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| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 吳儀玲 | zh_TW |
| dc.contributor.advisor | Yi-Lin Wu | en |
| dc.contributor.author | 黃欣培 | zh_TW |
| dc.contributor.author | Hsin-Pei Huang | en |
| dc.date.accessioned | 2025-12-31T16:08:37Z | - |
| dc.date.available | 2026-01-01 | - |
| dc.date.copyright | 2025-12-31 | - |
| dc.date.issued | 2025 | - |
| dc.date.submitted | 2025-12-18 | - |
| dc.identifier.citation | Bank for International Settlements (2020). The green swan: Central banking and financial stability in the age of climate change.
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| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/101155 | - |
| dc.description.abstract | 本文採用臺灣上市櫃公司之環境、社會與公司治理 (ESG) 評分作為基礎，探討較佳的 ESG 評分是否能在發生環保違規事件時，具備聲譽保險效果，以保護股東財富；相反地，此類環保違規事件可能揭示出企業在外界所認知的環境聲譽形象，與其實際的環境不當行為之間存在落差。
本研究採用市場模型與事件研究法，實證結果顯示環保違規事件會導致股價顯著的累積異常損失。企業獲得較佳的ESG 評分，能有效緩衝股價下跌衝擊，證明其具備聲譽保險效果。 | zh_TW |
| dc.description.abstract | Using the Environmental, Social, and Governance (ESG) scores of publicly listed companies in Taiwan, this study examines whether higher ESG scores provide a reputation insurance effect that protects shareholder wealth in the context of environmental violation events. Conversely, such violation events may signal discrepancies between a firm’s perceived environmental reputation and its actual environmental (mis)conduct.
Based on the market model and the event study methodology, we find that environmental violation events are associated with significant cumulative abnormal losses in stock prices.Firms with higher ESG scores are able to effectively buffer these declines, demonstrating a reputation insurance effect. | en |
| dc.description.provenance | Submitted by admin ntu (admin@lib.ntu.edu.tw) on 2025-12-31T16:08:37Z No. of bitstreams: 0 | en |
| dc.description.provenance | Made available in DSpace on 2025-12-31T16:08:37Z (GMT). No. of bitstreams: 0 | en |
| dc.description.tableofcontents | 目次
致謝 i 摘要 ii Abstract iii 目次 iv 第一章 緒論 1 第二章 文獻探討與研究假設 6 2.1 文獻探討 ....................................................... 6 2.1.1 投資人態度與評分分歧 ............................................6 2.1.2 CSR 與聲譽保險 .................................................7 2.1.3 CSR 與漂綠行為 .................................................9 2.2 研究假設 ........................................................10 2.2.1 假說一 ........................................................11 2.2.2 假說二 ........................................................11 第三章 資料與研究方法 13 3.1 資料樣本 ........................................................13 3.1.1 汙染源裁處資訊 .................................................13 3.1.2 永續性績效與 ESG 評分 ..........................................14 3.1.3 CAR 敘述統計摘要與裁罰金額分組 ..................................17 3.2 研究方法 ........................................................19 3.2.1 設定事件日、估計期及事件窗口 ....................................20 3.2.2 股票報酬率預期模式 .............................................20 3.2.3 事件研究法之檢定模式 ............................................22 3.2.4 ESG 評分轉換與去趨勢處理 ........................................23 3.2.5 設定雙向固定效果迴歸模型 ........................................24 3.2.6 加入控制變數後設定雙向固定效果迴歸模型 ...........................26 3.2.7 穩健性測試設定雙向固定效果迴歸模型 ...............................27 3.2.8 穩健性測試加入控制變數後設定雙向固定效果迴歸模型 ..................28 第四章 實證結果 29 4.1 環保違規事件對股價異常報酬之顯著性分析 .............................29 4.1.1 以裁罰金額分組檢定 CAR 顯著性 ...................................30 4.1.2 以中位數區隔 TESG 評分依裁罰金額分組檢定 CAR 顯著性 ...............32 4.1.3 以中位數區隔環境支柱評分依裁罰金額分組檢定 CAR 顯著性 ..............34 4.2 ESG 評分對累積異常報酬之影響 .......................................36 4.2.1 TESG 評分及其環境支柱評分之實證結果 ...............................36 4.2.2 TESG 評分及其環境支柱評分考量控制變數之實證結果 ....................40 4.2.3 評分個案分析 ....................................................42 4.3 穩健性測試 ........................................................45 4.3.1 彭博 ESG 評分及其環境構面評分實證結果 .............................45 4.3.2 彭博 ESG 評分及其環境構面評分考量控制變數之實證結果 ................49 第五章 結論與建議 53 參考文獻 59 | - |
| dc.language.iso | zh_TW | - |
| dc.subject | 環保違規 | - |
| dc.subject | ESG | - |
| dc.subject | 聲譽保險 | - |
| dc.subject | 事件研究法 | - |
| dc.subject | 異常報酬 | - |
| dc.subject | Environmental Violations | - |
| dc.subject | ESG | - |
| dc.subject | Reputation Insurance-Like Protection | - |
| dc.subject | Event Study Methodology | - |
| dc.subject | Abnormal Return | - |
| dc.title | 臺灣企業發生環保違規事件對股東財富影響：聲譽保險與漂綠行為之研究 | zh_TW |
| dc.title | The Impact of Environmental Violations by Taiwanese Companies on Shareholder Wealth: A Study on Environmental Reputation Insurance-Like Protection Versus Greenwashing | en |
| dc.type | Thesis | - |
| dc.date.schoolyear | 114-1 | - |
| dc.description.degree | 碩士 | - |
| dc.contributor.oralexamcommittee | 黃景沂;潘虹華 | zh_TW |
| dc.contributor.oralexamcommittee | Ching-i Huang;Hung-Hua Pan | en |
| dc.subject.keyword | 環保違規,ESG聲譽保險事件研究法異常報酬 | zh_TW |
| dc.subject.keyword | Environmental Violations,ESGReputation Insurance-Like ProtectionEvent Study MethodologyAbnormal Return | en |
| dc.relation.page | 61 | - |
| dc.identifier.doi | 10.6342/NTU202504753 | - |
| dc.rights.note | 未授權 | - |
| dc.date.accepted | 2025-12-19 | - |
| dc.contributor.author-college | 社會科學院 | - |
| dc.contributor.author-dept | 經濟學系 | - |
| dc.date.embargo-lift | N/A | - |
| 顯示於系所單位： | 經濟學系 | |
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|---|---|---|---|
| ntu-114-1.pdf 未授權公開取用 | 3.66 MB | Adobe PDF |
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