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題名:年長董事與企業社會責任
作者:陳瓊如
作者(外文):Tran Ngoc Quynh Nhu
校院名稱:國立陽明交通大學
系所名稱:財務金融研究所
指導教授:梁婉麗
林智勇
學位類別:博士
出版日期:2022
主題關鍵詞:企業社會責任董事會老導演名聲公司治理Corporate social responsibilityBoard of directorsOld directorsReputationCorporate governance
原始連結:連回原系統網址new window
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本研究探討了老董事對企業社會責任 (CSR) 的影響。
主要結果表明,老董事比例較低(較高)的公司傾向於更多(更少)參與企業社會責任活動。為防止內生性問題,我們採用差分法,將老董事的突然死亡和退休作為外生衝擊事件。此外,我們發現老董事的百分比與企業社會責任活動之間的負相關關係對於董事聲譽相關的公司(董事更忙碌的公司、高成就董事比例更高、罪惡公司)和/或聲譽較低的公司而言更強公司治理(機構所有權較低的公司、有權發行空白支票優先股的公司、具有分類董事會的公司。
This study explores the effect of old directors on corporate social responsibility (CSR).
The main result shows that firms with lower (higher) percentage of old directors tend to be more (less) engage in CSR activities. To prevent the endogeneity problem, we adopt the difference-in-differences method by using the sudden deaths and retirements of old directors as the exogenous shock events. Moreover, we find that the negative relationship between the percentage of old directors and CSR activities is stronger for firms with reputation-concerned directors (firms with more busy directors, a higher percentage of high achieving directors, sin firms) and/or firms with lower corporate governance (firms with low institutional ownership, firms authorized to issue blank check preferred stocks, firms with a classified board).
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