The Relationship between Characteristics of Corporate Governance and Corporate Eco-efficiency: A Test of the Life Cycle Hypothesis

• Main Authors: FAN,YI-FUN, 范宜芳
• Other Authors: LIN,YI-HUA
• Format: Others
• Language: zh-TW
• Published: 2017
• Online Access: http://ndltd.ncl.edu.tw/handle/12463066765020959634

碩士 === 南臺科技大學 === 會計資訊系 === 105 === Recent years, environmental protection and corporate social responsibility have been gradually getting more and more attention, and there are many environmental indexes in GRI (Global Reporting Index). Companies will not just focus on financial performance but pay attention on environmental eco efficiency. In different stages of business life cycle, operating goals and efforts for environment protection activities may be different. Therefore, this research attempts to examine the relationship between corporate governance and environmental eco efficiency by introducing the business life cycle concept. We collect environmental performance index data from CSR reports to measure environmental eco efficiency. Our research samples focus on Taiwan’s listed firms which disclosure CSR report from 2011 to 2015. Financial data are obtained from Taiwan Economic Journal Database. We use the sales growth rate (SG), the capital expenditures rate (CEV), the R&D expenses (RDV) and the establishment years (AGE) to determinate the business life cycle stages. The results showed that life cycle has effect on some environmental eco efficiency, and there is positive relationship between corporate governance and environmental eco efficiency. However, for some environmental eco-efficiency, the level of positive relationship is different in different life cycle.