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研究生： 楊筑媛
Chu-Yuan Yang
論文名稱： 宗教對公司治理及投資的影響--以印尼上市公司為例
The effect of religion on corporate governance and investment: An empirical study of Indonesian listed firms
指導教授： 洪榮華
林翠蓉
口試委員:
學位類別： 碩士
Master
系所名稱： 管理學院 - 企業管理學系
Department of Business Administration
論文出版年： 2020
畢業學年度： 108
語文別： 中文
論文頁數： 54
中文關鍵詞： 資本支出 、投資效率 、公司績效 、伊斯蘭教法
外文關鍵詞： capital expenditure, investment efficiency, corporate performance, Shariah
相關次數： 點閱：14  下載：0 
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    • 印尼現為東南亞最大經濟體，也是目前全球擁有最多的穆斯林人口的伊斯蘭教國家，且伊斯蘭教影響其管理實務甚深。本研究主要從伊斯蘭的角度探討宗教規範對於公司治理機制產生何種影響，進而探討是否影響公司的投資支出、投資效率以及公司績效。以2012年至2017年印尼資本市場上市公司作為研究樣本，進行實證分析。資料來源為印尼證券交易所（IDX-Indonesia Stock Exchange）以及Eikon with Datastream for Office（原Datastream），2012年至 2017年之財務報表。研究結果顯示，遵循伊斯蘭教法的公司，其投資支出比率較低；在投資效率方面，結果顯示遵循伊斯蘭教法的公司透過減少過度投資來提升公司的投資效率；在公司績效方面，遵循伊斯蘭教法的公司，其績效較高。

    This study mainly discusses the effects of Islamic doctrine on corporate governance, and then investigates whether it affects the company's capital expenditure, investment efficiency and firm performance. The sample contains listed firms in Indonesia Stock Exchange from 2012 to 2017. The empirical results of the study show that companies following Islamic law (Sharia) have lower capital expenditure, and higher investment efficiency due to low over-investment, and better corporate performance.

    摘要 v Abstract vi 目錄 vii 表目錄 ix 第一章 緒論 1 1-1 研究動機與目的 1 1-2 研究流程 3 第二章 文獻探討與假說推論 4 2-1公司是否遵循伊斯蘭教法對投資支出及資金來源的影響 4 2-2公司是否遵循伊斯蘭教法對投資效率的影響 6 2-3公司治理對投資效率的影響 9 第三章 研究方法 11 3-1資料來源與樣本篩選 11 3-2研究方法與研究模型 11 3-2-1 研究方法 11 3-2-2 研究模型 11 3-3 變數定義 15 3-3-1 依變數（Dependent variable） 15 3-3-2 自變數（Independent variable） 15 3-3-3 控制變數（Control variable） 17 第四章 實證結果與分析 18 4-1 基本敘述性統計分析 18 4-2單變量統計分析 21 4-3迴歸分析 24 4-4 穩健性分析 31 第五章 結論與建議 37 5-1 研究結論與管理意涵 37 5-2 研究限制與建議 38 參考文獻 39

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