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系統識別號 U0002-2206201210135200
中文論文名稱 生態效益、環境創新與經濟績效之關聯性研究
英文論文名稱 The correlation of eco-efficiency, eco-innovation and financial 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 100
學期 2
出版年 101
研究生中文姓名 李仁雋
研究生英文姓名 Ren-Jun Lee
學號 699600218
學位類別 碩士
語文別 中文
口試日期 2012-06-02
論文頁數 76頁
口試委員 指導教授-郭樂平
委員-郭怡君
委員-郭樂平
委員-徐志順
中文關鍵字 生態效益  環境創新  經濟績效 
英文關鍵字 eco-efficiency  eco-innovation  financial performance 
學科別分類 學科別社會科學商學
中文摘要 環境績效與經濟績效的關係長久以來一直存在理論上的分歧,有鑑於實證研究上的不一致,本研究以生態效益作為環境績效的衡量指標,檢測生態效益與經濟績效之關聯性。運用多種衡量模式求得生態效益值,期望能夠得到具一般化的衡量方式。最後探討環境創新的價值意涵,以及環境創新在生態效益與經濟績效的關係之間所扮演的角色。
本研究以日經500成分股為研究樣本,期望補強過去文獻對於亞洲國家研究的不足。研究期間為2006-2008年度,樣本資料為兼具橫斷面及時間序列特性之縱橫資料,故本研究採用縱橫資料模型(panel data model)進行迴歸模型之估計。實證結果指出生態效益對市場價值有顯著正向的影響,而環境創新的投入乍看之下對經濟績效沒有正向幫助,但卻能夠干擾生態效益與經濟績效之關聯性。由其在相同生態效益水準的情況下,高環境創新的企業相較於低環境創新的企業有更好的財務績效表現。
本研究結果對企業經理人與投資者都別具意義,經理人無需擔心顧及環境績效會與企業的財務目標相衝突,生態效益指標可以做為經理人進行環境管理的評量依據,而環境創新將會是企業創造競爭優勢的來源之一。就投資人而言,根據本研究會發現生態效益也是一種潛在的資訊來源,可以做為投資決策的參考依據。
本研究以生態效益的觀點衡量企業的環境績效,然而生態效益之衡量截至目前並沒有唯一的做法,尚須仰賴學術上更多實證研究的支持。本研究貢獻在於發展一套生態效益指標,並根據實證結果顯示該生態效益指標係可以作為預期企業財務績效之先驗指標,並且具有一般化之特性。
英文摘要 This study adds new insights to analyses the correlation of environmental performance, eco-innovation and financial performance by focusing on the concept of eco-efficiency from 2006 to 2008. We report that eco-efficiency relates positively to operating performance and market value. Moreover, our results suggest that eco-innovation play an important role to moderate the relation between eco-efficiency and financial performance. On the same level of eco-efficiency, high environmental innovation enterprises compared to the low environmental innovation trend have better financial performance. We believe the results of this paper have implications for both managers and investors. Managers do not have to overcome a tradeoff between eco-efficiency and financial performance. Investment in eco-innovation exist its value. And for investors, who can exploit environmental information for investment decisions. For investors, eco-efficiency is a potential source of information that helps them generate superior excess returns. An important avenue for further research would be find a better way to measure environmental performance construct on the concept of eco-efficiency. This paper proposes many methods to measure eco-efficiency and try to supply a general conclusion.
論文目次 謝誌 I
中文摘要 II
英文摘要 III
目錄 IV
表目錄 V
圖目錄 VI
第壹章 緒論 1
第一節 研究背景 1
第二節 研究動機 2
第三節 研究目的 3
第四節 研究架構與流程 4
第貳章 文獻探討 6
第一節 組織績效 6
第二節 生態效益(Eco-efficiency) 10
第二節 環境創新 16
第四節 環境創新、環境績效與經濟績效相關文獻 22
第參章 研究方法 25
第一節 觀念性架構與研究假說 25
第二節 變數衡量與實證模型 29
第三節 樣本及資料來源 34
第四節 研究方法 35
第肆章 實證結果及分析 36
第一節 敘述性統計分析 37
第二節 相關分析 37
第三節 實證結果分析 39
第伍章 結論與建議 61
第一節 研究結論 61
第二節 管理意涵 62
第三節 研究貢獻 63
第四節 研究限制與建議 64
參考文獻 66
表2-1 環境創新相關文獻 21
表4-1 研究樣本的選擇 37
表4-2 敘述統計 38
表4-3 各自變數間之Pearson相關係數矩陣與變異膨脹係數(VIF) 38
表4-4 生態效益(Sale/CO2)、環境創新與經濟績效之關係 40
表4-5 高生態效益(Sale/CO2)、環境創新與經濟績效之關係 43
表4-6 生態效益(Sale/CO2)、環境創新比率與經濟績效之關係 44
表4-7 高生態效益(Sale/CO2)、環境創新比率與經濟績效之關係 45
表4-8 高生態效益(Sale/CO2)、高環境創新比率與經濟績效之關係 46
表4-9 投入產出變數之敘述統計 47
表4-10 生態效益(CCR)、環境創新與經濟績效之關係 49
表4-11 生態效益(CCR)、高環境創新與經濟績效之關係 50
表4-12 生態效益(CCR)、環境創新比率與經濟績效之關係 51
表4-13 生態效益(CCR)、高環境創新比率與經濟績效之關係 52
表4-14 生態效益(BCC)、環境創新與經濟績效之關係 54
表4-15 生態效益(BCC)、高環境創新與經濟績效之關係 55
表4-16 生態效益(BCC)、環境創新比率與經濟績效之關係 56
表4-17 生態效益(BCC)、高環境創新比率與經濟績效之關係 57
表4-18 實證結果彙總表 58
圖1-1 研究流程圖 5
圖3-1 觀念性架構圖 25
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