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題名 ESG 和員工效率之關聯性研究－兼論員工搭便車風險與企業國際化程度之調節效果
The Relationship between ESG and Labor Efficiency: Moderating Effects of Labor Free Rider Risk and International Diversification
作者 邱美如
CHIU, MEI-JU
貢獻者 李佳玲
Lee, Chia-Ling
邱美如
CHIU, MEI-JU
關鍵詞 ESG
員工效率
員工生產力
員工成本
ESG
Labor efficiency
Labor productivity
Labor cost
日期 2022
上傳時間 1-Aug-2022 17:06:19 (UTC+8)
摘要 本研究旨在探討企業 ESG 績效與員工效率、生產力及成本之關聯性，並以員工搭便車風險和企業國際化程度作為調節因子，探討其影響。本研究使用 2010- 2019 間，臺灣 116 家上市公司，共 1,212 筆年有效樣本進行實證研究，並得出以下研究結果：ESG 和員工效率、生產力呈顯著負向關係、和員工成本呈顯著正向關係，另外於員工搭便車風險高的狀況下，可以調節 ESG 和員工生產力、成本之關聯性；企業國際化程度愈高，也具有調節 ESG 和員工效率、生產力關聯性的效果。
This study aims to understand the relationship among firm’s ESG performance and labor efficiency, labor productivity, labor cost. Also, we examine the moderating effect of labor free rider risk and international diversification. Using the sample of 116 Taiwan public firms during 2010 to 2019, and in total with 1,212 firm-year samples, the results indicate that the relationship between ESG performance and labor efficiency, labor productivity is significantly negative, and the relationship between ESG performance and labor cost is significantly positive. Further, the firms with high labor free rider risk strengthen the negative relationship between ESG performance and labor productivity, labor cost. The firms with high international diversification weaken the negative relationship between ESG performance and labor efficiency, labor productivity.
參考文獻 Albinger, H. S. and Freeman, S. J. 2000. Corporate Social Performance and Attractiveness as an Employer to Different Job Seeking Populations. Journal of Business Ethics 28: 243-253.
     
     Barnea, A. and A. Rubin. 2010. Corporate Social Responsibility as a Conflict Between Shareholders. Journal of Business Ethics 97(1): 71-86.
     
     Basu, S., J. Vitanza, W. Wang. and X. Zhu. 2022. Walking the Walk? Bank ESG Disclosures and Home Mortgage Lending. Review of Accounting Studies Forthcoming.
     
     Bhattacharya, C. B. and S. Sen. 2003. Consumer–Company Identification: A Framework for Understanding Consumers’ Relationships with Companies. Journal of Marketing 67: 76-88.
     
     Bonner, S. E. and G. B. Sprinkle. 2002. The Effects of Monetary Incentives on Effort and Task Performance: Theories, Evidence, and a Framework for Research. Accounting, Organizations & Society 27: 303–345.
     
     Brammer, S. J., Pavelin, S. and Porter, L. A. 2009. Corporate Charitable Giving, Multinational Companies and Countries of Concern. Journal of Management Studies 46(4): 575-596.
     
     Chang, X., Fu, K., Low, A., and Zhang, W. 2015. Non-executive employee stock options and corporate innovation. Journal of Financial Economics 115(1): 168-188.
     
     Chatterji, M. and C. J. Tilley. 2002. Sickness, Absenteeism, Presenteeism, and Sick Pay. Oxford Economic Papers 54: 669–687.
     
     Chiaramonte, L., A. Dreassi, C. Girardone and S. Piserà. 2021. Do ESG strategies enhance bank stability during financial turmoil? Evidence from Europe. The European Journal of Finance: 1-39.
     
     Christmann, P. 2004. Multinational Companies and the Natural Environment: Determinants of Global Environmental Policy. Academy of Management Journal 47: 747–760.
     
     Greening, D. W. and Turban, D. B. 2000. Corporate Social Performance as a Competitive Advantage in Attracting a Quality Workforce. Business and Society 39: 254-280.
     
     McWilliams, A. and Siegel, D. 2000. Corporate social responsibility and financial performance: correlation or misspecification? Strategic Management Journal 21: 603–609.
     
     Montgomery, D. B. and C. A. Ramus. 2003. Corporate Social Responsibility Reputation Effects on MBA Job Choice. Stanford Graduate School of Business Research Paper No. 1805.
     
     Delmas, M. A. and S. Pekovic. 2013. Environmental standards and labor productivity: Understanding the mechanisms that sustain sustainability. Journal of Organizational Behavior 34(2): 230-252.
     
