預應式環境策略與出口商績效：研發密集度與管制嚴格市場佔比的中介與干擾角色

Proactive Environmental Strategy and the Performance of Exporting Firms: Mediating and Moderated Roles of R&D Intensity and Sales Ratio in a Strict Environmental Regulation Market

值得對環境負責嗎？這個問題因為廠商採行預應式環境策略因而衍生的環境成本與廠商的全球競爭力間的替換關係而被爭議許久，我們需要能平衡經濟與環境考量的雙元俱存架構來處理預應式環境策略與績效之間的關係。基於自然資源基礎理論與制度理論，本研究建議出口的目標市場之選擇是一個重要的策略變數，它能夠同時影響環境的顧慮與財務績效的產出。本研究以台灣地區上市公司為樣本，以2010年到2013年的企業社會責任報告書作為廠商環境策略等變數的主要資料來源，如果企業社會責任報告書未揭露績效產出的話，則輔以台灣經濟新報作為績效的資料來源，共收集135筆資料。研究結果顯示：預應式環境策略透過研發密集度影響廠商的績效表現，而在環境管制嚴格地區的銷售佔比會正向干擾預應式環境策略與績效之間的間接關係。

Does it pay to be environmentally responsible? This question has long been debated within the context of the tradeoff between the environmental costs of firms with a proactive environmental strategy (PES) and their global competitiveness. Regarding the PES-performance relationship, we need an ambidextrous framework that balances economic and environmental concerns. Based on the natural resource-based view and institutional theory, this study suggests that the selection of the target export market is an important strategic variable that can affect environmental concerns and financial outcomes simultaneously. Empirical data were collected from the Corporate Social Responsibility Reports of Taiwanese firms and the Taiwan Economic Journal (TEJ). Evidence from 135 Taiwanese export-oriented firms from 2010 to 2013 indicates that R&D intensity played a mediating role in the relationship between PES and firm performance. The sales ratio in markets with strict regulations positively moderated the indirect relationship between PES and firm performance.