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題名 企業社會責任與成本效率之關係-隨機成本邊界法
Does CSR influence the of banking industry?The stochastic cost frontier approach作者 張穎中
Chang, Ying Chung貢獻者 黃台心
Huang, Tai Hsin
張穎中
Chang, Ying Chung關鍵詞 企業社會責任
成本效率
隨機邊界法
Corporat social responsibility
Cost efficiency
Stochastic frontier approch
EIRIS
CSR日期 2017 上傳時間 28-Aug-2017 11:28:20 (UTC+8) 摘要 本論文目的在於探討企業社會責任對於銀行成本效率的影響，其中企業社會責任的部分為使用EIRIS資料庫的而財務資訊的資料是採用OrbisBank的資料庫。先前有許多研究都是著墨在利用不同環境變數對於成本效率的影響,很少有將企業社會責任當作環境變數作為考量進行研究;也少有將企業社會責任與隨機成本邊界法做結合去，去衡量成本效率。現存的研究主要都是以企業社會責任對於公司財務績效的影響。因此本篇論文將重點放在企業社回責任與成本效率之關係，並採用隨機成本邊界法。實證研究結果發現，企業涉略企業社會責任需要長時間的投入才會有在成本上產生效果，並且其效果會隨著地區、國家別的不同而改變。
This paper attempts to examine the effect of corporate social responsibility on cost efficiency, using OrbisBank database and CSR index from EIRIS database. Previous studies are all focused on the efficiency with different environmental variables, excluding corporate social responsibility nor do those studies elaborate the effect of CSR on cost efficiency by using stochastic frontier approach. Instead, existing literatures are all regards to the relation to financial performance and CSR. Therefore, we get the gold opportunity to shed the light on the correlation with CSR and cost efficiency. The empirical results we extract from the paper give us some perspectives on CSR. CSR engagement takes time to have influence on efficiency and it does vary from different countries; therefore, taking country-variation into consideration is essential when estimating efficiency. What’s more, we shouldn’t expect the involvement of CSR is short-term effect instead it’s a long-term investment.參考文獻 Aigner, D., Lovell, C. K., & Schmidt, P. (1977). Formulation and estimation of stochastic frontier production function models. Journal of econometrics, 6(1), 21-37.Aigner, D., Lovell, C. K., & Schmidt, P. (1977). Formulation and estimation of stochastic frontier production function models. Journal of econometrics, 6(1), 21-37.Alafi, K., & Hasoneh, A. B. (2012). Corporate social responsibility associated with customer satisfaction and financial performance a case study with Housing Banks in Jordan. International Journal of Humanities and Social Science, 2(15), 102-115.Alexander, G. J., & Buchholz, R. A. (1978). Corporate social responsibility and stock market performance. Academy of Management journal, 21(3), 479-486.Alhassan, A. L., & Ohene-Asare, K. (2016). Competition and bank efficiency in emerging markets: empirical evidence from Ghana. African Journal of Economic and Management Studies, 7(2), 268-288.Allen, L., & Rai, A. (1996). Operational efficiency in banking: An international comparison. Journal of Banking & Finance, 20(4), 655-672.Barnett, M. L., & Salomon, R. M. (2006). Beyond dichotomy: The curvilinear relationship between social responsibility and financial performance. Strategic Management Journal, 27(11), 1101-1122.Baron, D. P. (2001). Private politics, corporate social responsibility, and integrated strategy. Journal of Economics & Management Strategy, 10(1), 7-45.Barros, C. P., Ferreira, C., & Williams, J. (2007). Analysing the determinants of performance of best and worst European banks: A mixed logit approach. Journal of Banking & Finance, 31(7), 2189-2203.Battese, G. E., & Coelli, T. J. (1992). Frontier production functions, technical efficiency and panel data: with application to paddy farmers in India. In International applications of productivity and efficiency analysis (pp. 149-165). Springer Netherlands.Battese, G. E., & Coelli, T. J. (1995). A model for technical inefficiency effects in a stochastic frontier production function for panel data. Empirical economics, 20(2), 325-332.Berger, A. N., Hancock, D., & Humphrey, D. B. (1993). Bank efficiency derived from the profit function. Journal of Banking & Finance, 17(2), 317-347.Brammer, S., & Pavelin, S. (2004). Building a good reputation. European Management Journal, 22(6), 704-713.Brown, T. J., & Dacin, P. A. (1997). The company and the product: Corporate associations and consumer product responses. The Journal of Marketing, 68-84.Clark, J. A., & Speaker, P. J. (1994). Economies