dc.description.abstract | In recent years, the company′s corporate social responsibility has become one of the items that investors pay attention to. The CSR report issued by the company will also affect the investment plan made by the investor, but the quality of the CSR report issued by the company is not the same. GRI′s normative compilation still has a high degree of discretion in the writing of content. Therefore, the purpose of this study is to explore whether the company can issue a high-quality CSR report through the supervision of external directors and institutional investors.
This research collects and analyzes the CSR reports released by Taiwan listed companies from 2006 to 2020. The number of outside directors and the shareholding ratio of institutional investors are used as independent variables. Readability, forward-looking, comprehensive, verifiable, tone. Five indicators are revealed to measure the quality of CSR reporting. The relationship between them was measured by regression analysis. The empirical results show that under the condition of voluntary disclosure, outside directors can improve the forward-looking, comprehensive and verifiable of the CSR report, but it will have the opposite effect on readability. There is a significant impact, possibly because the incentive effect of outside directors is not strong when the disclosure is mandatory. As for institutional investors unable to make the company issue a high-quality CSR report, and even the disclosure of comprehensive and tone in the CSR report has a negative impact, it may be that institutional investors are short-term investors and therefore pay less attention to the company′s CSR report quality. | en_US |