根據金管會的新政策規定，在今年提出IPO申請的企業需要委任至少一名女性擔任該公司的董事，女性在企業中的參與隨著時間受到保障及到重視。在此浪潮下，本篇研究主旨為研究台灣上市公司中的董事會女性比例對該公司參與ESG活動及企業價值的影響，透過迴歸模型了解女性董事是否會藉由促使企業增加參與ESG活動而提升企業價值以了解女性董事在董事會中的角色及作用。研究結果顯示女性董事比例提升並無增加企業參與ESG活動，然而女性董事比例提升仍會增加該公司企業價值。

This study aims to understand the connection between percentage of female directors, ESG and firm value in Taiwan public traded firm. According to Financial Supervisory Commission, companies that are scheduled to initial public offering in 2024 are required to hire at least 1 female director in the board. Under this policy, there will be more and more female power in the board. This study comes up with running regression models that include the interaction term of ESG and female percentage to firm value and target to know whether female directors are taking steps by improving ESG score to enhance firm value. The result shows that there is a positive relationship between ESG score and a firm value. However, there might not be a positive effect on higher percentage female percentage to ESG score, but still higher female percentage leads to higher Tobin’s Q, poxy variable of the firm value.

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