| Summary: | 碩士 === 國立臺北大學 === 企業管理學系 === 107 === Human not only brings goods but also brings many harms to society while developing. Since more and more people value sustainable development, many companies have begun to focus on how to make their business sustainable and value their investment in Environment, Social, and Corporate Governance (ESG). Taking corporate social responsibility as a measure to be sustainable is a challenge for managers to balance their financial situation with the investment of social responsibility.
This study is a two-stage study. First, we analyzed the characteristics of Corporate Social Responsibility (CSR) indicators and corporate financial performance (CFP) by EM clustering. Afterward, we find out the difference in diverse industry and scale. According to the results, the cluster-based on mining and transportation & public utilities industry put more effort in CSR projects such as the Environment, Community, Employee Relations and so on, to neutralize damage of its business. On the other hand, instead of investing in CSR, some companies regard financial performance as a priority.
Through causality analysis, we found that good management theory, stakeholder contract costs theory, trade-off hypothesis, and affordability theory can well explain the relationship between CSR and CFP in a specific cluster. At the same time, the results also demonstrate that different industries and scales will affect the strategy towards CSR and CFP.
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