本文的研究目的在於探討第三方認證之企業社會責任之資訊內涵的改變時是否 對投資人的投資意願造成影響，以及分別探討有無第三方獨立認證機構所提供之 企業社會責任資訊認證對於投資人投資意願之影響。根據本研究之實證結果發現， 經第三方驗證之企業社會責任分數對於投資人意願具有顯著正向影響，但當企業 社會責任之資訊內涵改變時，不管有無經過第三方認證機構驗證對於投資人之投 資意願皆無顯著影響。並在將有無第三方驗證作為分組依據做分析時發現，有經 過第三方驗證機構認證之企業社會責任分數較高會使投資人投資意願升高，而當 未經過第三方驗證機構認證之企業社會責任分數較高反而會使投資人意願下降。 ;This study investigates whether changes in Corporate Social Responsibility (CSR) scores, certified by third-party organizations, influence investors′ willingness to invest. Based on the empirical findings of this study, I find that CSR scores verified by third- party assurance have a significant positive impact on investors′ intentions. However, whether certified by third-party organizations or not, the changes in CSR scores do not affect investors′ investment intentions. Furthermore, I find that higher CSR scores certified by third-party organizations increase investors′ willingness to invest, whereas higher CSR scores without third-party assurance decrease investors′ intentions to invest.
