On the Association between Corporate Social Responsibility Reporting and the Cost of Equity Capital: Evidence from Taiwan Listed Firms

論文翻譯標題: 企業社會責任揭露與權益資金成本之關聯性-以台灣上市公司為例
  • 廖 翊傑

學生論文: Master's Thesis

摘要

This study examines the association between corporate social responsibility (CSR) disclosure and the cost of equity capital for listed firms in Taiwan We construct two models to test the association Our empirical results show that firms publishing standalone CSR reports can really have a subsequently lower cost of equity capital and are also rewarded by investors with being asked for a lower premium if they publish the reports for the first time However it is a pity that there is not a negative relationship between CSR reporting by those companies with better CSR performance and their cost of equity capital which is against our expectation This finding might owe to the fact that there are no institutes which consistently evaluate the CSR performance of listed firms in Taiwan We can only judge whether firms have superior CSR performance among their industry peers through the survey of magazine publishers The results show that a firm’s CSR performance does not have a moderating effect on the association between CSR disclosure and the cost of equity capital
獎項日期2016 七月 12
原文English
監督員Meng-Feng Yen (Supervisor)

引用此

On the Association between Corporate Social Responsibility Reporting and the Cost of Equity Capital: Evidence from Taiwan Listed Firms
翊傑, 廖. (Author). 2016 七月 12

學生論文: Master's Thesis