| 摘要: | 近年來隨著大眾價值觀的改變，女性意識逐漸抬頭，亞洲各國也逐漸在推動董事多元化，本國金管會自2019年起積極落實推動兩性平等相關政策，而隨著越來越多女性擔任領導人的角色，企業社會責任的議題也備受討論，若企業履行越多的企業社會責任是否會增加企業之財務績效，為一值得探討之議題。
本研究旨在探討女性董事與企業社會責任之間的關聯性以及企業社會責任與財務績效之間是否透過員工離職率進而影響財務績效，以女性董事比例作為女性董事之代理變數；以企業社會責任報告書中社會公益之員工部分作為代理變數；以員工流動率作為員工離職率之代理變數；以資產報酬率、股東權益報酬率及Tobin’s Q作為財務績效之代理變數，並以2014年至2018年間台灣上市、上櫃之電子公司進行研究，針對研究樣本進行敘述性統計分析、Pearson 相關性分析、迴歸分析以及中介分析，以檢定各變數之間之關係及驗證本研究之假說。
經實證結果顯示，女性董事與企業社會責任呈現正向顯著關係，表示女性董事越多，企業落實企業社會責任越多；企業社會責任與資產報酬率以及Tobin’s Q之間呈現不顯著相關，表示企業落實企業社會責任對於資產報酬率以及Tobin’s Q不會有任何影響；企業社會責任對於員工離職率呈現負向顯著關係，表示企業越落實企業社會責任可使員工離職率降低；員工離職率對於財務績效皆呈現負向顯著關係，表示員工離職率越高，會讓公司各項成本增加使財務績效降低；員工離職率在企業社會責任與財務績效之間具有中介效果，表示當當企業越落實企業社會責任時，員工對於公司工作滿意度提升，進而降低員工離職率並且會使財務績效提高。;In recent years, with the mass values change, the female consciousness gradually rise, Asian countries also gradually diversification, in promoting the directors and their gold will actively implement since 2019 to promote gender equality policy, and with the more and more women′s role as a leader, The issue of corporate social responsibility (CSR) has also been discussed. It is worth discussing whether more CSR will increase the financial performance of a firm.
The purpose of this study is to explore the relationship between female directors and CSR and whether CSR and financial performance affect financial performance through employee turnover rate. The proportion of female directors is used as the proxy variable of female directors. Take the employee part of the CSR report as the proxy variable; The employee turnover rate was used as the proxy variable of the employee turnover rate. Taking the return on assets (ROA), return on equity (ROE) and Tobin′s Q as proxy variables of financial performance, and taking the listed and listed electronics companies in Taiwan from 2014 to 2018 as the study samples, descriptive statistical analysis, Pearson correlation analysis, regression analysis and intermediary analysis were conducted. To test the relationship between the variables and to verify the hypothesis of this study.
The empirical results show that there is a positive and significant relationship between female directors and CSR, indicating that the more female directors there are, the more enterprises implement CSR. There is no significant correlation between CSR and ROA and Tobin′s Q, indicating that the implementation of CSR will not have any impact on ROA and Tobin′s Q. CSR has a negative and significant relationship with employee turnover rate, indicating that the more enterprises implement CSR, the lower the employee turnover rate will be. The employee turnover rate has a negative and significant relationship with the financial performance, which means that the higher the employee turnover rate is, the higher the company′s costs will increase and the lower the financial performance. The employee turnover rate has an intermediary effect between CSR and financial performance, indicating that when enterprises implement CSR more, employees′ job satisfaction with the company will increase, thus reducing the employee turnover rate and improving the financial performance. |