of scale and scope in banking: evidence from a generalized translog cost function. Quarterly Journal of Business and Economics, 3-25.Cornwell, C., Schmidt, P., & Sickles, R. C. (1990). Production frontiers with cross-sectional and time-series variation in efficiency levels. Journal of econometrics, 46(1-2), 185-200.Creyer, E. H. (1997). The influence of firm behavior on purchase intention: do consumers really care about business ethics?. Journal of consumer Marketing, 14(6), 421-432.Dam, L., Koetter, M., & Scholtens, B. (2009). Why do firms do good? Evidence from managerial efficiency.Dietsch, M., & Lozano-Vivas, A. (2000). How the environment determines banking efficiency: A comparison between French and Spanish industries. Journal of Banking & Finance, 24(6), 985-1004.Friedman, M. (2007). The social responsibility of business is to increase its profits. Corporate ethics and corporate governance, 173-178.Fries, S., & Taci, A. (2005). Cost efficiency of banks in transition: Evidence from 289 banks in 15 post-communist countries. Journal of Banking & Finance, 29(1), 55-81.Huang, T. H., & Wang, M. H. (2003). Estimation of technical and allocative inefficiency using Fourier flexible cost frontiers for Taiwan`s banking industry. The Manchester School, 71(3), 341-362.Huang, T. H., & Wang, M. H. (2004). Comparisons of economic inefficiency between output and input measures of technical inefficiency using the Fourier flexible cost function. Journal of Productivity Analysis, 22(1), 123-142.Huang, T. H., Chiang, L. C., & Chen, K. C. (2011). An empirical study of bank efficiencies and technology gaps in European banking. The Manchester School, 79(4), 839-860.Huang, T. H., Shen, C. H., Chen, K. C., & Tseng, S. J. (2011). Measuring technical and allocative efficiencies for banks in the transition countries using the Fourier flexible cost function. Journal of Productivity Analysis, 35(2), 143-157.Keffas, G., & Olulu-Briggs, O. (2011). Corporate social responsibility: how does it affect the financial performance of banks? Empirical evidence from US, UK and Japan. Journal of management and corporate governance, 3(2), 8-26.Kramer, M. R., & Porter, M. (2011). Creating shared value. Harvard business review, 89(1/2), 62-77.Kumbhakar, S. C., & Wang, D. (2007). Economic reforms, efficiency and productivity in Chinese banking. Journal of Regulatory Economics, 32(2), 105-129.Lech, A. (2013). Corporate social responsibility and financial performance. Theoretical and empirical aspects. Comparative economic research, 16(3), 49-62.Levine, R. (2005). Finance and growth: theory and evidence. Handbook of economic growth, 1, 865-934.Lin, J. R., Chung, H., Hsieh, M. H., & Wu, S. (2012). The determinants of interest margins and their effect on bank diversification: Evidence from Asian banks. Journal of Financial Stability, 8(2), 96-106.Margolis, J. D., & Walsh, J. P. (2003). Misery loves companies: Rethinking social initiatives by business. Administrative science quarterly, 48(2), 268-305.Meeusen, W., & van Den Broeck, J. (1977). Efficiency estimation from Cobb-Douglas production functions with composed error. International economic review, 435-444.Mester, L. J. (1993). Efficiency in the savings and loan industry. Journal of Banking & Finance, 17(2-3), 267-286.Nejati, M., & Ghasemi, S. (2012). Corporate social responsibility in Iran from the perspective of employees. Social Responsibility Journal, 8(4), 578-588.Orlitzky, M., Schmidt, F. L., & Rynes, S. L. (2003). Corporate social and financial performance: A meta-analysis. Organization studies, 24(3), 403-441.Orlitzky, M., Schmidt, F. L., & Rynes, S. L. (2003). Corporate social and financial performance: A meta-analysis. Organization studies, 24(3), 403-441.Rettab, B., Brik, A. B., & Mellahi, K. (2009). A study of management perceptions of the impact of corporate social responsibility on organisational performance in emerging economies: the case of Dubai. Journal of Business Ethics, 89(3), 371-390.Russo, M. V., & Fouts, P. A. (1997). A resource-based perspective on corporate environmental performance and profitability. Academy of management Journal, 40(3), 