第六章 結論與建議
第三節 研究限制
國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
第三節 研究限制
本研究在蒐集資料及進行分析時，雖已進行全面考量，但仍存在以下限制：
1. 本研究於選取訪談對象時，僅從眾多投資人當中選取 4 位進行訪談，故 可能無法代表所有投資人對CSR 指標之意見。而針對法人投資人，可再 細分為以短期持有股票以套利為目的之法人投資人及欲長期持有股票之 法人投資人，但本研究並未將所選取之法人投資人以長短期進行劃分。
2. 投資人在判斷CSR 指標是否重要時，雖考量因素相同，但仍容易受到個 人主觀意見影響，故選取出的指標可能無法代表所有投資人都認為重要 的指標。
‧ 國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
參考文獻
中文文獻
全球永續性報告協會，2014a，GRI G4 永續性報告指南：報告原則與標準揭露，
吳文雅、莫冬立、張凱評、陳科里、張仁杰與楊于縈譯，台北：社團法人中 華民國企業永續發展協會。
全球永續性報告協會，2014b，GRI G4 永續性報告指南：實施手冊，吳文雅、莫 冬立、張凱評、陳科里、張仁杰與楊于縈譯，台北：社團法人中華民國企業 永續發展協會。
全球永續性報告協會，2016，GRI G4 食品加工業行業揭露，吳文雅、莫冬立、張 凱評、陳科里、張仁杰、巫宜株與陳譽文譯，台北：社團法人中華民國企業 永續發展協會。
高麗萍，黃歆詒，潘冠尹與江穎，2016，企業社會責任報告書資訊內涵之研究，
慈濟科技大學學報，第三期(八月)：125-150。
郭素菱，2002，機構投資人與財務報表攸關性之研究，國立成功大學會計學系未 出版碩士論文。
黃瓊瑤，王癸元與張鳳真，2013，企業社會責任事件宣告與股價異常報酬之研究，
當代會計，第十四卷第二期(十一月)：175-204。
蘇惟宏，2000，機構法人從眾行為之研究─以國內股市集中交易市場為例，國立 政治大學企業管理學系未出版碩士論文。
廖妙娟，2010，台灣股票市場個別投資人與機構投資人之從眾行為分析，國立東 華大學會計與財務金融系未出版碩士論文。
英文文獻
Alshammari, M. 2015. Corporate social responsibility and firm performance: The moderating role of reputation and institutional investors. International Journal
of Business and Management 10(6): 15-28.
Baraket, F. S. Q., M. V. L. Pérez, and L. R. Ariza. 2015. Corporate social responsibility disclosure (CSRD) determinants of listed companies in Palestine (PXE) and Jordan (ASE). Review of Managerial Science 9(4):681-702.
Barnea, A., and A. Rubin. 2010. Corporate social responsibility as a conflict between shareholders. Journal of Business Ethics 97(1): 71-86.
Bird, R., A. D. Hall, F. Momentè, and F. Raggiani. 2007. What corporate social responsibility activities are valued by the market? Journal of Business Ethics 76(2):189-206.
Cho, C. H., M. Giovanna, D. M. Patten, and R. W. Roberts. 2015. CSR disclosure: The
‧ 國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
more things change…? Accounting, Auditing & Accountability Journal 28(1):14-35.
Cormier, D., M. J. Ledoux, and M. Magnan. 2011. The informational contribution of social and environmental disclosures for investors. Management Decision 49(8):1276-1304.
El Baz, J., I. Laguir, M. Marais, and R. Staglianò. 2016. Influence of national institutions on the corporate social responsibility practices of small- and medium – sized enterprises in the food-processing industry: Differences between France and Morocco. Journal of Business Ethics 134(1): 117-133.
Flammer, C. 2013. Corporate social responsibility and shareholder reaction: The environmental awareness of investors. Academy of Management Journal 56(3):758-781.
Gao, Y. 2011. CSR in an emerging country: A content analysis of CSR reports of listed companies. Baltic Journal of Management 6(2):263-291.
Giannarakis, G., G. Konteos, and N. Sariannidis. 2014. Financial, governance and environmental determinants of corporate social responsible disclosure.
Management Decision 52(10):1928-1951.
Global Reporting Initiative. 2011. Sustainability Reporting Guidelines. Global Reporting Initiative.
