A Study on the Relationship Between CSR and Financial Performance

• Main Authors: Hsin-Hui Tsai, 蔡欣惠
• Other Authors: Ai-Chi Hsu
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/97443134190626809151

碩士 === 國立雲林科技大學 === 財務金融系碩士班 === 99 === In the past the pursuit of profit maximization is business purpose, with global corporate social Responsibility(CSR) is becoming issues of concern, incurred to thought what is associated of corporate social responsibility and corporate financial performance ? Therefore, most researchers in this study used return on assets(ROA), return on equity(ROE) and earnings per share (EPS) as the main measure of financial performance indicators .The economic variables often exist interaction between each other explanatory variables, so this study used three-stage least squares (3SLS)as the estimation method is different from most of the international research of multiple regression method, which is prone to bias without taking into account the variables impact between each other. Empirical results are as follows: 1. A significant positive relationship between total shareholders'' equity and CSR showed significant said that the more capital company owns, the more ability to fulfill our corporate social responsibility. 2. A significant positive relationship between CSR means that companies can improve the relationship with stakeholders, to enhance corporate financial performance. 3. Ratio of total foreign investment and CSR has a significant positive relationship means that the wave corporate social responsibility in the Western has influence to the East, and the higher foreign ownership of enterprises, the more emphasis on social responsibility performance. 4. A significant positive relationship between CSR and earnings per share showed that the better of financial performance ,the more capable of corporate social responsibility. Keywords: CSR、financial performance、three-stage least squares (3SLS)