標題: 公司的企業社會責任表現有助於降低董事辭任對績效的負面影響?
Does Corporate Social Responsibility Performance Help to Alleviate the Negative Effects of Directors’ Resignation on Firm Performance?
作者: 李孟蒓
張元
Meng-Chuen Li
Yuan Chang
關鍵字: 企業社會責任;董事辭任;Corporate Social Responsibility;Director Resignation
公開日期: 25-一月-2024
出版社: 國立陽明交通大學經營管理研究所
Institute of Business and Magement, National Yang Ming Chiao Tung University
摘要: 本研究採用 2008 至 2019 年台灣 1,532 家上市上櫃非金融產業公司的資料,檢驗公司董事辭任對次期會計績效與市場績效的影響,並考量公司企業社會責任表現的調節效果。實證結果顯示不論一般董事或獨立董事,董事辭任對次期會計績效與市場績效皆導致顯著負向影響,但企業社會責任表現愈佳的公司,次期績效下跌的幅度愈小。本研究證實了企業的社會責任表現可扮演公司發生或面對負面事件時的保險與緩衝機制,企業善盡社會責任有助於減輕公司的董事辭任對後續績效造成的負向衝擊。
Based on data of 1,532 listed nonfinancial firms on the Taiwan Stock Exchange and the Taipei Exchange through 2008~2019, this study examines the effects of director’s resignation on firm performance. In addition, moderating effect of corporate social responsibility (CSR) performance on the above relationship is incorporated into analysis. Empirical result shows that the resignation of both inside director and independent director is negatively correlated with subsequent accounting performance and market performance. Furthermore, firm with better performance on CSR tends to enjoy a smaller decline in subsequent performance. The empirical result confirms that CSR plays an insurance role of performance, when firms experience negative events such as director resignation, firms with better CSR performance are less negatively impacted.
URI: http://dx.doi.org/10.29416/JMS.202401_31(1).0001
http://hdl.handle.net/11536/162602
ISSN: 1023-9863
DOI: 10.29416/JMS.202401_31(1).0001
期刊: 管理與系統
Journal of Management and Systems
Volume: 31
Issue: 1
起始頁: 1
結束頁: 48
顯示於類別:管理與系統