     Edmans, A. 2011. Does the stock market fully value intangibles? Employee satisfaction and equity prices. Journal of Financial Economics 101(3): 621-640.
     
     Fombrun, C. J. 1996. Reputation: Realizing Value from the Corporate Image. (Harvard Business School Press, Bos- ton, MA).
     
     Godfrey, P. C., C. B. Merrill and J. Hansen. 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.
     
     Harter, J.K., Schmidt, F.L. and Hayes, T.L. 2002.Business-unit-level relationship between employee satisfaction, employee engagement, and business outcomes: A meta-analysis. Journal of Applied Psychology 87(2): 268-279.
     
     Hitt, M. A., Hoskisson, R. E. and Kim, H. 1997. International Diversification: Effects on Innovation and Firm Performance in Product- Diversified Firms. The Academy of Management Journal 40: 767-798.
     
     Husted, B. W. 2005. Risk Management, Real Options, Corporate Social Responsibility. Journal of Business Ethics 60(2): 175-183.
     
     Hwang, J., H. Kim. and D. Jung. 2021. The Effect of ESG Activities on Financial Performance during the COVID-19 Pandemic—Evidence from Korea. Sustainability 13(20).
     
     Aupperle, K. E., Carroll, A. B. and Hatfield, J. D. 1985. An Empirical Examination of the Relationship between Corporate Social Responsibility and Profitability. The Academy of Management Journal 28: 446-463
     
     Klein, J. and N. Dawar. 2004. Corporate social responsibility and consumers` attributions and brand evaluations in a product–harm crisis. International Journal of Research in Marketing 21(3): 203-217.
     
     Kostova, T. and S. Zaheer. 1999. Organizational Legitimacy under Conditions of Complexity: The Case of the Multinational Enterprise. The Academy of Management Review 24: 64-81.
     
     Lannelongue, G., J. Gonzalez-Benito. and I. Quiroz. 2017. Environmental management and labour productivity: The moderating role of capital intensity. J Environ Manage 190: 158-169.
     
     Luo, Y. and R. L. Tung. 2017. A general theory of springboard MNEs. Journal of International Business Studies 49(2): 129-152.
     
     Lys, T., J. P. Naughton and C. Wang. 2015. Signaling through corporate accountability reporting. Journal of Accounting and Economics 60: 56-72.
     
     Maignan, I. and O. C. Ferrell. 2001. Antecedents and benefits of corporate citizenship: an investigation of French businesses. Journal of Business Research 51: 37-51.
     
     Peloza, J. 2006. Using Corporate Social Responsibility as Insurance for Financial Performance. California Management Review 48: 52-72.
     
     Peterson, D. K. 2016. The Relationship between Perceptions of Corporate Citizenship and Organizational Commitment. Business & Society 43(3): 296-319.
     
     Prashantham, S. and J. Birkinshaw. 2015. Choose Your Friends Carefully: Home-Country Ties and New Venture Internationalization. Management International Review 55(2): 207-234.
     
     Rego, A., Ribeiro, N. and Cunha, M. P. 2009. Perceptions of Organizational Virtuousness and Happiness as Predictors of Organizational Citizenship Behaviors. Journal of Business Ethics 93(2): 215-235.
     
     Eccles, R. G., Ioannou, I. and Serafeim, G. 2014. The Impact of Corporate Sustainability on Organizational Processes and Performance. Management Science 60(11): 2835–2857.
     
     Roberts, P. W. and G. R. Dowling. 2002. Corporate reputation and sustained superior financial performance. Strategic Management Journal 23(12): 1077-1093.
     
     Sánchez, P. E. and S. Benito-Hernández. 2013. CSR Policies: Effects on Labour Productivity in Spanish Micro and Small Manufacturing Companies. Journal of Business Ethics 128(4): 705-724.
     
     Sassen, R., Hinze, AK. and Hardeck, I. 2016. Impact of ESG factors on firm risk in Europe. Journal of Business Economics 86(8): 867-904.
     
     Scott, W. R. 1995. Institutions and organizations. California: Sage.
     
     Sharfman, M. P., Shaft, T. M. and Tihanyi, L. 2016. A Model of the Global and Institutional Antecedents of High-Level Corporate Environmental Performance. Business & Society 43(1): 6-36.
     
     Stuebs, M. and L. Sun. 2010. Business Reputation and Labor Efficiency, Productivity, and Cost. Journal of Business Ethics 96(2): 265-283.
     
