| dc.description.abstract | In recent years, due to the dramatic climate change, the international corporations have been promoting the implementation of Corporate Social Responsibility (CSR) and Environment Social Governance (ESG) performance. There is a privilege of wining CSR indices certificated for corporations. However, it takes cost and it needs to input various resources, such as money and human resources, if corporations continually invest in CSR certification. Therefore, investors want to discuss that whether the corporations commit to CSR affects the corporate financial performance.
This study investigates the relationships between CSR, ESG and corporate financial performance. The data for this study are selected including the cement industry, iron and steel industry, and the financial holding industry. And, this study focus on the capital sizes above 5 billion New Taiwan Dollars companies from 2010 to 2020. This study examines the data with four financial performance models, and it also uses Return on Assets (ROA) and Return on Equity (ROE) as financial performance indices. Moreover, this study uses Ordinaty Least Squares(OLS) and Hausman test to exam the panel data and determine an appropriate model based on the Fixed-effects Model and Random-effects Model.
Firstly, this study finds out that there is a significant positive correlation between ESG indices and Return on Equity (ROE) including the cement industry and financial holding industry. Secondly, there is a significant positive correlation between ESG indices, ROA and ROE within other financial indicates. But, there is no significant correlation between ESG indices and ROA for financial holding industry. Lastly, there is a significant positive correlation between ESG indices and ROE within scale of a company indicate including cement industry. | en_US |