Godfrey, P. C., C. B. Merrill, and J. M. Hansen. 2009. The relationship between corporate social responsibility and shareholder value: The empirical test of the risk management hypothesis. Strategic Management Journal 30(4):425-445.
Hasseldine, J., A. Salama, and T. Steven. 2005. Quantity versus quality: The impact of environmental disclosures on the reputations of UK plcs. British Accounting
Review 37(2):231-248.
Hedberg, C. J., and F. V. Malmborg. 2003. The global reporting initiative and corporate sustainability reporting in Swedish companies. Corporate Social
Responsibility and Environmental Management 10(3):153-164.
Hou, J., and B. H. Reber. 2011. Dimensions of disclosures: Corporate social responsibility (CSR) reporting by media companies. Public Relations Review 37(2): 166-168.
Huang, C., and F. Kung. 2010. Drivers of environmental disclosure and stakeholder expectation: Evidence from Taiwan. Journal of Business Ethics 96(3):435-451.
Jain, R., and L. H. Winner. 2016. CSR and sustainability reporting practices of top companies in India. Corporate Communications: An International Journal 21(1):36-55.
Jizi, M., R. Nehme, and A. Salama. 2016. Do social responsibility disclosures show improvements on stock price? The Journal of Developing Areas 50(2):78-95.
‧ 國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
Kansal, M., M. Joshi, and R. S. Batra. 2014. Determinants of corporate social responsibility disclosure: Evidence from India. Advances in Accounting 30(1):217-229.
Klerk, M. D., C. D. Villiers, and C. V. Staden. 2015. The influence of corporate responsibility disclosure share prices: Evidence from the United Kingdom.
Pacific Accounting Review 27(2):208-228.
Maloni, M. J., and M. E. Brown. 2006. Corporate social responsibility in the supply chain: An application in the food industry. Journal of Business Ethics 68(1):
35-52.
Mirfazil, E. 2008. Corporate social responsibility (CSR) information disclosure by annual reports of public companies listed at Indonesia stock exchange (IDX).
International Journal of Islamic and Middle Eastern Finance and Management 1(4):275-284.
Lipunga, A. M. 2015. Corporate social responsibility reporting through the lens of ISO 26000: A case of Malawian quoted companies. International Business
Research 8(2):28-41.
Oeynon, J., S. Martin, and R. Bampton. 2011. An examination of corporate social responsibility and financial performance: A study of the top 50 Indonesian listed corporations. Journal of Global Responsibility 2(1):100-112.
O’Riordan, L., and J. Fairbrass. 2014. Managing CSR stakeholder engagement: A new conceptual framework. Journal of Business Ethics 125(1):121-145.
Parsa, S., and R. Kouhy. 2007. Social reporting by companies listed on the alternative investment market. Journal of Business Ethics 79(3):345-360.
Prayag, C., and P. V. Rensburg. 2006. The value of analysts’ consensus recommendations:
Evidence from South African brokerage houses. Investment Analysts Journal 63:5-17.
Reverte, C. 2009. Determinants of corporate social responsibility disclosure rating by Spanish listed firms. Journal of Business Ethics 88(2): 351-366.
Richards, Z., S. L. Thomas, M. Randle, and S. Pettigrew. 2015. Corporate social responsibility programs of big food in Australia: A content analysis of industry documents. Australian and New Zealand Journal of Public Health 39(6):550-556.
Souto, D. B. 2009. Crisis and corporate social responsibility: Threat or opportunity?
International Journal of Economic Sciences and Applied Research 2(1):36-50.
Sutantoputra, A. W. 2009. Social disclosure rating system for assessing firms’ CSR reports. Corporate Communications: An International Journal 14(1):34-48.
Tata, J., and S. Prasad. 2015. CSR communication: An impression management perspective. Journal of Business Ethics 132(4): 765-778.
‧ 國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
Verbeeten, F. H. M., R. Gamerschlag, and K.
Möller
. 2016. Are CSR disclosures relevant for investors? Empirical evidence from Germany. ManagementDecision 54(6):1359-1382.
Wilburn, K., and R. Wilburn. 2013. Using global reporting initiative indicators for CSR programs. Journal of Global Responsibility 4(1):62-75.
網站資料
經濟部統計處：https://www.moea.gov.tw/Mns/dos/home/Home.aspx