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/97061Full metadata record
| ???org.dspace.app.webui.jsptag.ItemTag.dcfield??? | Value | Language |
|---|---|---|
| dc.contributor.advisor | 羅竹平 | zh_TW |
| dc.contributor.advisor | Chu-Ping Lo | en |
| dc.contributor.author | 鄭莉螢 | zh_TW |
| dc.contributor.author | Li-Ying CHENG | en |
| dc.date.accessioned | 2025-02-26T16:16:24Z | - |
| dc.date.available | 2025-02-27 | - |
| dc.date.copyright | 2025-02-26 | - |
| dc.date.issued | 2025 | - |
| dc.date.submitted | 2025-02-06 | - |
| dc.identifier.citation | 王茂昌（2015）。環境資訊揭露具價值攸關性嗎？—以臺灣50指數企業為例。東吳經濟商學學報，(89)，35-60。
包沂靄、張淑清、吳冠勳、鄭淩淇、張慧珊（2024）。碳排放量、企業社會責任與公司治理對公司價值之影響。Journal of Data Analysis，19(1)，15-49。 吳幸蓁、廖蕙儀（2017）。自願性揭露企業社會責任資訊之決定因素與其資訊後果。中山管理評論，25(1)，13-62。 柯弈（2022）。ESG品質與揭露對企業財務表現的影響〔未出版之碩士論文〕。國立臺灣大學財務金融學系。 高渭川、陳怡伶、謝秋華、耿建新（2016）。碳排放量對企業股價影響之初探研究。華人前瞻研究，12(1)，23-38。 施凱珍（2021）。採SASB準則下ESG重大性議題與財務績效之探討〔未出版之碩士論文〕。國立政治大學風險管理與保險學系。 許仹媃（2024）。女性董事比率、ESG揭露、碳排與財務績效〔未出版之碩士論文〕。銘傳大學財務金融學系。 鄭明（2020）。自願揭露企業社會責任報告書與財務績效之關聯性〔未出版之碩士論文〕。國立臺灣大學會計學系。 謝秉蓉、陳建志、王銀杏（2021）。台灣企業社會責任報告書揭露品質與企業價值之關聯性探討。管理與系統，28(1)，61-87。 魏裕珍、盧陽正、陳振南、王丹薐（2018）。媒體聲譽對企業社會責任得獎企業其股市表現與財務績效之影響。臺大管理論叢，28(1), 87-139. Ahmad, N., Mobarek, A., & Roni, N. N. (2021). Revisiting the impact of ESG on financial performance of FTSE350 UK firms: Static and dynamic panel data analysis. Cogent Business & Management, 8(1), 1900500. https://doi.org/10.1080/23311975.2021.1900500 Al-Tuwaijri, S. A., Christensen, T. E., & Hughes, K. E. (2004). The relations among environmental disclosure, environmental performance, and economic performance: a simultaneous equations approach. Accounting, Organizations and Society, 29(5), 447-471.https://doi.org/10.1016/S0361-3682(03)00032-1 Bahaaeddin Ahmed, A., & Hamdan, A. (2020). ESG impact on performance of US S&P 500-listed firms. Corporate Governance, 20(7), 1409-1428. https://doi.org/10.1108/CG-06-2020-0258 Balogh, I., Srivastava, M., & Tyll, L. (2022). Towards comprehensive corporate sustainability reporting: an empirical study of factors influencing ESG disclosures of large Czech companies. Society and Business Review, 17(4), 541-573. https://doi.org/10.1108/SBR-07-2021-0114 Barnett, M. L., & Salomon, R. M. (2012). Does it pay to be really good? addressing the shape of the relationship between social and financial performance. Strategic Management Journal, 33(11), 1304-1320. https://doi.org/https://doi.org/10.1002/smj.1980 BÉNabou, R., & Tirole, J. (2010). Individual and corporate social responsibility. Economica, 77(305), 1-19. https://doi.org/10.1111/j.1468-0335.2009.00843.x Buallay, A. (2020). Sustainability reporting and firm’s performance. International Journal of Productivity and Performance Management, 69(3), 431-445. https://doi.org/10.1108/IJPPM-10-2018-0371 Buallay, A., Hamdan, A., & Zureigat, Q. (2017). Corporate governance and firm performance: Evidence from Saudi Arabia. Australasian Accounting, Business and Finance Journal, 11, 78-98. https://doi.org/10.14453/aabfj.v11i1.6 Candio, P. (2024). The effect of ESG and CSR attitude on financial performance in Europe: A quantitative re-examination. Journal of Environmental Management, 354, 120390. https://doi.org/10.1016/j.jenvman.2024.120390 Cantero-Saiz, M., Polizzi, S., & Scannella, E. (2024). ESG and asset quality in the banking industry: The moderating role of financial performance. Research in International Business and Finance, 69, 102221. https://doi.org/10.1016/j.ribaf.2024.102221 Cheng, B., Ioannou, I., & Serafeim, G. (2014). Corporate social responsibility and access to finance. Strategic