534-559.Schmidt, P., & Sickles, R. C. (1984). Production frontiers and panel data. Journal of Business & Economic Statistics, 2(4), 367-374.Shen, C. H., & Lee, C. C. (2006). Same financial development yet different economic growth: why?. Journal of Money, Credit and Banking, 1907-1944.Shiu, Y. M., & Yang, S. L. (2017). Does engagement in corporate social responsibility provide strategic insurance‐like effects?. Strategic Management Journal, 38(2), 455-470.Simpson, W. G., & Kohers, T. (2002). The link between corporate social and financial performance: Evidence from the banking industry. Journal of business ethics, 35(2), 97-109.Vance, S. C. (1975). Are socially responsible corporations good investment risks. Management review, 64(8), 19-24.Walley, N., & Whitehead, B. (1994). It`s not easy being green. Reader in Business and the Environment, 36, 81.Weill, L. (2013). Bank competition in the EU: How has it evolved?. Journal of International Financial Markets, Institutions and Money, 26, 100-112.Wu, M. W., & Shen, C. H. (2013). Corporate social responsibility in the banking industry: Motives and financial performance. Journal of Banking & Finance, 37(9), 3529-3547.Yang, S. L. (2016). Corporate social responsibility and an enterprise’s operational efficiency: considering competitor’s strategies and the perspectives of long-term engagement. Quality & Quantity, 50(6), 2553-2569. 描述 碩士
國立政治大學
金融學系
104352008資料來源 http://thesis.lib.nccu.edu.tw/record/#G1043520081 資料類型 thesis dc.contributor.advisor 黃台心 zh_TW dc.contributor.advisor Huang, Tai Hsin en_US dc.contributor.author (Authors) 張穎中 zh_TW dc.contributor.author (Authors) Chang, Ying Chung en_US dc.creator (作者) 張穎中 zh_TW dc.creator (作者) Chang, Ying Chung en_US dc.date (日期) 2017 en_US dc.date.accessioned 28-Aug-2017 11:28:20 (UTC+8) - dc.date.available 28-Aug-2017 11:28:20 (UTC+8) - dc.date.issued (上傳時間) 28-Aug-2017 11:28:20 (UTC+8) - dc.identifier (Other Identifiers) G1043520081 en_US dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/112162 - dc.description (描述) 碩士 zh_TW dc.description (描述) 國立政治大學 zh_TW dc.description (描述) 金融學系 zh_TW dc.description (描述) 104352008 zh_TW dc.description.abstract (摘要) 本論文目的在於探討企業社會責任對於銀行成本效率的影響，其中企業社會責任的部分為使用EIRIS資料庫的而財務資訊的資料是採用OrbisBank的資料庫。先前有許多研究都是著墨在利用不同環境變數對於成本效率的影響,很少有將企業社會責任當作環境變數作為考量進行研究;也少有將企業社會責任與隨機成本邊界法做結合去，去衡量成本效率。現存的研究主要都是以企業社會責任對於公司財務績效的影響。因此本篇論文將重點放在企業社回責任與成本效率之關係，並採用隨機成本邊界法。實證研究結果發現，企業涉略企業社會責任需要長時間的投入才會有在成本上產生效果，並且其效果會隨著地區、國家別的不同而改變。 zh_TW dc.description.abstract (摘要) This paper attempts to examine the effect of corporate social responsibility on cost efficiency, using OrbisBank database and CSR index from EIRIS database. Previous studies are all focused on the efficiency with different environmental variables, excluding corporate social responsibility nor do those studies elaborate the effect of CSR on cost efficiency by using stochastic frontier approach. Instead, existing literatures are all regards to the relation to financial performance and CSR. Therefore, we get the gold opportunity to shed the light on the correlation with CSR and cost efficiency. The empirical results we extract from the paper give us some perspectives on CSR. CSR engagement takes time to have influence on efficiency and it does vary from different countries; therefore, taking country-variation into consideration is essential when estimating efficiency. What’s more, we shouldn’t expect the involvement of CSR is short-term effect instead it’s a long-term investment. en_US dc.description.tableofcontents 1. Introduction 12. Literature Review 33. Methodology 73.1 Translog cost function 73.2 CSR hypothesis 93.3 Economies of scale (SE) 93.4 Cost efficiency 104. Data description 104.1 Data sources 105. Empirical results 186. Conclusion 237.Reference 298.Appendix 28 zh_TW dc.format.extent 1163827 bytes - dc.format.mimetype application/pdf - dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G1043520081 en_US dc.subject (關鍵詞) 企業社會責任 zh_TW dc.subject (關鍵詞) 成本效率 zh_TW dc.subject (關鍵詞) 隨機邊界法 zh_TW dc.subject (關鍵詞) Corporat social responsibility en_US dc.subject (關鍵詞) Cost efficiency en_US dc.subject (關鍵詞) Stochastic frontier approch