| 摘要: | 近年來，企業社會責任的理念成為國際間矚目的焦點，企業為達成永續發展，除賺取利潤之外，也必須落實企業社會責任，其中，關懷弱勢的議題亦成為媒體報導的主流對象，根據台灣衛生福利部統計處統計，我國身心障礙者人數逐年增加，而身心障礙者由於智能、肢體或是感官上的障礙，一直是失業人口大宗，在就業族群中最為弱勢，因此，我國政府為照顧弱勢團體，早於民國96年修正身心障礙員工之比例，並於98年開始實施，若企業進用未達法律規定比例，則須繳納差額補助費，此外，自2003年起，透過每年定期舉辦「金展獎」，表揚獲獎機構對協助身心障礙者就業的努力，但進用身心障礙員工除了每月固定薪資外，還需負擔其勞健保費用，更困難的是，在進用身心障礙員工時，人、地、事、物都要有相對應的配套措施，若企業要履行，勢必會是很可觀的支出，那既然各有利弊，對企業而言，究竟進用足額身心障礙員工對企業各方面來說，是否皆具有正面效益，為一值得探討之議題。
本論文旨在探討企業社會責任社會構面與財務績效、市場績效和企業價值之間的關聯性，以企業進用身心障礙人士不足額百分比作為企業社會責任社會構面之代理變數；並分別以資產報酬率及股東權益報酬率、Tobin′s Q與股價及股票報酬率作為企業財務績效、市場績效與企業價值之代理變數，此外，更進一步探討公司大小規模不同的情況下，企業進用身心障礙員工足額程度是否對其財務績效及市場績效有所差異。
根據實證結果顯示，企業進用身障人士不足額與財務績效和公司價值呈顯著反向關係，與假說相符，表示企業僱用身障人士不足額愈低，有益於提升公司資產報酬率、股東權益報酬率、股價以及股票報酬率；當企業碳排放量與公司價值、市場績效及財務績效呈顯著反向關係，代表碳排放量愈少，企業資產報酬率、股東權益報酬率、Tobin′s Q、股價及股票報酬率愈高；而女性擔任企業董事的比例與Tobin′s Q呈正向顯著，表示女性董事比例愈高，企業的投資機會與成長潛能也就愈大。;In recent years, the concept of corporate social responsibility is being paid much more attention internationally. In order to achieve sustainable development, corporate not only makes profits, but also implements corporate social responsibility. Among them, the issue of caring for vulnerable groups also become the mainstream of media objects. According to the statistics of the Ministry of Health and Welfare, the number of people with disabilities has increased year by year. Because of intelligence, physical or sensory obstacles, people with disabilities are not easy to find a job and are the most vulnerable among the employed population. Therefore, in order to take care of vulnerable groups, government revised the proportion of employees with disabilities in 2007 and implemented in 2009. If the corporate does not meet the legal requirements, it will pay the differential subsidy. Since 2003, the award-winning institutions have been commended for their efforts to assist people with disabilities through the annual "the Golden Wingspan Award". In addition to the fixed monthly salary, employees who employ people with disabilities are also required to pay for their labor and health insurance and supporting measures including people, places and things. If the corporate wants to perform, it will definitely be a considerable expenditure. It has its pluses and minuses, so it is a question worthy of discussion for corporate which have sufficient disabilities employees to have positive benefits for all aspects of corporate.
The purpose of paper is to explore the relationship between social dimension of corporate social responsibility and financial performance, market performance and corporate value. The percentage of the inadequacy of the number of people with disabilities in the corporate is taken as the proxy variable of the corporate responsibility social dimension; Return on assets and return on equity, Tobin′s Q, stock price and stock return as the proxy variables of corporate financial performance, market performance and corporate value respectively. In addition, we further discuss the different size scale of corporate. If the company employs enough disabled employees, it will lead to different financial performance and market performance.
According to the empirical results, the insufficiency of disabled employees in corporate has a significant inverse relationship with financial performance and corporate value. It is consistent with the hypothesis. It indicates that the lower the insufficiency of disabled employees in corporate, the better the return on assets, return on equity, stock price and return on stock. When the carbon emission of corporate has a significant inverse relationship with the corporate value, market performance and financial performance, it means that the lower the carbon emission, the higher the corporate′s return on assets, return on equity, Tobin′s Q, stock price and stock return. The proportion of female directors is positively correlated with Tobin′s Q. It indicates that the higher the proportion of female directors is, the greater the investment opportunity and growth potential of the corporate will be. |
