:::

詳目顯示

回上一頁
題名:企業社會責任--行為財務學的觀點
書刊名:證券市場發展季刊
作者:池祥麟 引用關係
作者(外文):Chih, Hsiang-lin
出版日期:2017
卷期:29:4=116
頁次:頁63-104
主題關鍵詞:企業社會責任行為財務學過度自信迎合效果社會責任投資市場效率性訂價偏誤Corporate social responsibilityBehavioral financeOverconfidenceCatering effectSocially responsible investingMarket efficiencyMispricing
原始連結:連回原系統網址new window
相關次數:
  • 被引用次數被引用次數:期刊(5) 博士論文(0) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:4
  • 共同引用共同引用:80
  • 點閱點閱:20
本文嘗試從行為財務學的觀點,整理與分析與企業社會責任相關的學術研究與提出幾個可能的研究方向,包括:過度自信、迎合效果、社會責任投資與市場效率性、訂價偏誤等。我們發現行為財務學與企業社會責任之間有高度連結,但是就目前已有的學術文獻而言,結合行為財務學與企業社會責任的學術文獻比較有限,所以可能是個值得開發的研究領域。
This paper tries to, from the perspective of behavioral finance, review and analyze literature related to corporate social responsibility (CSR) to provide some research starting points to conduct research in the seemingly unrelated link between behavioral finance and CSR. These research points include overconfidence, catering effect, socially responsible investing, market efficiency, and mispricing. This paper finds that behavioral finance, in fact, is highly linked to CSR, but this link seems to be largely ignored by scholars in the fields of behavioral finance and those in CSR, so it is worthwhile to conduct research in this field.
期刊論文
1.March, J.、Sharpia, Z.(1987)。Managerial perspectives on risk and risk taking。Management Science,3(3),1404-1418。  new window
2.El Ghoul, Sadok、Guedhami, Omrane、Kwok, Chuck C. Y.、Mishra, Dev R.(2011)。Does corporate social responsibility affect the cost of capital?。Journal of Banking and Finance,35(9),2388-2406。  new window
3.Dhaliwal, Dan S.、Radhakrishnan, Suresh、Tsang, Albert、Yang, Yong G.(2012)。Nonfinancial disclosure and analyst forecast accuracy: International evidence on corporate social responsibility disclosure。The Accounting Review,87(3),723-759。  new window
4.Yoshimori, M.(1995)。Whose company is it? The concept of the corporation in Japan and the West。Long Range Planning,28(4),33-44。  new window
5.Swanson, D. L.(1995)。Addressing a Theoretical Problem by Reorienting the Corporate Social Performance Model。Academy of Management Review,20(1),43-64。  new window
6.Luo, Xueming、Bhattacharya, Chitra B.(2009)。The Debate over Doing Good: Corporate Social Performance, Strategic Marketing Levers, and Firm-Idiosyncratic Risk。Journal of Marketing,73(6),198-213。  new window
7.Chordia, T.、Shivakumar, L.(2005)。Inflation illusion and the post-earnings announcement drift。Journal of Accounting Research,43(4),521-556。  new window
8.Lopes, L. L.(1987)。Between hope and fear: The psychology of risk。Advances in Experimental Social Psychology,20(3),255-295。  new window
9.Renneboog, Luc、Ter Horst, Jenke、Zhang, Chendi(2008)。Socially responsible investments: Institutional aspects, performance, and investor behavior。Journal of Banking & Finance,32(9),1723-1742。  new window
10.Sen, A.(1997)。Economics, Business Principles and Moral Sentiments。Business Ethics Quarterly,7(3),5-15。  new window
11.Lee, Darren D.、Faff, Robert W.(2009)。Corporate sustainability performance and idiosyncratic risk: A global perspective。Financial Review,44(2),213-237。  new window
12.Minor, D. B.、Morgan, J.(2011)。CSR as reputation insurance: Primum non nocere。California Management Review,53(3),40-59。  new window
