本研究欲探討什麼因素會對公司在企業社會責任的投資決策產生影響。本文蒐集了2006~2015年臺灣上市櫃公司共10210筆觀察樣本(firm-year observations)。實證結果顯示資產規模較大的公司、獲利能力較佳的公司、公司所處產業較競爭的公司以及廣告支出占比較高的公司會更有意願投資在企業社會責任上。此外，有較佳公司治理機制的企業在企業社會責任議題上的表現也較佳。最後，本研究發現董事長的教育程度以及董事長與公司被媒體報導的次數都與公司在企業社會責任議題上的績效呈現正相關，這個結果說明了媒體報導以及公司領導者的個人背景因素都會影響其在企業社會責任議題上的投資決策。

The purpose of this paper is to investigate which factors will have an impact on the firm decisions of making Corporate Social Responsibility (CSR) investments. We collect data from 2006 to 2015 of the listed companies in Taiwan, totally 10210 firm-year observations. Our results show that larger firms, more profitable firms, firms in a more competitive industry, and firms with higher advertising expenditure ratios are more likely to invest in CSR. In addition, firms with better corporate governance mechanisms will demonstrate better CSR performance. Finally, we find a positive connection between the educational level of the chairperson, the level of the media coverage surrounding the firm and its chairperson, and the level of CSR performance of the firm. These results suggest that media exposure and the personal background of the firm leaders will both affect their decisions of making socially responsible investments.

目 錄
論文審定書 ......................................................................................................................... i
摘要.................................................................................................................................... ii
表次.................................................................................................................................... iv
第一章、緒論......................................................................................................................1
第一節、研究背景...............................................................................................................1
第二節、研究動機與目的....................................................................................................2
第二章、文獻回顧...............................................................................................................4
第一節、企業社會責任與公司特性......................................................................................4
第二節、企業社會責任與公司治理.....................................................................................5
第三節、企業社會責任與公司領導者..................................................................................6
第三章、研究設計..............................................................................................................8
第一節、變數衡量..............................................................................................................8
第二節、樣本與資料來源..................................................................................................12
第三節、實證模型............................................................................................................14
第四章、實證結果與分析.................................................................................................15
第一節、敘述性統計........................................................................................................15
第二節、相關係數分析....................................................................................................19
第三節、迴歸分析............................................................................................................22
第五章、研究結論............................................................................................................30
參考文獻...........................................................................................................................31

CSRone 永續報告平台: http://www.csronereporting.com/
台灣證券交易所公司治理中心: http://cgc.twse.com.tw/
中華民國企業永續發展協會: http://www.bcsd.org.tw/
天下雜誌: http://topic.cw.com.tw/csr
遠見雜誌: https://www.gvm.com.tw/CSR
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