本篇文章使用Mile and Snow (1978, 2003) 對公司戰略的理論架構來檢視公司企業戰略之不同 (攻擊者、分析者與防守者) 是否會影響其從事企業社會責任(Corporate Social Responsibility,簡稱 CSR) 活動之意願，以及其較願意從事何種類型之CSR，這項研究也幫助我們瞭解不同戰略之公司其從事CSR的目的是什麼，最終探討此些關聯對於企業財務績效面的影響。本文研究結果如下：第一，在從事CSR活動的意願研究上，攻擊者與防守者皆呈現負向之結果，而分析者結果則是正向。但就其CSR績效來看，攻擊者與另二者相比其績效表現較好，而攻擊者在創新CSR績效上表現亦是較為良好的，因此可以推測攻擊者較會去推動戰略性企業社會責任。第二，我們發現攻擊者在其總資產報酬率的表現上與另二種戰略相比是較差的，但其毛利率表現卻是較好的，表示其本業收益是較為優異的，而分析者與防守者在其營運與成本管理上則較具效率性。第三，公司從事企業社會活動雖會增加其成本，但此類結果也會反映在其財務績效上，結果是較為良好的。最後，我們也發現攻擊者雖然在其資產報酬率的表現是較差的，但是若其從事CSR，結果將會反轉。

This paper applies Mile and Snow (1978, 2003) theoretical business strategy to investigate whether the enterprise strategy (Prospector、Analyzer、Defender) will affect the company's willingness to engage in Corporate Social Responsibility (CSR) activities and what type of CSR it prefers to engage in. This study also helps us understand the intention of doing CSR in different enterprise strategies. Finally, we discuss how different enterprise strategies that engage in CSR affects the corporate financial performance. First, we find that Analyzers are more inclined to engage in CSR activities . In addition, Prospectors who invest in CSR have better CSR performance and better CSR innovation performance than others. Second, we find that prospectors’ performance in ROA is worse than the other two strategies, but its gross profit is better. This result represents that Prospectors are superior in their earning, while Analyzers and Defenders are more efficient in their operations and cost management. Third, although company that engages CSR activities will increases their cost, but this will increase their financial performance. Finally, we find Prospectors’ performance in ROA is poor, but they can improve the result by engaging in CSR activities.

第一章 前言 1
第一節 研究動機 1
第二節 研究架構與流程 5
第二章 文獻回顧 7
第一節 企業戰略對企業政策的影響 7
第二節 企業社會責任對企業財務績效影響 8
第三章 研究方法 11
第一節 資料來源及樣本選取 11
第二節 企業戰略之衡量 11
第三節 企業社會責任之衡量 12
第四節 控制變數之衡量 14
第五節 統計方法與研究模型 15
第四章 實證結果與分析 19
第一節 樣本分布 19
第二節 敘述統計與相關分析 20
第三節 企業戰略對於企業社會責任之影響 21
第四節 企業戰略和企業社會責任對於公司財務績效之影響 24
第五節 企業戰略與企業社會責任對於公司財務績效之影響 27
第五章 結論 29
參考文獻 31
表 一 變數定義 34
表 二 產業分布 36
表 三 敘述統計 37
表 四 敘述統計 39
表 五 相關性分析 40
表 六 企業戰略從事企業社會活動傾向 41
表 七 企業戰略對企業社會責任績效影響 42
表 八 企業戰略對公司財務績效影響 46
表 九 企業社會責任對於財務績效的影響 49
表 十 企業戰略與企業社會責任對公司財務績效影響 56
表 十一 企業戰略與企業社會責任對公司財務績效影響 60

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