本研究目的在探討台灣電子產業在資本市場中，受到企業社會責任與公司治理影響，其與股票報酬之關係。我們以電子菁英30指數成分股來驗證企業社會責任與公司治理對其長短期股票報酬之影響。本論文研究發現，企業規模與企業社會責任呈現高度正相關性；在公司治理方面，獨立董監事比率對短期股票報酬有顯著正相關影響結果；在董事長是否兼任或專任總經理方面，該因素對在長期股票報酬有顯著負相關影響結果。另外在產業影響部分，半導體產業對長期股票報酬有顯著正相關的影響。

The purpose of this study is to examine whether the Taiwan electronics industry is affected by corporate social responsibility (CSR) and corporate governance in the capital market. We use the constituent stocks of the Electronics Elite 30 Index to verify the impact of CSR and corporate governance on their short- and long-term stock returns. In this paper, we found that corporate size and CSR have a high positive correlation; In terms of corporate governance, the ratio of independent directors and supervisors has a significant positive effect on short-term stock returns; In terms of whether the chairman is also the general manager, this factor has a significant negative effect on long-term stock returns. In addition, the semiconductor industry has a significant positive impact on long-term stock returns.

目錄
論文審定書i
誌 謝ii
摘 要iii
Abstractiv
圖次vii
表次viii
第一章 緒論1
第一節 概論企業社會責任1
第二節 研究動機4
第三節 研究目的4
第四節 研究架構與流程5
第二章 文獻回顧6
第一節 企業社會責任6
第二節 公司治理9
第三節 社會責任、公司治理與股票報酬11
第三章 研究方法13
第一節 變數之解釋13
第二節 定義方法14
第三節 樣本選取16
第四章 實證分析20
第一節 企業社會責任與股票報酬敘述性統計20
第二節 公司治理部分與股票報酬26
第三節 企業社會責任、公司治理與股票報酬與股票報酬26
第四節 公司治理部分與股票報酬27
第五章 結論與建議31
第一節 研究結論31
第二節 建議31
參考文獻33
附錄37
附錄表1 企業社會責任SIZE企業規模37
附錄表2 企業社會責任MG產業屬別(以次產業區分)39
附錄表3 公司治理結構董事長兼任總經理MS42
附錄表4 公司治理部分前十大股東持股BSH44
附錄表5 公司治理結構獨立董事比例MS47
附錄表6 指數成分股之次產業名稱及其權值比重50

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