13.Godfrey, Paul C.、Merrill, Craig B.、Hansen, Jared M.(2009)。The Relationship between Corporate Social Responsibility and Shareholder Value: An Empirical Test of the Risk Management Hypothesis。Strategic Management Journal,30(4),425-445。  new window
14.Mackey, Alison、Mackey, Tyson B.、Barney, Jay B.(2007)。Corporate Social Responsibility and Firm Performance: Investor Preferences and Corporate Strategies。Academy of Management Review,32(3),817-835。  new window
15.Peloza, John(2006)。Using Corporate Social Responsibility as Insurance for Financial Performance。California Management Review,48(2),52-72。  new window
16.Barnett, Michael L.(2007)。Stakeholder Influence Capacity and the Variability of Financial Returns to Corporate Social Responsibility。Academy of Management Review,32(3),794-816。  new window
17.Shleifer, Andrei、Vishny, Robert W.(1997)。The Limits of Arbitrage。Journal of Finance,52(1),35-55。  new window
18.Coombs, Joseph E.、Gilley, K. Matthew(2005)。Stakeholder Management as a Predictor of CEO Compensation: Main Effects and Interactions with Financial Performance。Strategic Management Journal,26(9),827-840。  new window
19.Mattingly, James E.、Berman, Shawn L.(2006)。Measurement of Corporate Social Action Discovering Taxonomy in the Kinder Lydenburg Domini Ratings Data。Business and Society,45(1),20-46。  new window
20.Roberts, Peter W.、Dowling, Grahame R.(2002)。Corporate Reputation and Sustained Superior Financial Performance。Strategic Management Journal,23(12),1077-1093。  new window
21.Bollen, Nicolas P. B.(2007)。Mutual Fund Attributes and Investor Behavior。Journal of Financial and Quantitative Analysis,42,683-708。  new window
22.Weinstein, Neil D.(1980)。Unrealistic optimism about future life events。Journal of Personality and Social Psychology,39(5),806-820。  new window
23.Monin, B.、Miller, D. T.(2001)。Moral credentials and the expression of prejudice。Journal of Personality and Social Psychology,81(1),33-43。  new window
24.Mishra, Saurabh、Modi, Sachin B.(2013)。Positive and negative corporate social responsibility, financial leverage, and idiosyncratic risk。Journal of Business Ethics,117(2),431-448。  new window
25.Oikonomou, Ioannis、Brooks, Chris、Pavelin, Stephen(2012)。The impact of corporate social performance on financial risk and utility: A longitudinal analysis。Financial Management,41(2),483-515。  new window
26.Berle, Adolf A. Jr.(1931)。Corporate Powers as Powers in Trust。Harvard Law Review,44(7),1049-1074。  new window
27.Malmendier, Ulrike、Tate, Geoffrey(2005)。Does overconfidence affect corporate investment? CEO overconfidence measures revisited。European Financial Management,11(5),649-659。  new window
28.Tirole, J.(2001)。Corporate Governance。Econometrica: Journal of the Econometric Society,69(1),1-35。  new window
29.池祥萱、池祥麟、梁綺羚(20160100)。企業社會責任之策略性分析。管理評論,35(1),21-45。new window  延伸查詢new window
30.Hirshleifer, David A.、Low, Angie、Teoh, Siew Hong(2012)。Are overconfident CEOs better innovators?。Journal of Finance,67(4),1457-1498。  new window
31.Campbell, John Y.、Lettau, Martin、Malkiel, Burton G.、Xu, Yexiao(2001)。Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic Risk。Journal of Finance,56(1),1-43。  new window
32.Barberis, Nicholas C.、Huang, Ming、Santos, Tano(2001)。Prospect Theory and Asset Prices。The Quarterly Journal of Economics,116(1),1-53。  new window
33.Bauer, R.、Koedijk, K.、Otten, R.(2005)。International evidence on ethical mutual fund performance and investment style。Journal of Banking & Finance,29(7),1751-1767。  new window
