本文利用多元迴歸模型，探討企業社會責任績效與機構投資人持股之關係，將KLD資料庫上之企業社會責任績效進一步折解成重大性企業社會責任績效(公司所屬產業重大永績議題有關的社會企業責任績效)與非重大企業社會責任績效(公司所屬產業非重大永績議題有關的社會企業責任績效)，探究重大性及非重大性企業社會責任績效與機構投資人股權的關聯性。實證結果顯示，當該企業社會責任績效為所屬產業的重大永續議題時，對於機構投資人持股的影響，高於非重大永續議題之影響。

This paper mainly discusses the relationship between corporate social responsibility performance and institutional investors' shareholding using a multiple regression model. Further, it explains the performance of corporate social responsibility in the KLD database, and explores the social responsibility performance of a company: The Relevance of Equity of Institutional Investor. The empirical results show that when corporate social responsibility performance is a major sustainable issue of the industry, the impact on the holdings of institutional investors is higher than that of non-major sustainable issues. Enterprises, in the case of limited resources, should be invested in major sustainable issues related to corporate social responsibility, and the number of institutional investors in the number of shares will have the greatest impact.

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