en_US dc.subject (關鍵詞) EIRIS en_US dc.subject (關鍵詞) CSR en_US dc.title (題名) 企業社會責任與成本效率之關係-隨機成本邊界法 zh_TW dc.title (題名) Does CSR influence the of banking industry?The stochastic cost frontier approach en_US dc.type (資料類型) thesis en_US dc.relation.reference (參考文獻) Aigner, D., Lovell, C. K., & Schmidt, P. (1977). Formulation and estimation of stochastic frontier production function models. Journal of econometrics, 6(1), 21-37.Aigner, D., Lovell, C. K., & Schmidt, P. (1977). Formulation and estimation of stochastic frontier production function models. Journal of econometrics, 6(1), 21-37.Alafi, K., & Hasoneh, A. B. (2012). Corporate social responsibility associated with customer satisfaction and financial performance a case study with Housing Banks in Jordan. International Journal of Humanities and Social Science, 2(15), 102-115.Alexander, G. J., & Buchholz, R. A. (1978). Corporate social responsibility and stock market performance. Academy of Management journal, 21(3), 479-486.Alhassan, A. L., & Ohene-Asare, K. (2016). Competition and bank efficiency in emerging markets: empirical evidence from Ghana. African Journal of Economic and Management Studies, 7(2), 268-288.Allen, L., & Rai, A. (1996). Operational efficiency in banking: An international comparison. Journal of Banking & Finance, 20(4), 655-672.Barnett, M. L., & Salomon, R. M. (2006). Beyond dichotomy: The curvilinear relationship between social responsibility and financial performance. Strategic Management Journal, 27(11), 1101-1122.Baron, D. P. (2001). Private politics, corporate social responsibility, and integrated strategy. Journal of Economics & Management Strategy, 10(1), 7-45.Barros, C. P., Ferreira, C., & Williams, J. (2007). Analysing the determinants of performance of best and worst European banks: A mixed logit approach. Journal of Banking & Finance, 31(7), 2189-2203.Battese, G. E., & Coelli, T. J. (1992). Frontier production functions, technical efficiency and panel data: with application to paddy farmers in India. In International applications of productivity and efficiency analysis (pp. 149-165). Springer Netherlands.Battese, G. E., & Coelli, T. J. (1995). A model for technical inefficiency effects in a stochastic frontier production function for panel data. Empirical economics, 20(2), 325-332.Berger, A. N., Hancock, D., & Humphrey, D. B. (1993). Bank efficiency derived from the profit function. Journal of Banking & Finance, 17(2), 317-347.Brammer, S., & Pavelin, S. (2004). Building a good reputation. European Management Journal, 22(6), 704-713.Brown, T. J., & Dacin, P. A. (1997). The company and the product: Corporate associations and consumer product responses. The Journal of Marketing, 68-84.Clark, J. A., & Speaker, P. J. (1994). Economies of scale and scope in banking: evidence from a generalized translog cost function. Quarterly Journal of Business and Economics, 3-25.Cornwell, C., Schmidt, P., & Sickles, R. C. (1990). Production frontiers with cross-sectional and time-series variation in efficiency levels. Journal of econometrics, 46(1-2), 185-200.Creyer, E. H. (1997). The influence of firm behavior on purchase intention: do consumers really care about business ethics?. Journal of consumer Marketing, 14(6), 421-432.Dam, L., Koetter, M., & Scholtens, B. (2009). Why do firms do good? Evidence from managerial efficiency.Dietsch, M., & Lozano-Vivas, A. (2000). How the environment determines banking efficiency: A comparison between French and Spanish industries. Journal of Banking & Finance, 24(6), 985-1004.Friedman, M. (2007). The social responsibility of business is to increase its profits. Corporate ethics and corporate governance, 173-178.Fries, S., & Taci, A. (2005). Cost efficiency of banks in transition: Evidence from 289 banks in 15 post-communist countries. Journal of Banking & Finance, 29(1), 55-81.Huang, T. H., & Wang, M. H. (2003). Estimation of technical and allocative inefficiency using Fourier flexible cost frontiers for Taiwan`s banking industry. The Manchester School, 71(3), 341-362.Huang, T. H., & Wang, M. H. (2004). Comparisons of economic inefficiency between output and input measures of