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| Title: | 董事會多元性對碳排資訊之影響-以美國企業為例
The Impact of Board Diversity on Carbon Information: Empirical Evidence from the US Company |
| Authors: | 蔡皓暐
Tsai, Hao-Wei |
| Contributors: | 鄭士卿
楊曉文
Jeng, Vivian
Yang, Sharon S.
蔡皓暐
Tsai, Hao-Wei |
| Keywords: | 碳排放
碳排放
董事會多元性
女性董監事
種族多元性
學術董監事
Academic director
Carbon emission
Carbon intensity
Board diversity
Female director
Ethnic diversity |
| Date: | 2023 |
| Issue Date: | 2023-09-01 16:07:17 (UTC+8) |
| Abstract: | 全球二氧化碳排放量逐年上升，而高碳排的經濟活動將導致的全球暖化，對社會造成不可逆的氣候變遷風險。 另一方面，企業擁有者和經理人之間存在代理問題，而多元化的董事會將增加獨立性、專業性與提供更全面的經營策略。 然而多元化董事會是否能有效減少企業之碳排放、碳密度及是否改善隔年度碳績效為本研究欲探討之議題。
本研究使用2018年至2021年MSCI所收錄擁有碳績效之美國上市企業，探討當董監事具有女性、學術背景與種族多元性等三項因素時，對企業碳績效數值與碳績效是否改善的影響，且後續再進一步將企業區分為高碳產業及低碳產業，探討董事會多元性對高低碳產業的影響。
本研究在碳績效數值中採用線性迴歸模型，以及在碳績效是否改善中採用羅吉斯迴歸模型，且避免研究結果產生內生性問題，進行二階段最小平方法(Two-Stage Least Squares, 2SLS)，同時控制年度及產業效應。研究結果顯示，學術董監事比例越高時，將提升隔年度碳排放與碳密度改善的機率，表示學術董監事相較於其他董監事具有較高的獨立性、專業知識及道德標準，能更有效監督環境績效。另外，女性董監事比例越高、種族越多元時，公司的碳排放、碳密度將顯著下降，此效果在高碳產業更加顯著，表示女性董監事有效地的進行碳排放監督、專注於社會的環境議題。綜上所述，若董事會中擁有女性董監事、學術董監事與不同種族之董監事，能夠替企業提供新穎的減碳方法、更有效地進行環境監督，進而減少企業之碳排放、碳密度，及提升隔年度改善碳績效之機率。
Global carbon emissions are increasing every year, and the high carbon emissions from economic activities are causing irreversible climate change risks. In addition, board diversity has been important to corporate decisions and helps to boost independence and expertise of the directors. Whether board diversity can effectively reduce carbon emission and intensity, and improve carbon performance in the following years are the topics under investigation in this study.
We use US-listed firms with carbon performance in the MSCI from 2018 to 2021 to investigate the impact of board diversity in three aspects: gender diversity, academic background, and ethnic diversity. We use generalized linear regression and logistic regression models and further categorize our sample into high-carbon and low-carbon industries. After considering the endogeneity problem, we find that a higher proportion of female directors, as well as greater ethnic diversity, are associated with reduced carbon emissions and carbon intensity, and the effect is more statistically significant in high-carbon industries. Furthermore, a higher proportion of academic directors demonstrate effectiveness in improving a company`s carbon performance. In conclusion, having female board members, those with academic backgrounds, and ethnically diverse board members leads to lower carbon emissions and intensity, and improves carbon information in the next years. |
| Reference: | 湯念璇 (2022)。學術型獨立董監事對企業揭露 SASB 準則及 TCFD 氣候揭露原則之影響。國立政治大學風險管理與保險學系碩士學位論文。
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| Description: | 碩士
國立政治大學
風險管理與保險學系
110358022 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0110358022 |
| Data Type: | thesis |
| Appears in Collections: | [風險管理與保險學系] 學位論文
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