34.Frooman, Jeff(1997)。Socially Irresponsible and Illegal Behavior and Shareholder Wealth: A Meta-analysis of Event Studies。Business and Society,36(3),221-249。  new window
35.Di Giuli, Alberta、Kostovetsky, Leonard(2014)。Are red or blue companies more likely to go green? Politics and corporate social responsibility。Journal of Financial Economics,111(1),158-180。  new window
36.Hull, Clyde E.、Rothenberg, Sandra(2008)。Firm performance: The interactions of corporate social performance with innovation and industry differentiation。Strategic Management Journal,29(7),781-789。  new window
37.Anderson, J. C.、Frankle, A. W.(1980)。Voluntary Social Reporting: An Iso-Beta Portfolio Analysis。Accounting Review,55(3),467-479。  new window
38.Edmans, Alex(2011)。Does the Stock Market Fully Value Intangibles? Employee Satisfaction and Equity Prices。Journal of Financial Economics,101(3),621-640。  new window
39.周賓凰、池祥萱、周冠男、龔怡霖(20020700)。行為財務學--文獻回顧與展望。證券市場發展季刊,14(2)=54,1-47。new window  延伸查詢new window
40.王韻怡、池祥萱、周冠男(20160300)。行為財務學文獻回顧與展望:臺灣市場之研究。經濟論文叢刊,44(1),1-55。new window  延伸查詢new window
41.池祥麟(20150200)。社會責任投資之理論與實證分析。證券櫃檯,175,52-61。  延伸查詢new window
42.詹場、柯文乾、池祥麟(20160600)。CSR能為公司經營策略帶來什麼好處?--來自世界頂級學術期刊之證據。商略學報,8(2),77-86。new window  延伸查詢new window
43.林美珍、楊念慈(20171200)。行為財務學與資產訂價異常現象:文獻回顧與展望。證券市場發展季刊,29(4)=116,1-62。new window  延伸查詢new window
44.Barnett, M. L.、Salomon, R. M.(2012)。Does It Pay to be Really Good? Addressing the Shape of the Relationship Between Social and Financial Performance。Strategic Management Journal,33(11),1304-1320。  new window
45.Barnett, Michael L.、Salomon, Robert M.(2006)。Beyond Dichotomy: The Curvilinear Relationship between Social Responsibility and Financial Performance。Strategic Management Journal,27(11),1101-1122。  new window
46.Chatterjee, A.、Hambrick, D. C.(2007)。It's All About Me: Narcissistic Chief Executive Officers and Their Effects on Company Strategy and Performance。Administrative Science Quarterly,52(3),351-386。  new window
47.Chatterji, Aaron K.、Durand, Rodolphe、Levine, David I.、Touboul, Samuel(2016)。Do Ratings of Firms Converge? Implications for Managers, Investors and Strategy Researchers。Strategic Management Journal,37(8),1597-1614。  new window
48.Choi, Jaepil、Wang, Heli(2009)。Stakeholder Relations and the Persistence of Corporate Financial Performance。Strategic Management Journal,30(8),895-907。  new window
49.Croci, Ettore、Petmezas, Dimitris、Vagenas-Nanos, Evangelos(2010)。Managerial Overconfidence in High and Low Valuation Markets and Gains to Acquisitions。International Review of Financial Analysis,19(5),368-378。  new window
50.Derwall, J.、Gunster, N.、Bauer, R.、Koedijk, K.(2004)。The Eco-efficiency Premium Puzzle。Financial Analyst Journal,61(2),51-63。  new window
51.Henderson, B. J.、Pearson, N. D.(2011)。The Dark Side of Financial Innovation: A Case Study of the Pricing of a Retail Financial Product。Journal of Financial Economics,100(2),227-247。  new window
52.Hong, H.、Kacperczyk, M.(2009)。The Price of Sin: The Effects of Social Norms on Stock Markets。Journal of Financial Economics,93(1),15-36。  new window
53.Kotchen, M.、Moon, J. J.(2012)。Corporate Social Responsibility for Irresponsibility。The B.E. Journal of Economic Analysis and Policy,12(1),1-23。  new window
54.McCardle, K. F.、Viswanathan, S.(1994)。The Direct Entry versus Takeover Decision and Stock Price Performance around Takeovers。Journal of Business,67,1-43。  new window
