本研究以2003年至2020年美國上市公司為樣本，以政治一致性為核心，探討影響企業政治一致性的因子，並延伸分析地理擴張程度對政治一致性的影響及政治一致性對企業違規行為的關聯。政治一致性指標是依循Stuckatz (2022b) 的方法，透過自動化配對技術將FEC個人捐款資料加以連結建構而成，並將數據資料擴充至2020年。實證結果顯示，地理擴張程度越高的公司，其政治一致性反而越高，本研究也認為此一結果可能是跨州經營使員工組成更加多元，平均後趨近於公司PAC的中立立場。在違規方面，政治一致性越高的公司，企業違規罰金也越高。上述結果在加入財務控制變數與固定效果後依舊維持。

This study examines a sample of U.S. listed companies from 2003 to 2020, with political alignment as the central focus. We investigate the determinants of firm-employee political alignment, and further explore the effect of geographic dispersion on political alignment as well as the association between political alignment and violation penalties. The political alignment measure follows the methodology of Stuckatz (2022b), constructed by linking FEC individual contribution records through automated matching techniques, with the dataset extended to 2020. Empirical results show that firms with greater geographic dispersion exhibit higher levels of political alignment. We suggest that this finding reflects the increasingly diverse political composition of employees as firms expand across states, with the average employee stance converging toward the neutral position of the corporate PAC. With respect to violations, firms with higher political alignment incur higher violation penalties. These findings remain consistent after controlling for financial variables and fixed effects.

目錄
論文審定書.................................................................................................................i
摘要............................................................................................................................ii
Abstract......................................................................................................................iii
目錄...........................................................................................................................iv
圖目錄.......................................................................................................................vi
表目錄.......................................................................................................................vii
第一章 緒論.............................................................................................................1
1-1 研究動機...........................................................................................................1
1-2 研究目的...........................................................................................................1
第二章 文獻回顧....................................................................................................3
2-1 影響政治一致性的可能因子..........................................................................3
2-2 政治一致性與企業違規行為..........................................................................4
2-3 假說建立..........................................................................................................4
第三章 資料與研究方法.......................................................................................6
3-1樣本選擇...........................................................................................................6
3-2變數定義...........................................................................................................6
3-2-1 政治一致性之衡量..............................................................................…….6
3-2-2 地理擴張之衡量...........................................................................................8
3-2-3 控制變數.......................................................................................................8
3-3 實證模型建立..................................................................................................8
第四章 實證結果...................................................................................................10
4-1資料說明...........................................................................................................10
4-2 政治一致性敘述性統計表..............................................................................10
4-2-1 複製驗證.......................................................................................................10
4-2-2 圖表分析.......................................................................................................10
4-3 地理擴張程度與政治一致性之關聯...............................................................12
第五章 政治一致性對企業違規行為之關聯 ......................................................14
5-1 樣本選擇...........................................................................................................14
5-2 變數定義...........................................................................................................14
5-2-1 企業違規罰金................................................................................................14
5-2-2 控制變數........................................................................................................15
5-2-3 實證模型........................................................................................................15
5-3 實證結果............................................................................................................16
第六章 結論.............................................................................................................17
參考文獻...................................................................................................................18
 
圖目錄
• 圖一　政治一致性指數之時間變化趨勢(個人層級) .................................32
圖二　政治一致性指數之時間變化趨勢(公司層級) .................................33
圖三　美國五十州政治一致性分布圖（個人層級）................................34
圖四　美國政治一致性分布圖（公司層級）............................................35
圖五　依公司規模分組之政治一致性分布................................................36
圖六　依公司年齡分組之政治一致性分布................................................37
圖七　以SIC一位碼分類之政治一致性分布............................................38
圖八　依SOC二位碼職業分類之政治一致性分布..................................39





表目錄
表一　敘述統計表（個人層級） ..........................................................................20
表二　敘述統計表（公司層級）..........................................................................21
表三　公司員工數（規模）與政治一致性（個人層級）..................................22
表四　公司員工數（規模）與政治一致性（公司層級）..................................23
表五　地理擴張與政治一致性回歸結果（個人層級）......................................24
表六　地理擴張與政治一致性回歸結果（公司層級）......................................25
表七　地理擴張虛擬變數與政治一致性的回歸結果（個人層級）..................26
表八　地理擴張虛擬變數與政治一致性的回歸結果（公司層級）..................27
表九　政治一致性與職場安全及營運安全違規罰金..........................................28
表十　政治一致性對企業環境及其他類型違規..................................................30

吳佳蓁，2026，地理擴張與公司職場安全違規表現，碩士論文，國立中山大學。
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