Please use this identifier to cite or link to this item: https://ah.lib.nccu.edu.tw/handle/140.119/60045
題名: 台灣企業社會責任之保險價值
The insurance value of corporate social responsibility in Taiwan
作者: 張智媛
Chih-Yuan, Chang
貢獻者: 陳彩稚
張智媛
Chih-Yuan, Chang
關鍵詞: 企業社會責任
保險價值
負面事件
Corporate Social Responsibility
CSR
Insurance
Negative Event
日期: 2011
上傳時間: 4-Sep-2013
摘要: 本研究探討實行企業社會責任(Corporate Social Responsibility, CSR)之公司,相對於未實行企業社會責任之公司,在面對負面事件時,是否有受到較小程度之負面衝擊,亦即企業社會責任之實踐是否為公司帶來類似保險作用之保障價值。\n本研究以2005年至2010年為樣本期間,台灣上市、上櫃公司為分析對象,取得負面事件樣本點共791筆。藉由計算負面事件前後之收盤股價變動率,與事件研究法(Event Study)之負面事件累積異常報酬,來評估公司所面臨之負面事件衝擊程度。此外,並進一步將整體樣本依公司特性與負面事件型態予以區分為各種子樣本,以探討於不同情況下,公司實行企業社會責任所帶來之保險價值是否有所不同。\n本研究實證結果發現,台灣企業實行企業社會責任確實能為企業提供防禦負面事件衝擊之保護作用,產生保險價值。此外,實證結果並指出企業社會責任能為高無形資產公司及安全型負面事件帶來更高之保險價值。
This paper intends to study the impact of Corporate Social Responsibility (CSR) on protecting the decline in shareholder value for firms encountering negative events, i.e., the insurance value. This thesis uses a sample of 791 negative events disclosed during years 2005-2010 from TEJ database to examine whether CSR has insurance value for the public firms in Taiwan. Furthermore, the data are grouped into different subsamples according to firm characteristics and event types to examine the insurance value of CSR.\nThe empirical results show that CSR does provide the insurance value for the firms in Taiwan when they encounter negative events. Besides, the empirical results indicate that CSR provides more insurance value for the high-intangible-asset firms and the safety-related negative events.
參考文獻: 沈中華、李建然(2000),「事件研究法:財務與會計實證研究必備」,華泰文化事業公司。\n康峰菁(2003),「企業社會責任、財務績效與盈餘管理之國際實證研究」,國立台北大學合作經濟研究所碩士論文。\n張元(2011),「社會責任公司有較高的股票報酬嗎?」,輔仁管理評論第十八卷第一期,79-118。\n陳姿伶(2009),「企業社會責任與企業財務績效、高階經理人薪酬結構之關聯性分析」,國立政治大學企業管理研究所碩士論文。\n劉昱菁(2009),「台灣企業社會責任得獎公司之財務績效探討」,國立成功大學財務金融研究所碩士論文。\nBrown, S. J., and Warner, J. B. (1985), “Using Daily Stock Returns: The Case of Event Studies,” Journal of Financial Economics, 14(1), 3-31.\nChoi, J. S., Kwak, Y. M., & Choe, C. (2010), “Corporate Social Responsibility and Corporate Financial Performance: Evidence from Korea,” Australian Journal of Management, 35(3), 291-311.\nClinebell, S., and Clinebell, J. (1994), “The Effect of Advance Notice of Plant Closings on Firm Value,” Journal of Management, 20(3), 553-553.\nCommission of the European Communities (2001), “Promoting a European Framework for Corporate Social Responsibility,” European Union Green Paper, 1-32.\nCornell, B., and Shapiro, A. (1987), “Corporate Stakeholders and Corporate Finance,” Financial Management, 16(1), 5-5.\nDacin, P., and Brown, T. (1997), “The Company and the Product: Corporate Associations and Consumer Product Responses,” Journal of Marketing, 61(1), 68-84.\nDavidson, W., and Worrell, D. (1992). “Reasearch Notes and Communications: The Effect of Product Recall Announcements on Shareholder Wealth,” Strategic Management Journal, 13(6), 467-467.\nDavis, K. (1973), “The Case for and against Business Assumptions of Social Responsibilities,” Academy of Management Journal, 16(2), 312-322.\nFerrell, O. C., Fraedrich, J., and Ferrell, L. (2000), “Business Ethics: Ethical Decision Making and Cases,” Boston, Mass.: Houghton Mifflin.\nGodfrey, P., Merrill, C., and Hansen, J. (2009), “The Relationship between Corporate Social Responsibility and Shareholder Value: An Empirical Test of the Risk Management Hypothesis,” Strategic Management Journal, 30(4), 425-445.\nLee, M., Fairhurst, A., and Wesley, S. (2009), “Corporate Social Responsibility: A Review of the Top 100 US Retailers,” Corporate Reputation Review, 12(2), 140-158.\nLópez, M., Garcia, A., and Rodriguez, L. (2007), “Sustainable Development and Corporate Performance: A Study Based on the Dow Jones Sustainability Index,” Journal of Business Ethics, 75, 285-300.\nMcWilliams, A., and Siegel, D. (2001), “Corporate Social Responsibility: A Theory of the Firm Perspective,” Academy of Management Review, 26(1), 117-127.\nMill, G. (2006), “The Financial Performance of a Socially Responsible Investment Over Time and a Possible Link with Corporate Social Responsibility,” Journal of Business Ethics, 63(2), 131-148.\nPeloza, J. (2006), “Using Corporate Social Responsibility as Insurance for Financial Performance,” California Management Review, 48(2), 52-72.\nPeterson, P. P. (1989), “Event Studies: A Review of Issues and Methodology,” Quarterly Journal of Business and Economics, 28(3), 36-66.\nSheldon, O. (1923), “The Philosophy of Management,” London: SIR ISAAC PITMAN and SONS, LTD.\nSoana, M. (2011), “The Relationship between Corporate Social Performance and Corporate Financial Performance in the Banking Sector,” Journal of Business Ethics, 104(1), 133-148.
描述: 碩士
國立政治大學
風險管理與保險研究所
98358005
100
資料來源: http://thesis.lib.nccu.edu.tw/record/#G0098358005
資料類型: thesis
Appears in Collections:學位論文

Files in This Item:
File Description SizeFormat
800501.pdf600.21 kBAdobe PDF2View/Open
Show full item record

Google ScholarTM

Check


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.