本文探討台灣上市櫃公司撰寫企業社會責任報告書以及撰寫形式是否會影響公司價值(Tobin’s Q)。透過蒐集全台上市櫃公司的企業社會責任報告書做為樣本，再利用測量軟體「Meazure」將報告書的核心，重大永續議題矩陣中所收錄的議題依照重要程度給予排序。其中，針對矩陣所收錄的議題來做分析，發現公司所收錄的議題有明顯產業差異或著重在近期產業發生的重大社會事件。不過，無論何種產業，其所收錄的議題主要都以公司營運方向為主，顯示出矩陣議題主要為偏向公司內部利害關係人所關注的議題居多。進一步，針對矩陣形態深入研究，結合報告書中所撰寫的基本概況，建立出測量報告書撰寫形式的自變數以供分析。 初步透過實證分析結果發現，平均而言有撰寫企業社會責任報告書的公司，其公司價值較高，約提升45.2%的公司價值。另外，本文發現主動揭露重大永續議題的排序與具有第三方機構認證的報告書，相對於沒有這些特徵的報告書，其公司價值較高，約分別提升70.3%與93.2%的公司價值。其餘撰寫形式似乎對公司價值沒有影響。;This paper analyses the relationship between having a corporate, social responsible (CSR) report as well as the construction of CSR report and firm value among the public trading firms in Taiwan. I collect all of the listed or OTC CSR reports in Taiwan as the data, utilizing the specialized software, Meazure, to sort out the sequence for the issues recorded in the materiality matrix. I found the patterns are different across industries or the patterns are related to the negative social event in the industry. However, no matter the industry, most of the material issues are more related to the firm business rather than the stakeholder interest. Combined with the research of materiality matrix and the fundamental situation of CSR report, I construct independent variables based on the characteristic of CSR report. Preliminary findings suggest that issuing a CSR report can enhance the firm value. On average, firms with CSR report have the firm value of 49.3% higher than others. In the characteristics of CSR Report, CSR report with provide the sequence of the material issues and CSR report with assurance by independent institution have the firm value of 70.3% and 93.2% higher than others, respectively. The other characteristics of CSR report, however, seems to not having significant impact on firm value.
