A Connection between Voluntary CSR Disclosure and Firm Performance and Cost of Equity-Evidence from Listed Companies in Taiwan

論文翻譯標題: 自願執行及揭露CSR與公司績效及權益資金成本之關聯:以台灣上市公司為例
  • 楊 亞琪

學生論文: Master's Thesis


Corporate social responsibility (CSR) is receiving a growing attention from both academic researchers and business managers In Taiwan through vigorous promotion by government more and more firms start to engage in CSR and do CSR reports Market Observation Post System (Mops) disclosed the reason for firms do CSR reports with 60% of them are mandatory and 40% of them are voluntary disclosure Prior research use the CSR winners awarded by Common Wealth Magazine to examine the relation between CSR and firm performance as well as cost of capital The results suggests that CSR effectively improves a firm’s performance and decreases the cost of capital Compared to prior research we include all firms that submit their CSR reports rather than awarded firms only in 2014 and 2015 Furthermore we classify them into voluntary and mandatory disclosure We are curious about whether firms implement and report their corporate social responsibility on their own will would improve their firm performance and decrease cost of equity The results suggest that firm performance gets better with a small extent through voluntary disclosure while the change on cost of equity is insignificant
獎項日期2017 6月 19
監督員Shao-Huai Liang (Supervisor)