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系統識別號 U0002-3006200922500700
中文論文名稱 環境揭露、環境績效與經濟績效關聯性之研究
英文論文名稱 The relationship among environmental disclosure, environmental performance, and economic performance.
校院名稱 淡江大學
系所名稱(中) 會計學系碩士在職專班
系所名稱(英) Department of Accounting
學年度 97
學期 2
出版年 98
研究生中文姓名 宋宜音
研究生英文姓名 Yi-Yin Sung
學號 795600278
學位類別 碩士
語文別 中文
第二語文別 英文
口試日期 2009-06-12
論文頁數 79頁
口試委員 指導教授-黃振豊
指導教授-孔繁華
委員-蔡瑤昇
委員-丁誌魰
委員-賴丞坡
中文關鍵字 環境揭露  環境績效  經濟績效 
英文關鍵字 Environmental disclosure  Environmental performance  Economic performance 
學科別分類 學科別社會科學商學
中文摘要 本研究主要在探討環境揭露、環境績效與經濟績效三者關係之整合分析,本研究以上市公司在行政院環境保護署之台灣地區排放量資料庫之空氣污染排放量取對數作為環境績效衡量指標,以企業年報所揭露環保事項依內容分析方法來衡量環境揭露程度,以公司之股價報酬,做為經濟績效之衡量指標,研究對象為2006年度之上市公司。
本研究以聯立方程式模型(simultaneous equations models)分析三者之關聯性,研究結果顯示,環境揭露、環境績效與經濟績效三者呈顯著相關,企業的環境績效與經濟績效相互影響外,同時環境績效會影響環境資訊之揭露。首先企業對控制污染之資源管理策略下,環境績效(空氣汙染排放量減少)改善時,研究結果顯示環境績效對經濟績效呈顯著關係。反之,市場表現獲利時,企業會較願意也較有能力改善環境,研究結果顯示經濟績效對環境績效亦呈顯著關係。另管理者動機將環保法規納入經營考量,對於環境資訊揭露偏重於強制性環境資訊環境揭露,研究結果顯示,環境績效與環境揭露呈顯著正向關係。
英文摘要 This study provides an integrated analysis of the interrelations among environmental disclosure, environmental performance and economic performance. Data from the Environmental Management System (EMS) of Environmental Protection Administration Executive Yuan (EPA) was utilized, specifically relating to the quantity of air pollution released. A measurement of environmental performance was calculated for listed Taiwanese companies as the quantity of air pollution released in log. We elaborate on a disclosure-scoring technique to listed companies whose annual reports have environmental disclosure items in measuring the levels of environmental disclosure. We measure a firm’s economic performance using an industry-adjusted annual return. In order to be included in our sample, a firm must be listed on Taiwan Stock Exchange Market for the year 2006
After endogenizing the related variables in simultaneous equations models, our results show that “good” environmental performance is significantly associated with “good” economic performance, and also with more extensive quantifiable environmental disclosures. First, we use firms from different environmentally sensitive industries as an attribute to differentiate sample firms and adopt resource base view. The empirical results show that environmental performance is positively related to economic performance. Besides, economic performance is increasing as a firm’s air pollution is improving; economic performance show that profitability drives good environmental performance and that environmental accountability is strictly a matter of affordability. Second, according to manager’s motivation perspective, the results indicate that firms with good environmental performance tend to disclose more environmental information. The study also documents a positive relationship between environmental disclosure and current environmental performance.
論文目次 表目錄 IV
圖目錄 V
第一章 緒論 1
第一節 研究背景 1
第二節 研究動機 3
第三節 研究目的 5
第四節 論文架構. 5
第二章 文獻探討 7
第一節 環境保護相關法規及國內環境資訊揭露相關規範 8
第二節 環境績效與經濟績效關聯性 14
第三節 環境績效與環境資訊揭露之關聯性 23
第三章 研究方法 32
第一節 觀念性架構與研究假說 32
第二節 變數定義及衡量 35
第三節 資料來源與分析方法 44
第四節 實證模型 47
第四章 實證結果與分析 49
第一節 經濟績效、環境績效與環境揭露之關聯性分析 49
第二節 迴歸分析 53
第三節 環境敏感群之分析 59
第四節 敏感度分析 65
第五章 研究結論、限制及建議 68
第一節 研究結論 68
第二節 研究限制 70
第三節 研究建議 71
參考文獻 74
表目錄
表2-1 依立法原則歸納比較當前國內環境相關政策法規 8
表2-2 主要空氣污染物來源 11
表2-3 環境績效與經濟績效關係文獻彙總 20
表2 4 環境績效與環境揭露之理論關聯 24
表2 5 環境績效與環境揭露關係文獻彙總 29
表3-1 內生變數與前定變數之關係 35
表3 2 研究量表 39
表3-3 樣本篩選過程 44
表3-4 各變數之定義 47
表4 1 敘述統計:內生變數及前定變數之分析 50
表4 2 各變數之相關係數矩陣(左下角為PEARSON相關係數,右上為SPEARMAN’S相關係數) 52
表4 3 HAUSMAN檢定測試殘差結果 54
表4 4 變異膨脹係數(VARIANCE INFLATION FACTORS, VIF)檢定結果 54
表4 5三階最小平方迴歸結果(經濟績效=調整後股價報酬率)-係數(T-VALUE) 57
表4 6環境資訊揭露程度與環境績效之迴歸分析結果 58
表4 7企業規模與環境資訊揭露程度分析結果 58
表4 8敘述統計- 針對241家上市公司環境敏感產業分析 60
表4 9環境資訊揭露程度(241樣本公司 – 分高、低環境敏感產業) 63
表4 10整體環境資訊揭露程度(241樣本公司) 64
表4 11三階最小平方迴歸結果(經濟績效=資產報酬率) - 係數(T-VALUE) 67

圖目錄

圖1-1 研究流程圖 6
圖2-1 文獻結構圖 7
圖2-2 台灣地區排放量資料庫推估污染源分類 10


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