55.Romer, D.(1984)。The Theory of Social Custom: a modification and Some Extensions。Quarterly Journal of Economics,99,717-727。  new window
56.Strike, Vanessa M.、Gao, Jijun、Bansal, Pratima(2006)。Being Good While Being Bad: Social Responsibility and the International Diversification of US Firms。Journal of International Business Studies,37(6),850-862。  new window
57.Shefrin, Hersh、Statman, Meir(2000)。Behavioral Portfolio Theory。Journal of Financial and Quantitative Analysis,35(2),127-151。  new window
58.Miller, Merton H.、Modigliani, Franco(1961)。Dividend Policy, Growth, and the Valuation of Shares。The Journal of Business,34(4),411-433。  new window
59.Markowitz, Harry M.(1952)。Portfolio Selection。The Journal of Finance,7(1),77-91。  new window
60.Malmendier, Ulrike、Tate, Geoffrey A.(2005)。CEO Overconfidence and Corporate Investment。The Journal of Finance,60(6),2661-2700。  new window
61.Thaler, Richard H.、Johnson, Eric J.(1990)。Gambling with the House Money and Trying to Break Even: The Effects of Prior Outcomes on Risky Choice。Management Science,36(6),643-660。  new window
62.Davis, Keith(1973)。The Case for and Against Business Assumption of Social Responsibilities。The Academy of Management Journal,16(2),312-322。  new window
63.Jones, Thomas M.(1995)。Instrumental stakeholder theory: A synthesis of ethics and economics。The Academy of Management Review,20(2),404-437。  new window
64.Margolis, Joshua D.、Walsh, James P.(2003)。Misery Loves Companies: Rethinking Social Initiatives by Business。Administrative Science Quarterly,48(2),268-305。  new window
65.Pava, M. L.、Krausz, J.(1996)。The Association between Corporate Social-Responsibility and Financial Performance: The Paradox of Social Cost。Journal of Business Ethics,15(3),321-357。  new window
66.Baker, Malcolm、Wurgler, Jeffery(2004)。Appearing and disappearing dividends: the link to catering incentives。Journal of Financial Economics,73(2),271-288。  new window
67.Baker, Malcolm、Wurgler, Jeffery(2004)。A catering theory of dividends。Journal of Finance,59(3),1125-1165。  new window
68.Hackbarth, Dirk(2008)。Managerial traits and capital structure decisions。Journal of Financial and Quantitative Analysis,43(4),843-882。  new window
69.Kim, Yongtae、Park, Myung Seok、Wier, Benson(2012)。Is earnings quality associated with corporate social responsibility?。The Accounting Review,87(3),761-796。  new window
70.Carhart, Mark M.(1997)。On persistence in mutual fund performance。The Journal of Finance,52(1),57-82。  new window
71.Dhaliwal, Dan S.、Li, Oliver Z.、Tsang, Albert、Yang, Yong G.(2011)。Voluntary nonfinancial disclosure and the cost of equity capital: The initiation of corporate social responsibility reporting。The Accounting Review,86(1),59-100。  new window
72.Graves, Samuel B.、Waddock, Sandra A.(1994)。Institutional Owners and Corporate Social Performance。Academy of Management Journal,37(4),1034-1046。  new window
73.Jensen, Michael C.(2001)。Value maximization, stakeholder theory, and the corporate objective function。Journal of Applied Corporate Finance,14(3),8-21。  new window
74.Kim, Yongtae、Li, Haidan、Li, Siqi(2014)。Corporate Social Responsibility and Stock Price Crash Risk。Journal of Banking and Finance,43,1-13。  new window
75.Tversky, Amos、Kahneman, Daniel(1981)。The Framing of Decisions and the Psychology of Choice。Science,211(4481),453-458。  new window
