||The Study on the Relationships Among Board Diversity, Corporate Social Responsibility and Financial Performance
||Department of Accounting
Corporate social responsibility
||本研究之目的在探討董事會多樣性、企業社會責任與財務績效之影響，並探討企業社會責任是否會調節董事會多樣性與財務績效間之關係。本研究係以2009年至2011年之美國S&P 500指數之企業為對象，使用多元迴歸方式檢驗假說及董事會多樣性與社會責任之交互作用對財務績效之調節效果。研究資料來自Mergent online資料庫及公司年報（董事會多樣性）、KLD資料庫（社會績效資料），與Compustat資料庫（財務績效資料）。實證結果顯示董事會多樣性與財務績效未有顯著關係。企業社會責任對財務績效呈顯著的正向關係。另外，也發現企業社會責任對董事會多樣性與財務績效間之關係具有顯著正向的調節效果，尤其是當企業社會責任表現愈好時，董事會多樣性對財務績效的提升有幫助。本研究之主要貢獻除補足有關董事會多樣性、企業社會責任與財務績效之管理文獻缺口外，並能建議企業能夠落實企業社會責任的實踐。
||This paper is to investigate the relationships among board diversity, corporate social responsibility and financial performance, and investigate whether corporate social responsibility will moderate the relationship between board diversity and financial performance. In this paper, the S&P 500 firms in U.S. as the research project, the research period is for the year 2009 to 2011, using multiple regression analysis to test hypotheses and moderate effect. Research data from Mergent online databases and Annual Report (Board diversity), KLD database (social performance data), and Compustat database (financial performance information). Empirical results indicate that board diversity has no significant effect on financial performance. And corporate social responsibility has a positive significant effect on financial performance. In addition, this paper find a significant relationship between board diversity and financial performance. This relationship is moderated by corporate social responsibility. The contribution of this paper, expect to make up the gap of management themes about corporate social performance, board diversity and financial performance. And expect to give companies more better practices suggestions.
||第壹章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 3
第三節 研究流程 3
第貳章 文獻探討 5
第一節 董事會多樣性 5
第二節 企業社會責任 16
第三節 董事會多樣性與企業績效之相關文獻 32
第四節 企業社會責任與企業績效之相關文獻 36
第參章 研究方法 38
第一節 觀念性架構與建立研究假說 38
第二節 研究變數之衡量 43
第三節 實證模型 48
第四節 樣本與資料來源 49
第五節 資料分析方法 50
第肆章 實證結果及分析 51
第一節 敘述性統計分析 51
第二節 相關分析 52
第三節 迴歸結果分析 54
第伍章 結論與建議 58
第一節 研究結果及貢獻 58
第二節 管理意涵 60
第三節 研究限制與建議 62
圖 1-1 研究流程圖 4
圖 2-1 CSR金字塔理論之四大構面 18
圖 3-1 觀念性架構 38
表 2-1各個機構、學者對CSR之定義 20
表 2-2企業社會績效模型 29
表 3-1各變數之定義 48
表 3-2 樣本資料來源 49
表 4-1 敘述性統計 52
表 4-2各變數間之Pearson相關係數矩陣 53
表 4-3董事會多樣性與財務績效之回歸結果分析 54
表 4-4董事會多樣性(四個要素)與財務績效之回歸結果分析 55
||台灣企業社會責任(CSR in Taiwan)，全球永續性報告協會(GRI)，引用自http://csr.moea.gov.tw/standards/gri.aspx
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