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系統識別號 U0002-0807202015585500
中文論文名稱 循環經濟、財務績效及環境績效之關聯性研究
英文論文名稱 The Relationships among Circular Economy, Financial Performance and Environmental Performance
校院名稱 淡江大學
系所名稱(中) 會計學系碩士班
系所名稱(英) Department of Accounting
學年度 108
學期 2
出版年 109
研究生中文姓名 蕭子璇
研究生英文姓名 Zi-Xuan Xiao
學號 607600342
學位類別 碩士
語文別 中文
口試日期 2020-06-17
論文頁數 79頁
口試委員 指導教授-謝宜樺
委員-吳幸蓁
委員-張瑀珊
中文關鍵字 循環經濟  財務績效  環境績效 
英文關鍵字 Circular Economy  Financial Performance  Environmental Performance 
學科別分類
中文摘要 本研究探討企業循環經濟對財務績效與環境績效之關聯性,並以2016年至2018年台灣上市櫃電子工業為樣本。循環經濟指標主要透過主成分分析,將指標區分為減量化管理與資源循環管理,並進一步建立循環經濟整合指標,環境績效資料採用內容分析法獲取自企業社會責任報告書,其餘財務資訊源自台灣經濟新報資料庫(TEJ)。本研究實證結果如下,企業實施循環經濟對ROA之財務績效呈正向顯著;循環經濟對環境績效呈現正向顯著;環境績效對ROA與Tobin’s Q之財務績效皆具有顯著負向顯著關聯性。企業實施循環經濟的動因主要源自於內部的經濟增長,部分支持自然資源基礎理論的觀點,企業善用自然資源的能力已成為市場上競爭力的表現,唯有由內而外以兼顧環境的生產方式,才能替企業創造高水平的財務績效。
英文摘要 This paper explores the relevance of corporate circular economy, financial performance, and environmental performance, and takes the listed and over the counter electronics industry in Taiwan from 2016 to 2018 as samples.Circular economic indicators mainly divide the indicators into reduction management and resource recycling management through principal component analysis, and further establish circular economic integration indicators. Environmental performance data are obtained from the corporate social responsibility report using content analysis, and the rest of the financial information comes from Taiwan Economic Journal (TEJ).The empirical results of this study are as follows. The implementation of circular economy by enterprises has a positive and significant effect on the financial performance of ROA; the circular economy has a positive and significant effect on the environmental performance; environmental performance has a significant negative and significant correlation to the financial performance of ROA and Tobin's Q.The motivation for enterprises to implement the circular economy mainly stems from internal economic growth, and partly supports the view of the basic theory of natural resources.The ability of enterprises to effectively use natural resources has become a manifestation of competitiveness in the market.An enterprise can only create a high level of financial performance for the enterprise by producing from the inside out with consideration to the environment.
論文目次 目錄
第一章 緒論 1
第一節 研究背景及動機 1
第二節 研究目的 4
第三節 研究流程 5
第四節 研究架構 6
第二章 文獻探討 7
第一節 循環經濟的定義 7
第二節 各國循環經濟發展與指標建立 9
第三節 環境績效 22
第四節 財務績效 26
第五節 自然資源基礎理論 27
第六節 雙贏原則 31
第三章 研究方法 33
第一節 研究架構 33
第二節 研究樣本與資料來源 33
第三節 變數定義 34
第四節 模型建置 41
第四章 研究結果 42
第一節 敘述性統計 42
第二節 相關係數分析 44
第三節 迴歸分析 47
第四節 增額測試 55
第五章 結論與建議 62
第一節 研究結論 62
第二節 研究貢獻與管理意涵 65
第三節 研究限制與未來建議 66
附錄 67
參考文獻 69
圖目錄
圖1- 1 研究流程 5
圖2- 1 循環經濟3R原則 8
圖2- 2 經濟社會與能源間之關係 14
圖2- 3 物質平衡模型 15
圖3- 1 研究架構 33


表目錄
表2- 1資源效率衡量指標 16
表2- 2日本循環型社會指標 17
表2- 3中國循環經濟評價指標體系(宏觀層面) 18
表2- 4中國循環經濟評價指標體系(工業園區) 19
表2- 5循環經濟指標文獻彙整 21
表2- 6評分系統示例 23
表2- 7 GRI與EMAS指標對照表 25
表3- 1樣本產業分布表 33
表3- 2循環經濟衡量變數 34
表3- 3百分位點分布表 35
表3- 4環境績效評分量表 36
表3- 5舊版G4與新版GRI Standards對照評分項目表 37
表3- 6 變數定義彙整 40
表4- 1敘述性統計 43
表4- 2循環經濟與財務績效之Person相關係數矩陣 44
表4- 3循環經濟與環境績效之Person相關係數矩陣 45
表4- 4環境績效與財務績效之Person相關係數矩陣 46
表4- 5循環經濟與財務績效之迴歸分析結果 49
表4- 6循環經濟與環境績效之迴歸分析結果 51
表4- 7環境績效與財務績效之迴歸分析結果 53
表4- 8 假說驗證之結果 54
表4- 9 循環經濟變動對Tobin’s Q變動之增額測試 56
表4- 10循環經濟對環境績效之增額測試 58
表4- 11循環經濟變動對環境績效變動之增額測試 60
表4- 12環境績效變動對財務績效變動之增額測試 61
表5- 1 KMO值量表 67
表5- 2 主成分解釋變異量 67
表5- 3 成分矩陣 68
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