企業財報重編對同業及供應鏈影響：以企業社會責任為例;The Impact of Financial Restatement on Industry Rivals and Supply Chain Partners: Evidence from Corporate Social Responsibility

NCUIR > School of Management at National Central University > Department of Finance > Research Project > Item 987654321/79208

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Title:	企業財報重編對同業及供應鏈影響：以企業社會責任為例;The Impact of Financial Restatement on Industry Rivals and Supply Chain Partners: Evidence from Corporate Social Responsibility
Authors:	何柏欣
Contributors:	國立中央大學財務金融學系
Keywords:	企業社會責任;傳染效果;競爭效果;產業競爭;供應練;Corporate social responsibility;Contagion effect;Competition effect;Industry competition;Supply chain
Date:	2019-02-21
Issue Date:	2019-02-21 15:02:58 (UTC+8)
Publisher:	科技部
Abstract:	本計畫為兩年期研究計畫，內容主要探討企業社會責任在財報編制不實公司對產業及供應練所扮演的角色為何。第一年探討當產業內有公司發生財報編制不實時，競爭對手的企業社會責任績效可能會影響同業的財富效果，本研究認為對同業公司來說，財富效果平均而言為正，但是如果同業公司企業社會責任績效較差，可能會讓投資人認為該同業公司不是那麼值得信賴，因此財富效果會顯著低於同業公司中企業社會責任績效較佳的公司，本研究也同時針對企業社會責任績效變動、財報重編宣告效果以及產業競爭程度探討對同業公司財富效果的影響。第二年則探討當公司發生財報編制不實時，對上游供應商及下游顧客產生的財富效果，以及企業社會責任對財務效果的影響。本研究認為，對上游供應商來說，顧客因財報編制不實可能導致營收下降進而影響自身營收；對下游顧客來說，使用財報編制不實公司原料可能需要承擔換供應商的成本以及來自消費者的抵制效應，不論對上游供應商或下游顧客，財富效果平均而言為負。若供應商的企業社會責任績效較佳，則較容易尋找新的顧客，因此對供應商衝擊較小，對下游顧客而言，若下游顧客的企業社會責任績效較佳，投資人容易恢復對該公司的信任，因此對顧客衝擊較小，本研究也同時針對企業社會責任績效變動、財報重編宣告效果以及產業競爭程度探討對供應練公司財富效果的影響。 ;This study is a two-year research project and investigates the role of corporate social responsibility (CSR) played in industry and supply chain. We use the event of financial misconduct to examine the effect of CSR on the wealth effect of industry rival firms and supply chain partners. The first year of this project aims to examine the impact of CSR on industry rival firms. When a firm is detected by misconducting its financial report, its industry rivals would benefit from this negative event. However, we suggest this beneficial effect would be mitigated if the rival firms are socially irresponsible because investors expect these rival firms are not reliable and afraid to be cheated again. We further examine the effect of event characteristics and the degree of industry competition on inference. The second of this project aims to examine the impact of CSR on supply chain partners. When a firm is detected by misconducting its financial report, its suppliers and customers would suffer from this negative event. Because the order from the event firm would decrease, the sales of its suppliers would reduce. The customers of the event also suffer from this event since investors would resist buying stocks or products produced from using the material ordered from the financial misconduct firm. However, we suggest this negative effect would be mitigated if the suppliers and customers are more socially responsible because suppliers are more likely to find new customers, and the customers are more likely to restore trust from investors. We further examine the effect of event characteristics and the degree of industry competition on this inference.
Relation:	財團法人國家實驗研究院科技政策研究與資訊中心
Appears in Collections:	[Department of Finance] Research Project

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