本計畫考量公司在企業社會責任投入的動機以及策略。並研究兩者以及交互關係如何影響企業社會責任投入與公司價值的關係。此研究將為第一個針對Martin (2002)提出之道德矩陣設計之大型實證研究。本研究將以台灣市場為主，並將公司自願發布企業社會責任報告書作為道德矩陣中前緣之代理變數。本研究並將運用企業社會報告書中重大議題矩陣之資訊來區辨道德矩陣中策略前緣以及結構前緣公司。利用重大議題矩陣建構之變數將補充目前國際性資料庫對台灣公司企業社會責任或環境、社會、公司治理收錄的不足。亦即，本文提出之股東與利害關係人一致性的變數對於相關研究在台灣的發展會有重大的貢獻。未來本研究提出之變數建構方法也可以適用於其他國家。 ;This project considers the motivation and strategic value behind CSR (Corporate Social Responsibility) investment and more specifically whether a firm voluntarily engages in CSR investment and whether a firm strategically aligns its CSR investment with its long-term development. We study how both factors and their interactions affects the connection between CSR investment and the firm’s value. This project will be the first large-scale study to empirically test the concept of the virtue matrix proposed by Martin (2002). We will study CSR investments in the Taiwan market and assume that Taiwanese firms that voluntarily publish CSR reports are more likely to be frontier firms based on the virtue matrix. We further utilize information from the materiality matrix in CSR reports to identify whether a firm is more likely to be a strategic frontier or a structural frontier. The strategic frontier variables constructed in this study will be complementary to the existing coverage on CSR or ESG (Environment, Social, Governance) in the major databases, especially in Taiwan. This project should enrich the CSR or ESG studies in Taiwan by providing a novel measure in the stakeholder/shareholder alignment. The procedure can even be applied to a global sample given that the majority of CSR reports follow GRI Standards.