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研究生: 曾業偉
Weryanto Zeng
論文名稱: Corporate Social Responsibility and Cash Holding in Pharmaceutical Industry
Corporate Social Responsibility and Cash Holding in Pharmaceutical 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: 130
外文關鍵詞: Cash holding, Pharmaceutical industry, Corporate social responsibilities, Panel data regression
相關次數: 點閱:243下載:0
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  • The worldwide pharmaceutical sector has a huge role to play. The pharmaceutical business finds, develops, manufactures, and markets new products in the setting of industrial issues such as intense rivalry and the change of technology. The pharmaceutical sector has suffered many environmental issues and criticisms despite its considerable impact and importance. This is why the CSR activities are pursued mostly by enterprises to decrease their influence on the environment. According to the findings, companies with greater levels of CSR keep more cash.

    TABLE OF CONTENTS ABSTRACT I TABLE OF CONTENTS II LIST OF TABLES IV 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 Cash Holding. 5 1.2 Research Objective and Motivation. 5 1.3 Research Gaps and Contributions. 6 1.4 Research Structure. 6 CHAPTER TWO LITERATURE REVIEW 8 2.1 Corporate Social Responsibility. 8 2.2 Corporate Social Responsibility in Pharmaceutical Industry. 9 2.3 Level of Cash Holding. 12 2.4 Relation between CSR and Cash Holdings. 13 2.5 Stakeholder Theory and CSR. 13 2.6 Agency Theory. 15 CHAPTER THREE RESEARCH DESIGN AND METHODOLOGY 17 3.1 Data Sources and Collection. 17 3.2 Data Measurement. 28 3.2.1 Dependent Variable. 28 3.2.2 Independent Variables. 28 3.2.3 Control Variables. 29 3.3 Methodology and Regression Model. 32 3.3.1 Theoretical Model. 32 3.3.2 Methodology. 34 CHAPTER FOUR RESEARCH RESULTS 36 4.1 Descriptive Statistics. 36 4.2 Correlation Matrix. 54 4.3 Multicollinearity Test. 98 4.4 Hausman Test. 102 4.5 Panel Data Regression Analysis. 102 4.5.1 Full Panel Regression Analysis. 102 4.5.2 High-Market Capitalization Firm. 106 4.5.3 Low-Market Capitalization Firm. 109 4.5.4 Biopharmaceutical Firm. 112 4.5.5 Biotechnology Firm. 115 4.5.5 High Asset Firm. 118 4.5.7 Low Asset Firm. 121 CHAPTER FIVE CONCLUSION AND SUGGESTIONS 124 5.1 Research Conclusion. 124 5.2 Research Contribution. 125 5.3 Research Limitation and Suggestion. 126 REFERENCES 127

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