企業接班人選擇與公司治理 、社會責任與財務績效間系統動態關係之研究

Abstract

CEO (Chief Executive Officer)對於公司治理、財務績效扮演關鍵性的重要角色，此外，社會責任也是企業所需積極面對的普世議題，而且如何延續公司治理、社會責任與財務績效的發展，為選擇企業接班人的重要考量。而過去相關的研究，大多著重於公司治理、社會責任與財務績效三者間之個別或兩兩間的討論，並未以企業接班人選擇的觀點作為探討的基礎。因此，本研究利用系統動態學探討企業接班人選擇、公司治理、社會責任與財務績效間的動態因果關係，並以個案公司佐以統計實證。研究結果發現：1.企業接班人選擇及社會責任正向影響公司治理並進而影響財務績效；2.財務績效回饋同時影響企業接班人選擇及公司治理；3. CEO的道德與人性關懷程度正向影響公司治理、社會責任及企業接班人選擇；4.企業接班人選擇對於公司的治理機制扮演關鍵驅動角色。此外，本研究結果顯示CEO的道德與人性關懷程度對於公司治理、社會責任與財務績效間的動態因果關係，同樣具有驅動性的角色，因此建議在選擇企業接班人時，同時應將CEO的道德與人性關懷列入重要的考量指標。

Corporate chief executive officer (CEO) plays a critical role in firm’s corporate governance (CG) and financial performance (FP). Corporate social responsibility (CSR) is a universal issue that all enterprises face. How to extend the development of CG, CSR and FP is an important concern in enterprises’ selection of successors. Previous researches have mostly focused on CG, CSR, FP and the relationships between them; and seldom considered the enterprises’ selection of successors as a factor in this area. The aim of this study is to explore the dynamic causal relationships among the enterprises’ selection of successors, CG, CSR and FP using system dynamics (SD) approach. The findings of this study are as follows: 1. the enterprises’ selection of successors and CSR positively influence CG and FP; 2. the feedback from FP influences the enterprises’ selection of successors and then CG; 3. the degree of morality and humanity caring of CEO positively influence CG, CSR and the selection of successors; and 4. the enterprises’ selection of successors plays a vital role in firm’s CG mechanism. These findings indicate that the degree of morality and humanity caring of CEO influences the dynamic causal relationships among CG, CSR and FP. Therefore, in selecting enterprises’ successors, firms should consider morality and humanity caring of CEO as important indicators.