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研究生：	白愷菈 Keshia Bailey
論文名稱：	The Geographic Influence Towards The CSR-Financial Performance Relationship: Transportation Industry The Geographic Influence Towards The CSR-Financial Performance Relationship: Transportation Industry
指導教授：	楊曉瑩 Yang, Ann Shawing
學位類別：	碩士 Master
系所名稱：	管理學院 - 國際經營管理研究所 Institute of International Management
論文出版年：	2021
畢業學年度：	109
語文別：	英文
論文頁數：	102
外文關鍵詞：	Geographic proximity, Corporate social responsibility, Firm performance, Transportation industry
相關次數：	點閱：187 下載：11
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ABSTRACT
Keywords: Geographic proximity, Corporate social responsibility, Firm performance, Transportation industry.
This study examines how different geographic proximities have an impact towards the relationship, CSR and firm performance. For numerous years, this relationship has been debatable amongst researchers. This paper explains how different geographic proximities, measured in kilometers, from various financial centers can enhance this relationship. As Stock exchanges are usually situated within a country’s CBD and as they have been moving towards CSR initiatives and encouraging these initiatives with their stakeholders, this paper uses them as our financial centers. It focuses on the Transportation Industry, as this industry plays a vital role within every economy, as it drives industrialization, urbanization and globalization. Even though it is an imperative industry, it is one of the largest industries to affect the environment negatively. This research uses panel data to analyze the CSR-FP relationship by comparing it with transportation companies that are closer to their financial centers, which is defined as their stock exchange, and transportation companies that are further away from their financial centers, that is their stock exchanges. The study is based on all Transportation firms that engage in CSR between the year 2008 and 2018. It finds that these companies that are closer to their financial centers have a stronger CSR-FP relation compared to those that are further away. The firms that are further away, have either no impact or a smaller impact than the firms that are closer to their financial centers. This relation is more pronounced when analyzing it separately between the Eastern and Western region.
II
Reason being different CSR initiatives impact firm performance differently within these two regions. That is, as Western and Eastern regions both view CSR differently, this effects the firm’s performance differently pertaining to CSR.

TABLE OF CONTENTS
ABSTRACT  I
ACKNOWLEDGEMENT  III
TABLE OF CONTENTS  IV
LIST OF TABLES   VII
CHAPTER ONE INTRODUCTION  1
1.1 Research Background. 1
1.1.1 The Importance of Corporate Social Responsibility. 4
1.1.2 The Importance of the Transportation 4
1.2 Research Objective and Motivation. 6
1.3 Research Gaps and Contributions. 8
1.4 Research Structure. 9
CHAPTER TWO LITERATURE REVIEW.  11
2.1 The Institutional Theory and Legitimacy Theory. 11
2.2 Geography and Corporate Outcomes. 12
2.3 Corporate Social Responsibility and Firm Performance in the Transportation Industry. 14
2.4 Geographic Proximity Impact with the Transportation Industry. 18
CHAPTER THREE RESEARCH DESIGN AND METHODOLOGY  24
3.1 Research Design and Sample 24
3.2 Data Measurements. 30
3.2.1 Dependent Variable. 30
3.2.2 Independent Variables  31
3.2.3 Control Variables  32
3.3 Research Methodology and Regression Model.  35
CHAPTER FOUR RESEARCH RESULTS   39
4.1 Descriptive Statistics.   39
4.2 Correlation Analysis.  50
4.3 Multicollinearity Test.  58
4.4 Empirical Results.   58
4.4.1 Regression Results for a Firm’s CSR Scores towards the Firm’s Tobin’s q within The Transportation Industry.   59
4.4.2 Regression Results for a Firm’s CSR Scores towards the Firm’s ROA within The Transportation Industry.  63
4.4.3 Regression Results for Transportation Firm’s Different CSR Scores towards their Tobin’s q within Different Geographic Proximities. .66
4.4.4 Regression Results for Transportation Firm’s Different CSR Scores towards their ROA within Different Geographic Proximities.  72
4.4.5 Regression Results for Eastern Transportation Firm’s Different CSR Scores Impact Towards their Firm Performance, Across Different Geographic Proximities.   77
