本研究之目的在探討董事會多樣性、企業社會責任與財務績效之影響，並探討企業社會責任是否會調節董事會多樣性與財務績效間之關係。本研究係以2009年至2011年之美國S&P 500指數之企業為對象，使用多元迴歸方式檢驗假說及董事會多樣性與社會責任之交互作用對財務績效之調節效果。研究資料來自Mergent online資料庫及公司年報（董事會多樣性）、KLD資料庫（社會績效資料），與Compustat資料庫（財務績效資料）。實證結果顯示董事會多樣性與財務績效未有顯著關係。企業社會責任對財務績效呈顯著的正向關係。另外，也發現企業社會責任對董事會多樣性與財務績效間之關係具有顯著正向的調節效果，尤其是當企業社會責任表現愈好時，董事會多樣性對財務績效的提升有幫助。本研究之主要貢獻除補足有關董事會多樣性、企業社會責任與財務績效之管理文獻缺口外，並能建議企業能夠落實企業社會責任的實踐。 This paper is to investigate the relationships among board diversity, corporate social responsibility and financial performance, and investigate whether corporate social responsibility will moderate the relationship between board diversity and financial performance. In this paper, the S&P 500 firms in U.S. as the research project, the research period is for the year 2009 to 2011, using multiple regression analysis to test hypotheses and moderate effect. Research data from Mergent online databases and Annual Report (Board diversity), KLD database (social performance data), and Compustat database (financial performance information). Empirical results indicate that board diversity has no significant effect on financial performance. And corporate social responsibility has a positive significant effect on financial performance. In addition, this paper find a significant relationship between board diversity and financial performance. This relationship is moderated by corporate social responsibility. The contribution of this paper, expect to make up the gap of management themes about corporate social performance, board diversity and financial performance. And expect to give companies more better practices suggestions.
