家族企業與企業社會責任專一化：以台灣上市公司為例

Abstract

研究發現家族企業由於維護家族名聲、家族控制權和損失厭惡等非經濟因素，家族企業策略行為與非家族企業有所不同。近年學者對於家族企業的社會責任表現漸感興趣，但對於家族企業是否在企業社會責任表現較佳尚未有一致的結論。本研究發現，家族企業雖為了維護家族名聲而有動機從事企業社會責任活動，但是由於家族控制權和損失厭惡特性，家族企業在從事企業社會責任活動時會傾向集中公司資源於活動中的某些面向，而有企業社會責任專一化傾向。而此現象，在家族企業聘任外資董事或發佈企業社會責任報告書時減弱。本研究以 2010年至 2017年台灣上市公司為樣本，從 Thomson Reuters ASSET4 取得企業社會責任資料，迴歸分析所得實證結果均支持所提出的假說。本研究對家族企業、企業社會責任和非市場策略等相關文獻提出貢獻。

Family firms differ from non-family firms in several aspects; these include loss aversion, the need to preserve family reputation, and the desire to maintain family control. While an increasing number of studies are examining the relationship between family firms and corporate social responsibility (CSR), the extant research provides conflicting results. We propose that while family firms have the incentive to engage in CSR, they tend to focus on particular aspects of CSR activities. The relationship between family firms and CSR becomes weaker when firms appoint directors representing foreign institutional investors as well as when they publish CSR reports. To test our arguments, we use a sample of Taiwanese listed firms from 2010 to 2017 and employ CSR data from the Thomson Reuters ASSET4 database, whereby we\r\nfind support for our proposed relationships. Our research makes notable contributions to the relevant literature on family business, CSR, and nonmarket strategy.