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題名：利用分量迴歸法檢視企業社會責任和公司績效關係之研究─以台灣與中國為例
作者：呂書屏
作者(外文)：Shu-BingLiu
校院名稱：國立成功大學
系所名稱：企業管理學系
指導教授：康信鴻
學位類別：博士
出版日期：2014
主題關鍵詞：企業社會責任；分量迴歸；公司績效；Corporate social responsibility；Quantile regression；Corporate performance
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本研究的主要目的是探討中國和台灣企業社會責任對公司績效的影響，以2009年至2011年間中國前300強公司，和2008年至2010年間台灣上市公司資料進行實證觀察。有鑒於文獻上實證結果的不一致，和最小平方法使用上的限制，本研究採用分量迴歸法以彌補過去研究方法的不足。利用分量迴歸法可以探究企業社會責任對公司績效的影響，是否因公司績效的不同而有所不同。換言之，不同公司績效下，企業社會責任對公司績效的影響是否不同。本研究希望透過分量迴歸法探討企業社會責任對公司績效的影響，以提供目前文獻上不同的觀點。實證結果指出，在台灣，無論公司績效水準高低，從事企業社會責任對公司績效均有顯著正向的影響；而在中國，當使用銷貨毛利率作為績效衡量指標時，從事企業社會責任對公司績效的影響則會隨績效水準高低而不同，但當使用其他變數作為績效衡量指標時則無此現象。
This paper investigates the impact of corporate social responsibility activities on corporate performance in Taiwan and China and employs a sample of the top 300 Chinese firms over the period 2009–2011 and 685 non-financial companies listed on the Taiwan Stock Exchange (TWSE) over the period 2008–2010. In view of the inconsistent empirical findings in the literature, and the limitations of least squares regressions, we adopt a quantile regression method to fill this gap in the literature. In this paper we hope to provide a different perspective to that presented in the current literature with regard to the impact of CSR on corporate performance by adopting a quantile regression approach. According to the empirical results, for all quantiles we find a uniformly significant positive relationship between engagement in CSR activities and firm performance in Taiwan. However, the results in China show that the sensitivity of a company’s performance to its engagement in CSR activities vary with the quantile location of the firm’s performance level when using gross profit to net sales as a performance measure, although this does not occur when using other performance measures. However, these findings could not be obtained with conditional mean-focused regressions.
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