     Sun, L. and T. R. Yu. 2015. The impact of corporate social responsibility on employee performance and cost. Review of Accounting and Finance 14(3): 262-284.
     
     Surroca, J. and J. A. Tribó. 2008. Managerial Entrenchment and Corporate Social Performance. Journal of Business Finance & Accounting 35(5-6): 748-789.
     
     Tajfel, H. and J. C. Turner. 1985. The Social Identity Theory of Intergroup Behaviour: 7- 24.
     
     Tarmuji, I., Maelah, R. and Tarmuji, N. 2016. The Impact of Environmental, Social and Governance Practices (ESG) on Economic Performance: Evidence from ESG Score. International Journal of Trade, Economics and Finance 7: 67-74.
     
     Turban, D. B. and D. W. Greening 1997. Corporate Social Performance and Organizational Attractiveness to Prospective Employees. The Academy of Management Journal 40: 658-672.
     
     Velte, Patrick. 2017. Does ESG performance have an impact on financial performance? Evidence from Germany. Journal of Global Responsibility 8.
描述 碩士
國立政治大學
會計學系
109353002
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0109353002
資料類型 thesis
dc.contributor.advisor 李佳玲zh_TW
dc.contributor.advisor Lee, Chia-Lingen_US
dc.contributor.author (Authors) 邱美如zh_TW
dc.contributor.author (Authors) CHIU, MEI-JUen_US
dc.creator (作者) 邱美如zh_TW
dc.creator (作者) CHIU, MEI-JUen_US
dc.date (日期) 2022en_US
dc.date.accessioned 1-Aug-2022 17:06:19 (UTC+8)-
dc.date.available 1-Aug-2022 17:06:19 (UTC+8)-
dc.date.issued (上傳時間) 1-Aug-2022 17:06:19 (UTC+8)-
dc.identifier (Other Identifiers) G0109353002en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/140979-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 會計學系zh_TW
dc.description (描述) 109353002zh_TW
dc.description.abstract (摘要) 本研究旨在探討企業 ESG 績效與員工效率、生產力及成本之關聯性，並以員工搭便車風險和企業國際化程度作為調節因子，探討其影響。本研究使用 2010- 2019 間，臺灣 116 家上市公司，共 1,212 筆年有效樣本進行實證研究，並得出以下研究結果：ESG 和員工效率、生產力呈顯著負向關係、和員工成本呈顯著正向關係，另外於員工搭便車風險高的狀況下，可以調節 ESG 和員工生產力、成本之關聯性；企業國際化程度愈高，也具有調節 ESG 和員工效率、生產力關聯性的效果。zh_TW
dc.description.abstract (摘要) This study aims to understand the relationship among firm’s ESG performance and labor efficiency, labor productivity, labor cost. Also, we examine the moderating effect of labor free rider risk and international diversification. Using the sample of 116 Taiwan public firms during 2010 to 2019, and in total with 1,212 firm-year samples, the results indicate that the relationship between ESG performance and labor efficiency, labor productivity is significantly negative, and the relationship between ESG performance and labor cost is significantly positive. Further, the firms with high labor free rider risk strengthen the negative relationship between ESG performance and labor productivity, labor cost. The firms with high international diversification weaken the negative relationship between ESG performance and labor efficiency, labor productivity.en_US
dc.description.tableofcontents 壹、 緒論 1
     一、 研究背景 1
     二、 研究動機與目的 3
     三、 研究架構 4
     貳、 文獻探討 5
     一、 ESG 相關文獻 5
     二、 ESG 與員工效率、生產力、成本之相關文獻 6
     三、 ESG 與員工效率、生產力、成本之調節因子-員工搭便車風險之影響 7
     四、 ESG 與員工效率、生產力、成本之調節因子-企業國際化程度之影響 9
     參、 研究方法 12
     一、 資料來源 12
     二、 變數衡量 13
     三、 實證模型 16
     四、 敘述性統計 18
     五、 相關係數分析 20
     肆、 研究結果 22
     一、 ESG 與員工效率、生產力與成本 22
     二、 員工搭便車風險對 ESG 和員工效率、生產力、成本關聯性之影響 24
     三、 企業國際化程度對 ESG 和員工效率、生產力、成本關聯性之影響 26
     四、 進一步分析 28
     伍、研究結論與建議 31
     一、 研究結論 31
     二、 貢獻與建議 31
     三、 研究限制 32
     附錄 33
     參考文獻 39		zh_TW
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0109353002en_US
dc.subject (關鍵詞) ESGzh_TW
dc.subject (關鍵詞) 員工效率zh_TW
dc.subject (關鍵詞) 員工生產力zh_TW
dc.subject (關鍵詞) 員工成本zh_TW
dc.subject (關鍵詞) ESGen_US
dc.subject (關鍵詞) Labor efficiencyen_US
dc.subject (關鍵詞) Labor productivityen_US
dc.subject (關鍵詞) Labor costen_US
dc.title (題名) ESG 和員工效率之關聯性研究－兼論員工搭便車風險與企業國際化程度之調節效果zh_TW
dc.title (題名) The Relationship between ESG and Labor Efficiency: Moderating Effects of Labor Free Rider Risk and International Diversificationen_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) Albinger, H. S. and Freeman, S. J. 2000. Corporate Social Performance and Attractiveness as an Employer to Different Job Seeking Populations. Journal of Business Ethics 28: 243-253.
     
