| Summary: | 碩士 === 南台科技大學 === 會計資訊系 === 100 === In recent decades, issues on the performance of corporate social responsibility
(CSR) have been getting more and more attention. However, the related literatures
indicate that the CSR does not significantly improve the corporate financial
performance. This study attempts to examine the relationship between CSR and
corporate financial performance from the view of business life cycle. The objective is to
investigate whether the relationship between CSR disclosure and financial performance
is different in different stages.
We use rate of sales growth (SG), rate of capital expenditures (CEV), the R&D
expenses (RDV) and the age of company (AGE) to define the business life cycle stages.
The results show that the CSR disclosure in the growth stage is lower than in other
stages. However, the relationship between CSR and financial performance is
significantly positive in the growth stage.
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