The Event Study of Mandatory Disclosure of CorporateSocial Responsibility Report in Taiwan
碩士 === 國立臺灣大學 === 會計學研究所 === 104 === The objective of this research is to investigate the market reaction of mandatory disclosure of Corporate Social Responsibility (CSR) Report in Taiwan and whether specific industrial and corporate determinant can respond coefficient of the stock price on event da...
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ndltd-TW-104NTU053850292017-04-29T04:31:55Z http://ndltd.ncl.edu.tw/handle/69597361701644891498 The Event Study of Mandatory Disclosure of CorporateSocial Responsibility Report in Taiwan 台灣強制編製企業社會責任報告書之事件研究 Szu-Chi Tseng 曾思齊 碩士 國立臺灣大學 會計學研究所 104 The objective of this research is to investigate the market reaction of mandatory disclosure of Corporate Social Responsibility (CSR) Report in Taiwan and whether specific industrial and corporate determinant can respond coefficient of the stock price on event days. This study is the first domestic research aimed to focus specifically on mandatory disclosure of CSR Report. This research lists out five event days first and then examines the annual reports identified from the Market Observation Post System for listed and OTC companies in Taiwan, from 2014 to 2015. The empirical results show that investors reacted negatively when the information of mandatory disclosure of CSR Report was announced, which implicit that market investors were worried about the increase of limitation and cost on the nonfinancial information disclosure and concerned about more negative news would be disclosed after the regulation of mandatory disclosure of CSR Report. However, the results do not support the hypothesis on one of the events. Moreover, further test indicates that for those firms directly affected by the regulation investor also reacted negatively on that specific event, which contribute to enhancing the association between the determinants and cumulative abnormal return on the event days of mandatory disclosure of CSR Report. 劉啟群 尤琳蕙 2016 學位論文 ; thesis 64 zh-TW |
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碩士 === 國立臺灣大學 === 會計學研究所 === 104 === The objective of this research is to investigate the market reaction of mandatory disclosure of Corporate Social Responsibility (CSR) Report in Taiwan and whether specific industrial and corporate determinant can respond coefficient of the stock price on event days. This study is the first domestic research aimed to focus specifically on mandatory disclosure of CSR Report. This research lists out five event days first and then examines the annual reports identified from the Market Observation Post System for listed and OTC companies in Taiwan, from 2014 to 2015. The empirical results show that investors reacted negatively when the information of mandatory disclosure of CSR Report was announced, which implicit that market investors were worried about the increase of limitation and cost on the nonfinancial information disclosure and concerned about more negative news would be disclosed after the regulation of mandatory disclosure of CSR Report. However, the results do not support the hypothesis on one of the events. Moreover, further test indicates that for those firms directly affected by the regulation investor also reacted negatively on that specific event, which contribute to enhancing the association between the determinants and cumulative abnormal return on the event days of mandatory disclosure of CSR Report.
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author2 |
劉啟群 |
author_facet |
劉啟群 Szu-Chi Tseng 曾思齊 |
author |
Szu-Chi Tseng 曾思齊 |
spellingShingle |
Szu-Chi Tseng 曾思齊 The Event Study of Mandatory Disclosure of CorporateSocial Responsibility Report in Taiwan |
author_sort |
Szu-Chi Tseng |
title |
The Event Study of Mandatory Disclosure of CorporateSocial Responsibility Report in Taiwan |
title_short |
The Event Study of Mandatory Disclosure of CorporateSocial Responsibility Report in Taiwan |
title_full |
The Event Study of Mandatory Disclosure of CorporateSocial Responsibility Report in Taiwan |
title_fullStr |
The Event Study of Mandatory Disclosure of CorporateSocial Responsibility Report in Taiwan |
title_full_unstemmed |
The Event Study of Mandatory Disclosure of CorporateSocial Responsibility Report in Taiwan |
title_sort |
event study of mandatory disclosure of corporatesocial responsibility report in taiwan |
publishDate |
2016 |
url |
http://ndltd.ncl.edu.tw/handle/69597361701644891498 |
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