本研究以2016年至2021年我國上市上櫃公司為樣本，探討機構投資人對於永續報告書之確信機構有無偏好。目前永續報告書確信機構有採用ISAE3000的會計師事務所及採用AA1000的其他確信機構，兩者各有所長，預期機構投資人對於兩者其一會有所偏好。實證結果顯示，機構投資人偏好採用非會計師事務所確信之公司。本研究也近一步將機構投資人區分為國內投資人及外資進行探討，研究結果顯示，外資相較於國內機構投資人，更偏好採用會計師事務所確信之公司。

This study uses a sample of publicly listed companies in Taiwan from 2016 to 2021 to investigate whether institutional investors have a preference for the type of assurance providers for sustainability reports. Currently, sustainability report assurance is provided by accounting firms using ISAE3000 and other assurance providers using AA1000, each with its own strengths. It is expected that institutional investors will have a preference for one of these types of assurance providers.

The empirical results indicate that institutional investors prefer companies that have their sustainability reports assured by non-accounting firms. Given the high proportion of foreign ownership, this study further distinguishes between domestic and foreign institutional investors. It is expected that the preference of foreign investors for the type of assurance provider for sustainability reports will differ from that of domestic institutional investors. The results show that foreign investors, compared to domestic institutional investors, have a stronger preference for companies that have their sustainability reports assured by accounting firms.

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