近年來企業社會責任及公司治理都備受關注，臺灣證券交易所為了提高企業的整體表現，於2015年6月29日首次發布社會責任型之「臺灣公司治理100指數」，藉由公布公司治理良好之企業，使投資人注入資金，並提高企業對公司治理的重視。因此本文以2015年至2018年之「臺灣公司治理100指數」成分股為樣本，首先以「事件研究法」來檢定臺灣證券交易所公布臺灣公司治理100指數成分股，此推薦訊息是否能帶來短期之正面市場影響，實證結果發現臺灣公司治理100指數成分股在發布日前後7天呈現顯著的超額報酬；其次再將臺灣公司治理100指數成分股分為一般產業及金控進行探討。
一般產業部分，依據Piotroski (2000)所提出之財務指標F-SCORE為架構建立新的投資組合，並使用夏普與崔納指數考量風險，探討高財務指標且公司治理良好之成分股能創造更佳的投資組合績效。實證結果顯示臺灣公司治理100指數篩選出的「前25%治理100成分股」其投資組合績效優於「後25%治理100成分股」及｢臺灣加權股價指數-剔除金融股｣。
金控部分則使用著名的金融業Z-SCORE指標並加入崔納指數衡量風險，結果顯示金控篩選出之新投資組合「前50%臺灣公司治理100指數成分股」投資組合績效均優於「金融保險類指數」，以上均可顯示經過財務指標所篩選之公司，確實能創造更佳之投資報酬率，受投資人青睞。

The results show that the announcements of the inclusion of the company in the Taiwan Corporate Governance 100 Index experiences significant short-term abnormal returns during the 7-day window before and after the date of announcement release.
For nonfinancial industries, a new investment portfolio was established based on the financial indicator F-SCORE proposed by Piotroski (2000). It shows if the company has a good financial score with good corporate governance, it will lead to a better performance in terms of Sharpe and Treynor ratios. In particular, the results indicate that the companies in the top 25% of the Taiwan Corporate Governance 100 Index perform better than the companies in the last 25%.
For financial industries, Z-SCORE indicator is used and examined by the Treynor index to measure the risk-adjusted returns. The results show that the new portfolio of the companies in the top 50% of Taiwan Corporate Governance 100 Index constituents perform better.

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