technical inefficiency using the Fourier flexible cost function. Journal of Productivity Analysis, 22(1), 123-142.Huang, T. H., Chiang, L. C., & Chen, K. C. (2011). An empirical study of bank efficiencies and technology gaps in European banking. The Manchester School, 79(4), 839-860.Huang, T. H., Shen, C. H., Chen, K. C., & Tseng, S. J. (2011). Measuring technical and allocative efficiencies for banks in the transition countries using the Fourier flexible cost function. Journal of Productivity Analysis, 35(2), 143-157.Keffas, G., & Olulu-Briggs, O. (2011). Corporate social responsibility: how does it affect the financial performance of banks? Empirical evidence from US, UK and Japan. Journal of management and corporate governance, 3(2), 8-26.Kramer, M. R., & Porter, M. (2011). Creating shared value. Harvard business review, 89(1/2), 62-77.Kumbhakar, S. C., & Wang, D. (2007). Economic reforms, efficiency and productivity in Chinese banking. Journal of Regulatory Economics, 32(2), 105-129.Lech, A. (2013). Corporate social responsibility and financial performance. Theoretical and empirical aspects. Comparative economic research, 16(3), 49-62.Levine, R. (2005). Finance and growth: theory and evidence. Handbook of economic growth, 1, 865-934.Lin, J. R., Chung, H., Hsieh, M. H., & Wu, S. (2012). The determinants of interest margins and their effect on bank diversification: Evidence from Asian banks. Journal of Financial Stability, 8(2), 96-106.Margolis, J. D., & Walsh, J. P. (2003). Misery loves companies: Rethinking social initiatives by business. Administrative science quarterly, 48(2), 268-305.Meeusen, W., & van Den Broeck, J. (1977). Efficiency estimation from Cobb-Douglas production functions with composed error. International economic review, 435-444.Mester, L. J. (1993). Efficiency in the savings and loan industry. Journal of Banking & Finance, 17(2-3), 267-286.Nejati, M., & Ghasemi, S. (2012). Corporate social responsibility in Iran from the perspective of employees. Social Responsibility Journal, 8(4), 578-588.Orlitzky, M., Schmidt, F. L., & Rynes, S. L. (2003). Corporate social and financial performance: A meta-analysis. Organization studies, 24(3), 403-441.Orlitzky, M., Schmidt, F. L., & Rynes, S. L. (2003). Corporate social and financial performance: A meta-analysis. Organization studies, 24(3), 403-441.Rettab, B., Brik, A. B., & Mellahi, K. (2009). A study of management perceptions of the impact of corporate social responsibility on organisational performance in emerging economies: the case of Dubai. Journal of Business Ethics, 89(3), 371-390.Russo, M. V., & Fouts, P. A. (1997). A resource-based perspective on corporate environmental performance and profitability. Academy of management Journal, 40(3), 534-559.Schmidt, P., & Sickles, R. C. (1984). Production frontiers and panel data. Journal of Business & Economic Statistics, 2(4), 367-374.Shen, C. H., & Lee, C. C. (2006). Same financial development yet different economic growth: why?. Journal of Money, Credit and Banking, 1907-1944.Shiu, Y. M., & Yang, S. L. (2017). Does engagement in corporate social responsibility provide strategic insurance‐like effects?. Strategic Management Journal, 38(2), 455-470.Simpson, W. G., & Kohers, T. (2002). The link between corporate social and financial performance: Evidence from the banking industry. Journal of business ethics, 35(2), 97-109.Vance, S. C. (1975). Are socially responsible corporations good investment risks. Management review, 64(8), 19-24.Walley, N., & Whitehead, B. (1994). It`s not easy being green. Reader in Business and the Environment, 36, 81.Weill, L. (2013). Bank competition in the EU: How has it evolved?. Journal of International Financial Markets, Institutions and Money, 26, 100-112.Wu, M. W., & Shen, C. H. (2013). Corporate social responsibility in the banking industry: Motives and financial performance. Journal of Banking & Finance, 37(9), 3529-3547.Yang, S. L. (2016). Corporate social responsibility and an enterprise’s operational efficiency: considering competitor’s strategies and the perspectives of long-term engagement. Quality & Quantity, 50(6), 2553-2569. zh_TW
