國際社會企業公民的觀念日漸成熟，而我國政府近年來亦透過強制性規範及鼓勵企業參加公司治理評量兩大政策，使企業社會責任(Corporate Social Responsibility，簡稱CSR）融入到企業實際營運中。若企業願意投入CSR，除了可對企業的利害關係人創造更多的價值，更可促進企業本身與社會能永續經營成長。本研究旨在探討台灣上市電子產業獲得企業社會責任獎項是否會產生股價的異常報酬，因此以天下雜誌CSR獲獎的台灣上市電子成份股，建立CSR投資組合報酬率(電子股CSR)與市場大盤加權指數報酬率(市場指數)來比較檢測其股價表現；並檢測台灣上市非電子非金融股CSR投資組合報酬率(非電金CSR)是否也有類似的表現。
研究結果顯示，從2007年到2017年得知電子CSR的累計月報酬率明顯高於市場指數，這樣的差異透過四因子模型(Fama-French-Carhart)進行分析探討，結果電子CSR投組有顯著正向的異常報酬績效表現；而另一個非電金CSR投組也有同樣的結果。

This paper focuses on examining the effect of winning a CSR award on the abnormal returns of stocks in the electronics and non-electronics sectors in the Taiwan Stock Market. The analysis showed that the cumulative monthly returns of stocks in the electronics sectors in the Taiwan Stock Market are higher than Taiwan Stock Index from 2007 to 2017. The difference we analize from the four-factor model shows the CSR portfolio of the electronics sectors in the Taiwan Stock Market and generated statistially significant positive abnormal returns; and it is also the same results on the CSR portfolio of non-electronics sectors in the Taiwan Stock Market.

中文部分：
社企流平台網站。民國106年6月1日。取自：http://www.seinsights.asia/
CSR天下企業公民網站。民國106年6月1日。取自： http://topic.cw.com.tw/csr/
林丙輝、董澍琦、楊聲勇、王國雄。企業倫理(二版)。台北市：新陸書局。(2017)

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