本研究旨在探討臺灣上市與上櫃公司於 2014 年至 2021 年間，在重要性矩陣中揭露的勞動相關議題，與其實際勞動福祉表現之間的關聯。所使用的勞動福祉指標包括員工流動率、離職人數、薪資差距、育嬰留職停薪後的復職率，以及職業傷害之發生情形。回歸分析結 果顯示，無論是前一年度的勞資爭議紀錄，或重大性矩陣中整體揭露的勞動議題，皆與企業勞動福祉表現無顯著直接關聯。然而，當深入分析重大性矩陣中各區位時，則可觀察到值得注意的模式。在揭露與否的層面上，利害關係人區所揭露之勞動相關議題與較高的育嬰復職率顯著相關，顯示其可能具正面影響；相對地，揭露於重大性區則與較高的員工流動率與離職人數相關，顯示企業所宣稱之重點議題與實際實踐間可能存在落差。在揭露數量的層面上，重大性區揭露議題愈多，同樣與離職人數增加顯著相關。針對特定勞動議題（ GRI 401–409），其與企業勞動福祉表現之關聯則依議題內容與所處位置而異。整體而言，企業於重大性矩陣中揭露勞動相關議題的位置與頻率，對勞動福祉具指標意涵。永續性報告所揭露之內容未必能真實反映企業實際之勞動條件，反而可能成為呈現組織勞動福祉狀況的正向或警示性訊號。;This study explores the relationship between labor-related topic disclosures in the Materiality Matrix (2014–2021) of listed and OTC companies in Taiwan and their actual performance on labor welfare indicators, including turnover rate, number of resignations, pay gap, return-to-work rate after parental leave, and the occurrence of occupational injuries. While regression analyses reveal no significant direct link between prior-year labor disputes or the general presence of labor-related topics in the Materiality Matrix diagram and firms’ labor welfare performance, notable patterns emerge when examining specific disclosure areas within the matrix. From a presence-based perspective, the disclosure of general labor-related topics in the Stakeholder area is significantly associated with higher return-to-work rate after parental leave, suggesting a positive relationship. In contrast, disclosures in the Importance area are associated with increased employee turnover rate and number of resignations, indicating a possible gap between stated priorities and actual practices. Quantity-based findings show that a higher number of disclosures in the Importance area are also associated with increased resignations. For specific labor-related topics (GRI 401–409), results vary by topic and placement. These findings suggest that both the positioning and frequency of labor-related disclosures within the Materiality Matrix carry meaningful implications. Sustainability reporting may not always reflect actual labor conditions and may instead serve as signals—either positive or concerning—regarding an organization’s workforce welfare.