76.Akerlof, George A.(1980)。A Theory of Social Custom, of Which Unemployment May Be One Consequence。Quarterly Journal of Economics,94,749-775。  new window
77.Petrenko, Oleg V.、Aime, Federico、Ridge, Jason、Hill, Aaron(2016)。Corporate social responsibility or CEO narcissism? CSR motivations and organizational performance。Strategic Management Journal,37(2),262-279。  new window
78.Preston, Lee E.、O'Bannon, Douglas P.(1997)。The Corporate Social-Financial Performance Relationship: A Typology and Analysis。Business and Society,36(4),419-429。  new window
79.Orlitzky, Marc、Schmidt, Frank L.、Rynes, Sara L.(2003)。Corporate Social and Financial Performance: A Meta-Analysis。Organization Studies,24(3),403-441。  new window
80.Gompers, Paul A.、Ishii, Joy L.、Metrick, Andrew(2003)。Corporate Governance and Equity Prices。The Quarterly Journal of Economics,118(1),107-156。  new window
81.Kahneman, Daniel、Tversky, Amos(1979)。Prospect Theory: An Analysis of Decision under Risk。Econometrica: Journal of the Econometric Society,47(2),263-292。  new window
82.Schuler, Douglas A.、Cording, Margaret(2006)。A Corporate Social Performance-Corporate Financial Performance Behavioral Model for Consumers。Academy of Management Review,31(3),540-558。  new window
83.Aupperle, Kenneth E.、Carroll, Archie B.、Hatfield, John D.(1985)。An Empirical Examination of the Relationship between Corporate Social Responsibility and Profitability。Academy of Management Journal,28(2),446-463。  new window
84.Goss, Allen、Roberts, Gordon S.(2011)。The Impact of Corporate Social Responsibility on the Cost of Bank Loans。Journal of Banking and Finance,35(7),1794-1810。  new window
85.Ioannou, Ioannis、Serafeim, George(2015)。The Impact of Corporate Social Responsibility on Investment Recommendations: Analysts' Perceptions and Shifting Institutional Logics。Strategic Management Journal,36(7),1053-1081。  new window
86.Waddock, Sandra A.、Graves, Samuel B.(1997)。The Corporate Social Performance-Financial Performance Link。Strategic Management Journal,18(4),303-319。  new window
87.池祥麟(20151200)。企業社會責任與財務績效的關聯。社區發展季刊,152,19-34。new window  延伸查詢new window
88.Alexander, Gordon J.、Buchholz, Rogene A.(1978)。Corporate Social Responsibility and Stock Market Performance。Academy of Management Journal,21(3),479-486。  new window
89.Bénabou, Roland、Tirole, Jean(2010)。Individual and Corporate Social Responsibility。Economica,77(305),1-19。  new window
90.Berle, Adolf A. Jr.(1932)。For Whom Corporate Managers Are Trustees: A Note。Harvard Law Review,45(8),1365-1372。  new window
91.Friedman, Milton(19700913)。The Social Responsibility of Business is to Increase Its Profits。The New York Times Magazine,3(13),32-33+122-126。  new window
92.Griffin, Jennifer J.、Mahon, John F.(1997)。The Corporate Social Performance and Corporate Financial Performance Debate: Twenty-Five Years of Incomparable Research。Business and Society,36(1),5-31。  new window
93.McWilliams, Abagail、Siegel, Donald S.(2000)。Corporate social responsibility and financial performance: Correlation or misspecification?。Strategic Management Journal,21(5),603-609。  new window
94.Moskowitz, Milton R.(1972)。Choosing Socially Responsible Stocks。Business and Society Review,1(1),71-75。  new window
95.Hillman, Amy J.、Keim, Gerald D.(2001)。Shareholder Value, Stakeholder Management, and Social Issues: What's the Bottom Line?。Strategic Management Journal,22(2),125-139。  new window
