財報品質是否改善企業社會責任的投資效率

Abstract

在本篇文章中，我們檢視財報品質是否改善企業社會責任效率。我們發現財報品質在資訊不對稱和代理問題上有顯著減緩的作用，從而提高企業社會責任的效率。研究結果證明財報品質可以有效改善企業社會責任的效率，在企業社會責任投入不足(過度投入)的公司，增加(減少)其企業社會責任的投入。同時，我們也將企業社會責任拆分為環境和社會兩個層面做個別分析，發現其結果皆符合我們的假說預期。

In this study, we examine whether financial reporting quality improve corporate social responsibility (CSR) in terms of efficiency. We find financial reporting quality serves a mitigating role in information asymmetry and agency problem and leads to an improvement on CSR efficiency. Our findings show that financial reporting quality is positively (negatively) associated with CSR among firms with higher likelihood of under-CSR (over-CSR); Meanwhile, we decompose CSR into environmental and social dimensions and find the same results in the analysis consistent with our hypothesis.