本篇論文主要是探討CEO特質與薪資結構對於公司環境績效(eco-efficiency)的影響。企業社會責任(CSR)涵蓋的範疇十分廣泛，但近年環保議題及環保意識高漲，因此本文著重探討環境方面，並以eco-efficiency做為衡量指標。樣本由205家美國公司所組成，樣本期間為1992年到2012年，共1,835公司-年觀測樣本。本研究的主要發現為越年輕或女性的CEO對於公司的環境績效有顯著貢獻，另外在薪資結構方面，發現CEO與董事們薪資的薪酬差距與環境績效成反比，而股東權益薪資則是與環境績效成正比。本研究也發現2008年金融海嘯事件對於公司環境績效表現有顯著影響。本文所得的結果值得所有公司思考董事會成員的組成，尤其是女性管理者的任用拔擢方面，以及證實了公司在制定永續計畫時，與CEO薪酬做連結是為提升環境績效的可行方向。

This thesis examines how CEO’s characteristics and their compensation structure affect their firms’ eco-efficiency performance. Among the many scopes CSR involves, we only focus on the environmental scope and use eco-efficiency as a proxy variable of firms’ environmental performance. The sample consists of 205 U.S. firms during the period from 1992 to 2012, which accounts to 1,835 firm-year observations. We find that are that younger or female CEOs performance tend to show better eco-efficiency. Furthermore, the compensation disparity between CEOs and top executives has a significant negative relation with eco-efficiency, while CEOs’ equity-based compensation shows a significant positive effect on eco-efficiency. We also identify the global financial crisis did have influence on firm’s performance of eco-efficiency. The results of thesis might provide implications for firms on their board member structure and compensation scheme for their CEOs.

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