     Barnea, A. and A. Rubin. 2010. Corporate Social Responsibility as a Conflict Between Shareholders. Journal of Business Ethics 97(1): 71-86.
     
     Basu, S., J. Vitanza, W. Wang. and X. Zhu. 2022. Walking the Walk? Bank ESG Disclosures and Home Mortgage Lending. Review of Accounting Studies Forthcoming.
     
     Bhattacharya, C. B. and S. Sen. 2003. Consumer–Company Identification: A Framework for Understanding Consumers’ Relationships with Companies. Journal of Marketing 67: 76-88.
     
     Bonner, S. E. and G. B. Sprinkle. 2002. The Effects of Monetary Incentives on Effort and Task Performance: Theories, Evidence, and a Framework for Research. Accounting, Organizations & Society 27: 303–345.
     
     Brammer, S. J., Pavelin, S. and Porter, L. A. 2009. Corporate Charitable Giving, Multinational Companies and Countries of Concern. Journal of Management Studies 46(4): 575-596.
     
     Chang, X., Fu, K., Low, A., and Zhang, W. 2015. Non-executive employee stock options and corporate innovation. Journal of Financial Economics 115(1): 168-188.
     
     Chatterji, M. and C. J. Tilley. 2002. Sickness, Absenteeism, Presenteeism, and Sick Pay. Oxford Economic Papers 54: 669–687.
     
     Chiaramonte, L., A. Dreassi, C. Girardone and S. Piserà. 2021. Do ESG strategies enhance bank stability during financial turmoil? Evidence from Europe. The European Journal of Finance: 1-39.
     
     Christmann, P. 2004. Multinational Companies and the Natural Environment: Determinants of Global Environmental Policy. Academy of Management Journal 47: 747–760.
     
     Greening, D. W. and Turban, D. B. 2000. Corporate Social Performance as a Competitive Advantage in Attracting a Quality Workforce. Business and Society 39: 254-280.
     
     McWilliams, A. and Siegel, D. 2000. Corporate social responsibility and financial performance: correlation or misspecification? Strategic Management Journal 21: 603–609.
     
     Montgomery, D. B. and C. A. Ramus. 2003. Corporate Social Responsibility Reputation Effects on MBA Job Choice. Stanford Graduate School of Business Research Paper No. 1805.
     
     Delmas, M. A. and S. Pekovic. 2013. Environmental standards and labor productivity: Understanding the mechanisms that sustain sustainability. Journal of Organizational Behavior 34(2): 230-252.
     
     Edmans, A. 2011. Does the stock market fully value intangibles? Employee satisfaction and equity prices. Journal of Financial Economics 101(3): 621-640.
     
     Fombrun, C. J. 1996. Reputation: Realizing Value from the Corporate Image. (Harvard Business School Press, Bos- ton, MA).
     
     Godfrey, P. C., C. B. Merrill and J. Hansen. 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.
     
     Harter, J.K., Schmidt, F.L. and Hayes, T.L. 2002.Business-unit-level relationship between employee satisfaction, employee engagement, and business outcomes: A meta-analysis. Journal of Applied Psychology 87(2): 268-279.
     
     Hitt, M. A., Hoskisson, R. E. and Kim, H. 1997. International Diversification: Effects on Innovation and Firm Performance in Product- Diversified Firms. The Academy of Management Journal 40: 767-798.
     
     Husted, B. W. 2005. Risk Management, Real Options, Corporate Social Responsibility. Journal of Business Ethics 60(2): 175-183.
     
