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| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 陳彥行(Yan-Shing Chen) | |
| dc.contributor.author | Cho-Hao Hsu | en |
| dc.contributor.author | 許倬豪 | zh_TW |
| dc.date.accessioned | 2021-06-17T06:00:11Z | - |
| dc.date.available | 2020-02-15 | |
| dc.date.copyright | 2019-02-15 | |
| dc.date.issued | 2019 | |
| dc.date.submitted | 2019-02-12 | |
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| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/71406 | - |
| dc.description.abstract | 本文旨在探討企業社會責任揭露與股價崩盤風險之關聯性，股價崩盤風險肇因於企業與投資人之間的資訊不對稱，其對企業現有股東及潛在投資人而言皆有一定重要性。若正派經營之企業透過企業社會責任揭露忠實表達與分享更多企業相關資訊予投資大眾，合理推斷其應有較小之股票崩盤風險；反之，若企業進行企業社會責任揭露僅為行銷宣傳抑或美化其形象，其企業社會責任揭露分數理應與股票崩盤風險無關，甚至可能因過度美化而有更高之崩盤風險。本文結果支持企業社會責任揭露可降低股票崩盤風險之觀點，此結果在企業擁有較多進行研究之分析師、公司治理分數偏低及財報易讀性不高時更加顯著。上述特性分別支持以下假說：分析師於解讀企業社會責任揭露資訊時佔有重要角色；內部監督機制較弱之企業較得以藉由增強外部監督得利；非財務資訊為財務資訊之補充。最後，在企業社會責任慣用之環境、社會、公司治理三領域中，尤以公司治理類資訊揭露最受重視。 | zh_TW |
| dc.description.abstract | This study investigates whether corporate social responsibility (CSR) disclosure is related to stock price crash risk. Crash risk captures the information asymmetry between firms and investors, and is important for both existing and potential shareholders. If firms with integrity share more information with the general public through CSR disclosure, they shall have a lower crash risk. On the other hand, if managers use CSR disclosure simply for advertising and greenwashing, more CSR disclosure shall have no significant effect or be associated with higher crash risk. The finding here supports the mitigating effect of CSR disclosure on crash risk. I find that CSR disclosure is negatively related with crash risk one year later. Furthermore, I find the effect more prominent when firms have more analyst following, less effective corporate governance or higher financial reporting opacity. These are consistent with the hypotheses that analysts play a vital role in interpreting CSR information, firms with weaker primary monitoring mechanism shall enjoy more from the outside monitoring, and that nonfinancial information is complementary to financial reports. Upon all above, corporate governance disclosure is viewed to be the most crucial, among the three conventional categories of environmental, social and corporate governance. | en |
| dc.description.provenance | Made available in DSpace on 2021-06-17T06:00:11Z (GMT). No. of bitstreams: 1 ntu-108-R04723066-1.pdf: 1076121 bytes, checksum: df5e11eb8e09fbc12976aeba87b96ef6 (MD5) Previous issue date: 2019 | en |
| dc.description.tableofcontents | 口試委員會審定書…….…………………………………… i
中文摘要………………………………………………….……… ii 英文摘要………………………........…………. iii 第一章 引言……………………………………………………. 1 第二章 文獻回顧與假說……………………….…. 4 第三章 樣本與研究方法…………………..... 6 3.1 企業社會責任揭露指標... ….. … 6 3.2 股票崩盤風險指標...…….... . . 7 3.3 實證模型...………………… ………………….. 9 第四章 實證結果…………………………….....…… 10 4.1 敘述統計……….……………………….....…… 10 4.2 主要結果……….………….....……...…… 11 4.3 內生性……….……………………………………………… 12 4.4 子樣本分析……….…………………………………… 13 4.5 其他分析……….………………......………… 15 第五章 結論………………………………………......…16 參考文獻........................ 18 附錄..…….......…………………………………………. 23 | |
| dc.language.iso | en | |
| dc.subject | 非財務資訊揭露 | zh_TW |
| dc.subject | 企業社會責任 | zh_TW |
| dc.subject | 股票崩盤風險 | zh_TW |
| dc.subject | 分析師 | zh_TW |
| dc.subject | 公司治理 | zh_TW |
| dc.subject | Corporate Governance | en |
| dc.subject | Corporate Social Responsibility | en |
| dc.subject | Stock Price Crash Risk | en |
| dc.subject | Analyst | en |
| dc.subject | Nonfinancial Disclosure | en |
| dc.title | 企業社會責任揭露與股票崩盤風險 | zh_TW |
| dc.title | Corporate Social Responsibility Disclosure and Stock Price Crash Risk | en |
| dc.type | Thesis | |
| dc.date.schoolyear | 107-1 | |
| dc.description.degree | 碩士 | |
| dc.contributor.oralexamcommittee | 黃嘉威(Chia-Wei Huang),張景宏(Ching-Hung Chang) | |
| dc.subject.keyword | 非財務資訊揭露,企業社會責任,股票崩盤風險,分析師,公司治理, | zh_TW |
| dc.subject.keyword | Nonfinancial Disclosure,Corporate Social Responsibility,Stock Price Crash Risk,Analyst,Corporate Governance, | en |
| dc.relation.page | 33 | |
| dc.identifier.doi | 10.6342/NTU201900516 | |
| dc.rights.note | 有償授權 | |
| dc.date.accepted | 2019-02-12 | |
| 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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