高碳排企業永續報告書可讀性分析及對公司績效的影響

The Readability Analysis of Sustainability Reports in High-Carbon Emission Companies and Its Impact on Corporate Performance

本研究以台灣前三十大高碳排公司永續報告書可讀性進行分析，研究發現環境、社會責任及公司治理可讀性指數值都偏高，意即報告書不易閱讀，以「難字數」過多最為關鍵，建議以較口語語彙來取代專業術語，便於利害關係人閱讀。進一步，分析台灣高碳排及電子工業公司永續報告書可讀性數值（INDEX）對公司績效（ROA）的影響，研究假設報告書可讀性高公司有較佳績效，而結果顯示公司治理評鑑排名較佳的公司其可讀性指數越高，資產報酬率（ROA）及股東權益報酬率（ROE）越高，此結果表示公司治理較佳的公司，其報告書可讀性越低，則公司績效越高。推論因電子工業技術及創新產品快速更迭，導致難字數多可讀性低。總結，目前公司永續報告書實屬不易閱讀，依報告書可讀性來推論公司績效屬負向相關，需更多研究資料來證實其相關性。

This study analyzed the readability of sustainability reports from Taiwan's top 30 high carbon emission companies. It was found that the readability indexes（INDEX）for environmental, social responsibility, and corporate governance reports were high, indicating difficulty in reading. The primary issue was the excessive use of difficult words, suggesting the need to replace jargon with more colloquial terms. Furthermore, the analysis indicated that companies with higher corporate governance rankings had higher readability indexes but lower return on assets（ROA）and return on equity（ROE）. This implies that companies with better governance have less readable reports and better performance, possibly due to rapid technological advancements and innovation. In conclusion, sustainability reports are challenging to read, and there is a negative correlation between report readability and company performance, warranting further research.