     Hwang, J., H. Kim. and D. Jung. 2021. The Effect of ESG Activities on Financial Performance during the COVID-19 Pandemic—Evidence from Korea. Sustainability 13(20).
     
     Aupperle, K. E., Carroll, A. B. and Hatfield, J. D. 1985. An Empirical Examination of the Relationship between Corporate Social Responsibility and Profitability. The Academy of Management Journal 28: 446-463
     
     Klein, J. and N. Dawar. 2004. Corporate social responsibility and consumers` attributions and brand evaluations in a product–harm crisis. International Journal of Research in Marketing 21(3): 203-217.
     
     Kostova, T. and S. Zaheer. 1999. Organizational Legitimacy under Conditions of Complexity: The Case of the Multinational Enterprise. The Academy of Management Review 24: 64-81.
     
     Lannelongue, G., J. Gonzalez-Benito. and I. Quiroz. 2017. Environmental management and labour productivity: The moderating role of capital intensity. J Environ Manage 190: 158-169.
     
     Luo, Y. and R. L. Tung. 2017. A general theory of springboard MNEs. Journal of International Business Studies 49(2): 129-152.
     
     Lys, T., J. P. Naughton and C. Wang. 2015. Signaling through corporate accountability reporting. Journal of Accounting and Economics 60: 56-72.
     
     Maignan, I. and O. C. Ferrell. 2001. Antecedents and benefits of corporate citizenship: an investigation of French businesses. Journal of Business Research 51: 37-51.
     
     Peloza, J. 2006. Using Corporate Social Responsibility as Insurance for Financial Performance. California Management Review 48: 52-72.
     
     Peterson, D. K. 2016. The Relationship between Perceptions of Corporate Citizenship and Organizational Commitment. Business & Society 43(3): 296-319.
     
     Prashantham, S. and J. Birkinshaw. 2015. Choose Your Friends Carefully: Home-Country Ties and New Venture Internationalization. Management International Review 55(2): 207-234.
     
     Rego, A., Ribeiro, N. and Cunha, M. P. 2009. Perceptions of Organizational Virtuousness and Happiness as Predictors of Organizational Citizenship Behaviors. Journal of Business Ethics 93(2): 215-235.
     
     Eccles, R. G., Ioannou, I. and Serafeim, G. 2014. The Impact of Corporate Sustainability on Organizational Processes and Performance. Management Science 60(11): 2835–2857.
     
     Roberts, P. W. and G. R. Dowling. 2002. Corporate reputation and sustained superior financial performance. Strategic Management Journal 23(12): 1077-1093.
     
     Sánchez, P. E. and S. Benito-Hernández. 2013. CSR Policies: Effects on Labour Productivity in Spanish Micro and Small Manufacturing Companies. Journal of Business Ethics 128(4): 705-724.
     
     Sassen, R., Hinze, AK. and Hardeck, I. 2016. Impact of ESG factors on firm risk in Europe. Journal of Business Economics 86(8): 867-904.
     
     Scott, W. R. 1995. Institutions and organizations. California: Sage.
     
     Sharfman, M. P., Shaft, T. M. and Tihanyi, L. 2016. A Model of the Global and Institutional Antecedents of High-Level Corporate Environmental Performance. Business & Society 43(1): 6-36.
     
     Stuebs, M. and L. Sun. 2010. Business Reputation and Labor Efficiency, Productivity, and Cost. Journal of Business Ethics 96(2): 265-283.
     
     Sun, L. and T. R. Yu. 2015. The impact of corporate social responsibility on employee performance and cost. Review of Accounting and Finance 14(3): 262-284.
     
     Surroca, J. and J. A. Tribó. 2008. Managerial Entrenchment and Corporate Social Performance. Journal of Business Finance & Accounting 35(5-6): 748-789.
     
     Tajfel, H. and J. C. Turner. 1985. The Social Identity Theory of Intergroup Behaviour: 7- 24.
     
     Tarmuji, I., Maelah, R. and Tarmuji, N. 2016. The Impact of Environmental, Social and Governance Practices (ESG) on Economic Performance: Evidence from ESG Score. International Journal of Trade, Economics and Finance 7: 67-74.
     
     Turban, D. B. and D. W. Greening 1997. Corporate Social Performance and Organizational Attractiveness to Prospective Employees. The Academy of Management Journal 40: 658-672.
     
     Velte, Patrick. 2017. Does ESG performance have an impact on financial performance? Evidence from Germany. Journal of Global Responsibility 8.		zh_TW
dc.identifier.doi (DOI) 10.6814/NCCU202201100en_US