96.McWilliams, Abagail、Siegel, Donald S.(2001)。Corporate Social Responsibility: A theory of the Firm Perspective。Academy of Management Review,26(1),117-127。  new window
97.Ullmann, Arieh A.(1985)。Data in Search of a Theory: A Critical Examination of the Relationships among Social Performance, Social Disclosure, and Economic Performance of U.S. Firms。The Academy of Management Review,10(3),540-557。  new window
98.Cremers, M.、Nair, V.(2005)。Governance mechanisms and equity prices。The Journal of Finance,60(6),2859-2894。  new window
99.Jensen, Michael C.、Meckling, William H.(1976)。Theory of the firm: Managerial behavior, agency costs and ownership structure。Journal of Financial Economics,3(4),305-360。  new window
100.Dodd, E. Merrick Jr.(1932)。For Whom are Corporate Managers Trustees?。Harv. L. Rev.,45(7),1145-1163。  new window
101.Simpson, W. Gary、Kohers, Theodor(2002)。The link between social and financial performance: evidence from the banking industry。Journal of business ethics,35(2),97-109。  new window
研究報告
1.Galasso, A.、Simcoe, T.(2010)。CEO overconfidence and innovation。  new window
2.Ben-David, Itzhak、Graham, John R.、Harvey, Campbell R.(2007)。Managerial overconfidence and corporate policies。Duke University, Fuqua School of Business。  new window
3.Simon, Gervais、Heaton, J. B.、Odean, T.(2008)。Overconfidence, Investment Policy, and Manager Welfare。Fuqua School of Business, Duke University。  new window
圖書
1.Levering, Robert、Moskowitz, Milton、Katz, Michael(1984)。The 100 Best Companies to work for in America。Reading, Massachusetts:Addison-Wesley Publishing Company。  new window
2.賴英照(2008)。賴英照說法:從內線交易到企業社會責任。臺北:聯經。  延伸查詢new window
3.Levering, R.、Moskowitz, M.(1993)。The 100 Best Companies to Work for in America。New York, NY:Plume。  new window
4.Brealey, R. A.、Myers, S. C.、Allen, F.(2011)。Principles of Corporate Finance。New York:McGraw-Hill/Irwin。  new window
5.Margolis, J. D.、Walsh, J. P.(2001)。People and profits? The search for a link between a company's social and financial performance。Mahwah, NJ:Lawrence Erlbaum Associates Publishers。  new window
6.Freeman, Robert Edward(1984)。Strategic Management: A Stakeholder Approach。Pitman。  new window
其他
1.(2016)。SRI (Sustainable and Responsible Investment) Study 2016,https://www.eurosif.org/sri-study-2016/。  new window
2.(2016)。The Global Sustainable Investment Review 2016,http://www.gsi-alliance.org/members-resources/trends-report-2016/。  new window
3.Oliver, B. R.,McCarthy, S.,Song, S.(2014)。CEO Overconfidence and Corporate Social Responsibility,https://ssrn.com/abstract=2400953, 。  new window
4.(2016)。Report on US Sustainable, Responsible, and Impact Investing Trends,http://www.ussif.org/trends。  new window
圖書論文
1.Arrow, K.(1972)。Models of Job Discrimination。Racial Discrimination in Economic Life。Lexington, Massachusetts:D.C. Heath and Company。  new window
2.Kurtz, L.(1998)。"Mr. Markowitz, Meet Mr. Moskowitz": A Review of Studies on Socially Responsible Investing。The Investment Research Guide to Socially Responsible Investing。  new window
3.Martin, R. L.(2003)。The Virtue Matrix: Calculating the Return on Corporate Responsibility。Harvard Business Review on Corporate Responsibility。Harvard Business School Press。  new window
 
 
 
 
第一頁 上一頁 下一頁 最後一頁 top
:::
無相關書籍
 
無相關著作
 
QR Code
QRCODE