Management Journal, 35(1), 1-23. https://doi.org/10.1002/smj.2131 Chouaibi, S., Rossi, M., Siggia, D., & Chouaibi, J. (2022). Exploring the moderating role of social and ethical practices in the relationship between environmental disclosure and financial performance: Evidence from ESG Companies. Sustainability, 14(1), 209. https://doi.org/10.3390/su14010209 Clarkson, P. M., Li, Y., Richardson, G. D., & Vasvari, F. P. (2011). Does it really pay to be green? Determinants and consequences of proactive environmental strategies. Journal of Accounting and Public Policy, 30(2), 122-144. https://doi.org/10.1016/j.jaccpubpol.2010.09.013 Cochran, P. L., & Wood, R. A. (1984). Corporate social responsibility and financial performance. Academy of Management Journal, 27(1), 42-56. https://doi.org/10.5465/255956 Cordazzo, M., Bini, L., & Marzo, G. (2020). Does the EU Directive on non-financial information influence the value relevance of ESG disclosure? Italian evidence. Business Strategy and the Environment, 29(8), 3470-3483. https://doi.org/10.1002/bse.2589 Dhaliwal, D. S., Li, O. Z., Tsang, A., & Yang, Y. G. (2011). Voluntary nonfinancial disclosure and the Cost of equity capital: The initiation of corporate social responsibility reporting. The Accounting Review, 86(1), 59-100. https://doi.org/10.2308/accr.00000005 Eccles, R., Ioannou, I., & Serafeim, G. (2014). The Impact of corporate sustainability on organizational processes and performance. Management Science, 60, 2835-2857. https://doi.org/10.1287/mnsc.2014.1984 Farooq, O. (2015). Financial centers and the relationship between ESG disclosure and firm performance: Evidence from an emerging market. Journal of Applied Business Research, 31(4), 1239. Friedman, M. (2007). The social responsibility of business Is to increase its profits. Corporate Ethics and Corporate Governance (pp. 173-178). Springer Berlin Heidelberg. https://doi.org/10.1007/978-3-540-70818-6_14 Ghosh, S. (2018). Governance reforms and performance of MENA banks: Are disclosures effective? Global Finance Journal, 36, 78-95. https://doi.org/10.1016/j.gfj.2018.01.002 Giannopoulos, G., Renate Victoria Kihle, F., Elmarzouky, M., & Kazi Abul Bashar Muhammad Afzal, H. (2022). The ESG disclosure and the Financial Performance of Norwegian Listed Firms. Journal of Risk and Financial Management, 15(6), 237. https://doi.org/10.3390/jrfm15060237 Han, J.-J., Kim, H. J., & Yu, J. (2016). Empirical study on relationship between corporate social responsibility and financial performance in Korea. Asian Journal of Sustainability and Social Responsibility, 1(1), 61-76. https://doi.org/10.1186/s41180-016-0002-3 Harris, R., & Tzavalis, E. (1999). Inference for unit roots in dynamic panels Where the time dimension is fixed. Journal of Econometrics, 91, 201-226. https://doi.org/10.1016/S0304-4076(98)00076-1 Ioannou, I., & Serafeim, G. (2012). What drives corporate social performance? The role of nation-level institutions. Journal of International Business Studies, 43(9), 834-864. https://doi.org/10.1057/jibs.2012.26 Ioannou, I., & Serafeim, G. (2017). The consequences of mandatory corporate sustainability reporting. Harvard Business School research working paper(11-100). Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360. https://doi.org/10.1016/0304-405X(76)90026-X Kim, S., & Yoo, J. (2022). Corporate opacity, corporate social responsibility, and financial performance. Finance Research Letters, 49, 103118. https://doi.org/10.1016/j.frl.2022.103118 Luo, X., & Bhattacharya, C. B. (2006). Corporate social responsibility, customer satisfaction, and market value. Journal of Marketing, 70(4), 1-18. https://doi.org/10.1509/jmkg.70.4.001 Mallin, C., Michelon, G., & Raggi, D. (2013). Monitoring intensity and stakeholders’ orientation: How does governance affect social and environmental disclosure? Journal of Business Ethics, 114(1), 29-43. https://doi.org/10.1007/s10551-012-1324-4 McWilliams, A., & Siegel, D. (2000). Corporate social responsibility and financial performance: correlation or misspecification? Strategic Management Journal, 21(5), 603-609. Narula, R., Rao, P., Kumar, S., & Matta, R. (2024). ESG scores and firm performance- evidence from emerging market. International Review of Economics & Finance, 89, 1170-1184. https://doi.org/10.1016/j.iref.2023.08.024 Nguyen, D. T., Hoang, T. G., & Tran, H. G. (2022). Help or hurt? The impact of ESG on firm performance in S&P 500 non-financial firms. Australasian Accounting, Business and Finance Journal, 16(2), 91-102. Nirino, N., Santoro, G., Miglietta, N., & Quaglia, R. (2021). Corporate controversies and company's financial performance: Exploring the moderating role of ESG practices. Technological Forecasting and Social Change, 162, 120341. https://doi.org/10.1016/j.techfore.2020.120341 Nollet, J., Filis, G., & Mitrokostas, E. (2016). Corporate social responsibility and financial performance: A non-linear and disaggregated approach. Economic Modelling, 52, 400-407. https://doi.org/10.1016/j.econmod.2015.09.019 Orlitzky, M., Schmidt, F. L., & Rynes, S. L. (2003). Corporate social and financial performance: A Meta-Analysis. Organization Studies, 24(3), 403-441. https://doi.org/10.1177/0170840603024003910 Ramelli, S., & Wagner, A. F. (2020). Feverish stock price reactions to COVID-19. The Review of Corporate Finance Studies, 9(3), 622-655. Shu, P.-G., & Chiang, S.-J. (2020). The impact of corporate governance on corporate social performance: Cases from listed firms in Taiwan. Pacific-Basin Finance Journal, 61, 101332. https://doi.org/10.1016/j.pacfin.2020.101332 Simunic, D. A. (1980). The Pricing of Audit Services: Theory and Evidence. Journal of Accounting Research, 18(1), 161-190. https://doi.org/10.2307/2490397 Subramaniam, P. L., Iranmanesh, M., Kumar, K. M., & Foroughi, B. (2020). The impact of multinational corporations’ socially responsible supplier development practices on their corporate reputation and financial performance. International Journal of Physical Distribution & Logistics Management, 50(1), 3-25. https://doi.org/10.1108/IJPDLM-01-2019-0002 Waddock, S. A., & Graves, S. B. (1997). Quality of management and quality of stakeholder relations: Are they synonymous? Business & society, 36(3), 250-279. Wang, H., Lu, W., Ye, M., Chau, K. W., & Zhang, X. (2016). The curvilinear relationship between corporate social performance and corporate financial performance: Evidence from the international construction industry. Journal of Cleaner Production, 137, 1313-1322. https://doi.org/10.1016/j.jclepro.2016.07.184 Wang, Z., & Sarkis, J. (2017). Corporate social responsibility governance, outcomes, and financial performance. Journal of Cleaner Production, 162, 1607-1616. https://doi.org/10.1016/j.jclepro.2017.06.142 Weston, P., & Nnadi, M. (2023). Evaluation of strategic and financial variables of corporate sustainability and ESG policies on corporate finance performance. Journal of Sustainable Finance & Investment, 13(2), 1058-1074. https://doi.org/10.1080/20430795.2021.1883984 Zhang, M., Wu, D., & Huang, G. (2024). Minimum Wage Level and Corporate ESG Performance. Finance Research Letters, 105783. https://doi.org/10.1016/j.frl.2024.105783 Zhang, Z., & Zhang, L. (2024). Investor attention and corporate ESG performance. Finance Research Letters, 60, 104887. https://doi.org/10.1016/j.frl.2023.104887 | - |
| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/97061 | - |
| dc.description.abstract | 本文使用TEJ資料庫中2020年至2023年852家上市公司的探討ESG揭露對財務績效的影響。財務績效以ROA、ROE和Tobin's Q做為衡量變數，揭露變數包括ESG總體揭露分數、環境揭露分數、社會揭露分數和治理揭露分數。研究結果顯示ESG揭露皆對ROA和ROE存在顯著負相關關係，但對Tobin's Q無顯著影響。進一步探討ESG評級差異其揭露對財務績效影響，研究結果顯示，ESG評級較低的企業樣本群體其揭露對財務績效存在負面影響。另外，本文也發現外銷比例高且屬於SASB產業別中的「科技與通訊」或「提煉與礦產加工」的企業，在ESG揭露表現普遍更佳，反映出國際市場競爭壓力及產業特性對揭露程度的重要影響。 | zh_TW |
| dc.description.abstract | This study collects data from the TEJ database, encompassing 852 publicly listed companies in Taiwan from 2020 to 2023, to examine the relationship between ESG disclosure and financial performance. Financial performance is evaluated using ROA, ROE, and Tobin's Q, while disclosure variables include overall ESG disclosure scores, environmental disclosure scores, social disclosure scores, and governance disclosure scores. Empirical findings indicate a significant negative correlation between ESG disclosure and both ROA and ROE, whereas no statistically significant impact is observed on Tobin's Q. Further analysis of ESG rating disparities demonstrates that firms with lower ESG ratings exhibit a negative relationship between ESG disclosure and financial performance. Moreover, the study identifies that firms with a high export ratio and classified under the SASB-defined sectors of "Technology & Communications" or "Extractives & Mineral Processing" generally achieve superior ESG disclosure performance. These findings underscore the critical role of international market competitive pressures and industry-specific characteristics in shaping the extent of ESG disclosure. | en |
| dc.description.provenance | Submitted by admin ntu (admin@lib.ntu.edu.tw) on 2025-02-26T16:16:24Z No. of bitstreams: 0 | en |
| dc.description.provenance | Made available in DSpace on 2025-02-26T16:16:24Z (GMT). No. of bitstreams: 0 | en |
| dc.description.tableofcontents | 口試委員會審定書 i
中文摘要 ii ABSTRACT iii 目次 iv 圖次 vi 表次 vii 第一章 緒論 1 第一節 研究背景 1 第二節 研究動機及目的 2 第三節 研究架構 4 第二章 文獻回顧 6 第一節 ESG發展理論基礎 6 第二節 ESG揭露與財務績效之關係 6 第三章 研究方法 10 第一節 研究樣本及資料來源 10 第二節 變數定義 11 第三節 研究模型 13 第四章 研究結果與分析 15 第一節 敘述性統計 15 第二節 相關性分析 15 第三節 迴歸結果分析 19 第五章 結論與研究建議 34 第一節 研究結論 34 第二節 研究限制與建議 35 參考文獻 36 附錄 41 附錄一 領先族群樣本資料（按TESG永續發展指標分群） 41 附錄二 平均族群樣本資料（按TESG永續發展指標分群） 43 附錄三 落後族群樣本資料（按TESG永續發展指標分群） 49 | - |
| dc.language.iso | zh_TW | - |
| dc.title | ESG 揭露對台灣上市公司財務績效之影響 | zh_TW |
| dc.title | The Impact of ESG Disclosure on Financial Performance of Listed Companies in Taiwan | en |
| dc.type | Thesis | - |
| dc.date.schoolyear | 113-1 | - |
| dc.description.degree | 碩士 | - |
| dc.contributor.oralexamcommittee | 雷立芬;許淑媖 | zh_TW |
| dc.contributor.oralexamcommittee | Li-Fen Lei;Su-Ying Hsu | en |
| dc.subject.keyword | ESG揭露,環境揭露分數,社會揭露分數,治理揭露分數,財務績效, | zh_TW |
| dc.subject.keyword | ESG disclosure,environmental disclosure scores,social disclosure scores,governance disclosure scores,financial performance, | en |
| dc.relation.page | 49 | - |
| dc.identifier.doi | 10.6342/NTU202500413 | - |
| dc.rights.note | 未授權 | - |
| dc.date.accepted | 2025-02-06 | - |
| dc.contributor.author-college | 生物資源暨農學院 | - |
| dc.contributor.author-dept | 農業經濟學系 | - |
| dc.date.embargo-lift | N/A | - |
| Appears in Collections: | 農業經濟學系 | |
Files in This Item:
| File | Size | Format | |
|---|---|---|---|
| ntu-113-1.pdf Restricted Access | 1.26 MB | Adobe PDF |
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.