| Summary: | 碩士 === 國立臺北科技大學 === 經營管理系碩士班 === 107 === This study uses the two-stage least square method (2SLS) to explore the impact of corporate social responsibility of China energy industry investment on capital costs and financial performance. In the past, Western studies showed that the implementation of corporate social responsibility contributes to the reduction of the cost of capital and the improvement of financial performance. Therefore, this study wants to explore whether the energy industry is a highly polluting industry, and whether the social responsibilities of its investment companies can reduce the cost of capital and improve financial performance. Performance, while also providing investors and stakeholders as a reference for investment decisions. The “Chinas Corporate Social Responsibility List Expert Evaluation System” used in the study has ten major aspects to measure the impact of corporate social responsibility on capital costs and financial performance. The results of the study found that corporate social responsibility investment in Chinas energy industry will only reduce the cost of debt; in addition, in terms of financial performance, energy companies will expose more corporate social responsibilities, and their financial performance will be better. Overall, the social responsibility of Chinas energy industry investment companies has a significant impact on financial performance. As for the cost of capital, only the cost of debt is relatively significant, so it can also be said that the implementation of corporate social responsibility in the stock market will be more responsive than bonds market. This can encourage Chinas energy industry to invest in corporate social responsibility .
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