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作者:呂冠宏
作者(英文):Guan-Hong Lu
論文名稱:主要客戶與投資效率之關聯性:論企業社會責任之角色
論文名稱(英文):The Relationship between Major Customers and Investment Efficiency: The Role of Corporate Social Responsibility
指導教授:陳家慧
指導教授(英文):Chia-Hui Chen
口試委員:李佳玲
張益誠
口試委員(英文):Chia-Ling Lee
I-Cheng Chang
學位類別:碩士
校院名稱:國立東華大學
系所名稱:會計與財務碩士學位學程
學號:610638007
出版年(民國):107
畢業學年度:106
語文別:中文
論文頁數:72
關鍵詞:供應鏈主要客戶投資效率企業社會責任
關鍵詞(英文):Supply chainMajor customersInvestment efficiencyCorporate social responsibility
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有鑑於上下游公司間開始建立起供應鏈關係,近年來有許多學者開始探討供應鏈的主要客戶對公司的影響,但大多在主要客戶與公司的營運績效或會計政策層面作探討,鮮少有研究提及公司主要客戶與公司投資效率間的關聯。有鑑於此,本研究以2005至2016年上市上櫃公司為樣本,並以客戶集中程度作為主要客戶的替代變數,探討公司主要客戶與公司投資效率的關聯性。實證結果發現,當客戶集中程度越高時,公司的投資無效率會越低,顯示主要客戶的監督能有效限制管理當局之行為,提升公司的投資效率。而本研究也進一步探討公司落實企業社會責任後,是否會對主要客戶與公司投資效率的關聯性產生影響;實證結果發現,當公司落實企業社會責任後,客戶集中程度越能降低公司的投資無效率,顯示主要客戶能從企業社會責任績效中取得資訊,增加其監督能力,使得公司的投資效率越佳。
Using a sample of the Securities Markets in Taiwan from 2005 to 2016, the study aims to investigate whether major customers affect a firm’s investment behavior. I use customer concentration as proxy for major customers and find that when a firm with major customers will be urged to make more optimal investment decisions. The result indicates that the supervision of major customers can effectively limit the managerial self-interested behavior and improve a firm’s investment efficiency. This study further investigates whether the company implementation of corporate social responsibility (CSR) will impact the relationship between major customers and investment efficiency. Empirical results document that the negative relationship between customer-base concentration and investment inefficiency is more pronounced for firms with higher CSR performance, indicating that major customers can obtain information from CSR activities, increase their supervision capabilities, and make the company's investment efficiency better.
第一章 緒論... 1
第一節 研究動機... 1
第二節 研究目的... 6
第三節 研究流程... 7
第二章 文獻回顧... 9
第一節 供應鏈... 9
第二節 主要客戶的影響力... 10
第三節 投資效率的決定因素... 13
第四節 企業社會責任... 19
第三章 假說發展與研究設計... 25
第一章 假說發展... 25
第二節 研究設計... 29
第三節 資料來源與樣本選取... 35
第四章 實證結果與分析... 41
第一節 敘述性統計... 41
第二節 相關係數分析... 43
第三節 實證結果... 46
第四節 額外測試... 53
第五章 研究結論與建議... 61
第一節 研究結論... 61
第二節 研究限制與未來研究建議... 62
參考文獻... 63
中文文獻
溫明燕,2016,企業生命週期與公司治理對投資效率之影響,輔仁大學會計學系
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