企業社會責任落實程度與經營績效之關聯性

The Correlation between the degree of Corporate Social Responsibility Implementation and Business Performance

本研究以2015年至2020年入選台灣就業99指數、台灣高薪100指數、台灣公司治理100指數之企業做為研究樣本。將同時入選兩個指數或是僅入選一個指數之成分股與同產業且資產總額相差100億以內之非指數成分股公司進行配對，探討企業善盡社會責任對經營績效是否有正向之影響。實證結果發現，企業社會責任表現較佳之企業對其ROA、ROE有正向顯著的影響，但對EPS則未有顯著之影響。在CSR係數方面，入選企業社會責任指數兩次之成分股高於僅入選企業社會責任指數一次之成分股，隱含著入選企業社會責任相關指數且落實程度越高之企業，愈有助於提升其ROA與ROE。

In this study, corporates that have been selected into Taiwan EMP 99 Index, Taiwan HC 100 Index and TWSE CG 100 Index from 2015 to 2020 are used as research samples. Match the constituent stocks selected into two indexes or only one index with non-index constituent companies in the same industry with a total asset difference of less than 10 billion to explore whether corporate social responsibility has a positive impact on Operating Performance. The empirical results show that companies with better corporate social responsibility performance have a positive and significant impact on their ROA and ROE, but have no significant impact on EPS. In terms of CSR coefficient, the constituent stocks selected twice in the corporate social responsibility index are higher than the constituent stocks selected only once in the corporate social responsibility index. It implies that companies that have been selected into the relevant index of corporate social responsibility and have a higher degree of implementation will help improve their ROA and ROE.