A Study of Relationship between Corporate Social Responsibility and Firm's Value : The Effect of Intangible Assets.

• Main Authors: Ping-Ting Tsai, 蔡秉庭
• Other Authors: Mao-Chang Wang
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/n5wu3d

碩士 === 中國文化大學 === 會計學系 === 103 === Over the last few years, the Global Financial Crisis and Food Safety Scandals in succession had declined public confidence in capital market. As a result, corporate social responsibilities (hereafter, ‘CSR’) have become a trend for entities to pursuit sustainable operations and to enhance competitiveness. However, whether an entity could improve its corporate value by fulfilling its CSR is an important research topic, but the current academic research for the purposes of CSR is for better or worse controversial, some scholars believe that if companies engage in social responsibility activities will enable enterprises must allocate funds to other resources, which led to the cost of upgrading enterprises, reducing corporate profits. Therefore, this paper Taiwanese corporate as research samples, conduct CSR and corporate value relevance research paper in addition to the main elements of CSR and corporate value of the different variables set up outside, and further to CSR and corpo-rate value and post items as intangible assets multiplied impact test variables, after re ordinary least squars method analysis found that CSR and corporate value having a sig-nificant correlation, confirming business CSR can enhance corporate value, and to make research more depth , simultaneous equations used in this study and further analysis showed that CSR through the intangible value of the enterprise has a negative relation-ship, which means that, when the company implemented a CSR of enterprises and large capital investment in intangible assets, companies will likely bear higher business costs, reduce the competitive advantage that companies decline in value.