| Summary: | 碩士 === 靜宜大學 === 財務金融學系 === 102 === This study examines the impacts of institutional ownership, institutional ownership stability, corporate governance and family control on corporate social responsibility (CSR) using a sample of the listed companies in Taiwan from 2006 to 2012. Based on the CSR fulfillment level, sample companies are divided into four categories. Using Multinomial Logit Model (MNLM), I try to explain the relationships among institutional investors, corporate governance, family-controlled firms and different types of CSR. Furthermore, I explore how institutional ownership and institutional ownership stability affect companies’ willingness to engage in CSR during the financial crisis. The empirical results show that institutional investors tend to invest in firms with corporate social responsibility award. Particularly, higher foreign institutional ownership and stability can play the monitoring role well. Therefore, foreign institutional investors prefer firms with corporate social responsibility award. On the other hand, family-controlled firms are less likely to engage in CSR than non-family-controlled firms.
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