Corporate Social Responsibility and Financial Performance: Evidence from MNCs of Taiwan 陳致匡、田正利
E-mail: 9806550@mail.dyu.edu.tw
ABSTRACT
Under the impact of business scandals and financial crisis, multinational corporations (MNCs) have perceived gradually that Corporate Social Responsibility (CSR) pressure in the global operations. However the relationship of CSR and Corporate Finance Performance (CFP) has already produced mix results, therefore it is necessary further to discuss them.
This study explored the relationship of CSR and CFP by using CW's “Excellence in Corporate Social Responsibility Top 50” and Taiwan Economic Journal Co., Ltd (TEJ) financial database. After collecting these data for the form of panel data, this study set laggard period of one year. Then, this study discussed Taiwan's multinational corporations (MNCs) of continual three years were all selected from 2006 to 2008 of CW's Excellence in Corporate Social Responsibility Top 50.
After using the STATA's linear autoregressive analysis, these findings contain (1) past CFP is positively associated with concurrent CSR (2) past CFP is positively associated with concurrent Corporate Commitment (3) past CFP is negatively associated with
concurrent CFP. Finally, according to above results, this study also proposed several implications and suggestions for further research to discuss them.
Keywords : corporate social responsibility、corporate financial performance、multinational corporations、panel data Table of Contents
中文摘要 ．．．．．．．．．．．．．．．．．．．．． iii 英文摘要 ．．．．．．．．．．．．．．．．．．．．． iv 誌謝辭 ．．．．．．．．．．．．．．．．．．．．． v 內容目錄 ．．．．．．．．．．．．．．．．．．．．． vi 表目錄 ．．．．．．．．．．．．．．．．．．．．． viii 圖目錄 ．．．．．．．．．．．．．．．．．．．．． ix 第一章 緒論．．．．．．．．．．．．．．．．．．． 1 第一節 研究背景與動機．．．．．．．．．．．． 1 第二節 研究目的．．．．．．．．．．．．．．． 3 第二章 文獻回顧．．．．．．．．．．．．．．．．． 4 第一節 企業社會責任．．．．．．．．．．．．． 4
第二節 當期企業社會責任、公司治理、企業承諾、社會參與、環境保護對當期公司財務績效．． 5 第三節 前期公司財務績效對當期企業社會責任、公司治理、企業承諾、社會參與、環境保護．． 6 第四節 前期公司財務績效對當期公司財務績效．． 7
第三章 研究方法．．．．．．．．．．．．．．．．． 8 第一節 研究架構．．．．．．．．．．．．．．． 8 第二節 研究樣本與資料．．．．．．．．．．．． 9 第三節 操作性定義．．．．．．．．．．．．．． 9 第四節 分析方法．．．．．．．．．．．．．．． 11 第四章 研究結果．．．．．．．．．．．．．．．．． 12 第一節 敘述統計與Pearson相關係數分析．．．． 12 第二節 線性迴歸分析．．．．．．．．．．．．． 14 第五章 結論與建議．．．．．．．．．．．．．．．． 24 第一節 研究結論．．．．．．．．．．．．．．． 24 第二節 管理意涵．．．．．．．．．．．．．．． 26 第三節 研究限制與建議．．．．．．．．．．．． 27 參考文獻．．．．．．．．．．．．．．．．．．．．．． 30
附錄A．．．．．．．．．．．．．．．．．．．．．．． 49 附錄B．．．．．．．．．．．．．．．．．．．．．．． 51 附錄C．．．．．．．．．．．．．．．．．．．．．．． 53 REFERENCES
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