4.4.6 Regression Results for Western Transportation Firm’s Different CSR Scores Towards their Firm Performance Across Different Geographic Proximities.   84
CHAPTER FIVE CONCLUSION AND SUGGESTIONS   91
5.1 Research Conclusions.   91
5.2 Research Limitations and Suggestions.   97
REFERENCES  99
LIST OF TABLES
Table 3-1 List of Transportation Firms ....................................................................... 26
Table 3-2 List of Eastern and Western Firms ............................................................. 29
Table 3-3 Summary of Variable Sources ..................................................................... 34
Table 4-1 Descriptive Statistics – All Transportation Firms ...................................... 43
Table 4-2 Descriptive Statistics – Closer Transportation Firms ................................ 44
Table 4-3 Descriptive Statistics – Further Transportation Firms............................... 45
Table 4-5 Descriptive Statistics – Eastern Region Further Firms .............................. 47
Table 4-6 Descriptive Statistics – Western Region Closer Firms ............................... 48
Table 4-7 Descriptive Statistics – Western Region Further Firms ............................. 49
Table 4-8 Correlation Matrix – Tobin’s q and Overall CSR Score ............................ 52
Table 4-9 Correlation Coefficient Matrix - ROA and Overall CSR Score .................. 53
Table 4-10 Correlation Matrix – Tobin’s q and Environmental CSR Score ............... 54
Table 4-11 Correlation Matrix – ROA and Environmental CSR Score ...................... 55
Table 4-12 Correlation Matrix - Tobin’s q and Social CSR Score ............................. 56
Table 4-13 Correlation Matrix - ROA and Social CSR Score..................................... 57
Table 4-14 Variance Inflation Factor Test Results ..................................................... 58
Table 4-15 Panel Regression Results – CSR and Tobin’s q Relation Amongst all Transportation Firms .............................................................................. 62
Table 4-16 Panel Regression Results – CSR and ROA Relation Amongst All Transportation Firms .............................................................................. 65
VIII
Table 4-17 Panel Regression Results – CSR and Tobin’s q Relation Amongst Closer Transportation Firms .............................................................................. 70
Table 4-18 Panel Regression Results – CSR and Tobin’s Q Relation Amongst Further Transportation Firms .............................................................................. 71
Table 4-19 Panel Regression Results – CSR and ROA Relation Amongst Closer Transportation Firms .............................................................................. 75
Table 4-20 Panel Regression Results – CSR and ROA Relation Amongst Further Transportation Firms .............................................................................. 76
Table 4-21 Panel Regression Results – CSR and Tobin’s Q Relation Amongst Closer Transportation Firms Within The Eastern Region .................................. 80
Table 4-22 Panel Regression Results – CSR and Tobin’s Q Relation Amongst Further Transportation Firms Within The Eastern Region .................................. 81
Table 4-23 Panel Regression Results – CSR and ROA Relation Amongst Closer Transportation Firms Within The Eastern Region .................................. 82
Table 4-24 Panel Regression Results – CSR and ROA Relation Amongst Further Transportation Firms Within The Eastern Region .................................. 83
Table 4-25 Panel Regression Results – CSR and Tobin’s Q Relation Amongst Closer Transportation Firms Within The Western Region ................................. 87
Table 4-26 Panel Regression Results – CSR and Tobin’s Q Relation Amongst Further Transportation Firms Within The Western Region ................................. 88
Table 4-27 Panel Regression Results – CSR and ROA Relation Amongst Closer Transportation Firms Within The Western Region ................................. 89
Table 4-28 Panel Regression Results – CSR and ROA Relation Amongst Further Transportation Firms Within The Western Region ................................. 90
Table 5-1 Hypothesis Concluding Results ................................................................... 95
                                    

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