题名

SASB準則下環境社會治理績效與企業績效之關聯性

并列篇名

The Relation between ESG Performance and Firm Performance under SASB

作者

鄭桂蕙(Kuei Hui Cheng)；林宛瑩(Wan-Ying Lin)；汪瑞芝(Jui-Chih Wang)

关键词

SASB ； ESG ； CSR ； 財務績效 ； SASB ； ESG ； CSR ； Financial performance

期刊名称

會計審計論叢

卷期/出版年月

13卷2期（2023 / 12 / 01）

页次

1 - 40

内容语文

繁體中文;英文
中文摘要

本研究採用依照SASB重大性議題指標衡量之ESG績效資訊，並以2SLS模型處理內生性問題，探討台灣上市（櫃）公司之ESG績效（以ESG分數及等級衡量）與企業財務績效（ROA及ROE）間之關聯性。實證結果顯示，ESG績效較佳之企業其財務績效較佳之研究預期未能獲得支持。相反地，財務績效較佳之企業其ESG綜合評分及等級較佳，支持企業寬裕資源理論假說，獲利能力較佳之企業可能較有餘力推展永續行動。此外，基於ESG投入效益可能無法立即顯現，納入主要解釋變數前一期變數的額外分析結果，仍然支持主要研究結論。
英文摘要

Based on the scores and ratings related to the evaluation of ESG material issues under SASB disclosure framework, this study employs a 2SLS model to investigate whether ESG performance enhances firm performance (ROA and ROE) or the other way around by using a sample of Taiwan listed companies over the period of 2018 to 2020. We cannot find evidence that ESG performance (measured in terms of scores and ratings) helps enhance the performance of the firm. However, the empirical results indicate that firm performance is significantly and positively related to ESG performance (both ESG scores and ratings). The findings thus support the slack resources theory that firms with better profitability are more able to commit to their sustainability activities. Due to that the benefits of ESG activities may not have immediate effects, we conduct additional tests by adopting lagged variables of ESG performance or firm performance. The main findings remain consistent.
主题分类 社會科學 > 財金及會計學
社會科學 > 管理學
社會科學 > 法律學
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