本文研究使用台灣證券交易所公司治理中心 (Taiwan Stock Exchange Corporate Governance Center, 公司治理中心) 彙整之上市櫃企業男性及女性董事席次之數據，搭配公開資訊觀測站 (Market Observation Post System, MOPS) 針對各家企業之基本資訊，包含資本額、員工人數以及產業類別等，以及由投資人關係整合平台 (ESG Investor Relations Platform, ESG IR Platform) 收集國際 ESG 評分機構對於台灣企業 ESG 執行之客觀分數，將上述資料串連成一獨特資料庫，以實證角度評估女性在企業之中如何影響ESG的表現。
本文主要實證結果顯示，總經理若為女性，對於企業 ESG 成果具有正向且顯著影響；女性董事對於企業 ESG 表現呈現負相關；董事長性別與企業 ESG 分數則不具顯著影響，此結果顯示女性在總經理之角色，對於企業永續發展有重大之貢獻。值得關注的是，董事會規模對 ESG 成果為高度正相關，董事會規模愈大，監督力量愈大，進而做出對企業有益之決策。
針對企業基本資訊解釋變數當中，企業創立年限與 ESG 為負向效果；資本額、員工人數及每股盈餘則對 ESG 成果具正向顯著效果。而近一步觀察產業別之迴歸結果，發現資通訊、製造及航運等產業在 ESG 之表現皆具有顯著正向效果。
最後，本文建議企業在組成高階經營團隊之考量上，除個人專業背景外，應考量男女性別之配比，避免因比例失衡而削弱女性可帶來之正向影響；而政府應從教育著手，改變人們心中對該領域之刻板印象，從而提升男女比例之平衡。

This study compiled data from the Taiwan Stock Exchange Corporate Governance Center, and the Market Observation Post System (MOPS) as well as the ESG Investor Relations Platform to analyze the gender diversity of board members in listed companies and their impact on corporates’ ESG performance.
The findings reveal that having a female general manager positively influences ESG performance, while female directors have a negative effect. The gender of the chairman does not significantly affect ESG scores. Board size is positively correlated with ESG outcomes, indicating that larger board size with better oversight, which contribute to beneficial decisions.
The variables regarding corporates’ background information shows that the age of the company has a negative effect on ESG performance. Other factors such as capital, number of employees, and earnings per share have a positive and significant effect on ESG results. The information and communication technology, manufacturing, and air transportation industries show significant positive effects on ESG performance.
In conclusion, the study suggests considering gender balance in top management teams to enhance sustainability. Moreover, the government should start from the education stage to address people’s stereotypical perceptions and promote gender equality across industries.

伊慶春、簡文吟 (2001): “已婚婦女的持續就業: 家庭制度與勞動市場的妥協,” 《台灣社會學》, 1, 149-182。
林佳賢 (2022): “ESG表現與性別議題於公司治理決策,” 政治大學財務管理學系博士論文。
柯亦鴻 (2022): “SASB準則下ESG揭露程度之影響因素,” 國立政治大學會計學系碩士論文。
胡寬程 (2021): “企業永續性報告是否反映企業之永續表現？針對美國與香港之實證研究,” 臺灣大學土木工程學研究所碩士論文。
陳映潔 (2022): “ESG 指標與企業績效之相關性研究,” 國立中正大學會計與資訊科技研究所碩士論文。
羅新興、林靜如 (2007): “領導者和追隨者的性別組成與追隨者服從意願之關係,” 《東吳經濟商學學報》, 59, 101-117。
Abdi. Y., X. Li, and X. Càmara-Turull (2020): “Impact of Sustainability on Firm Value and Financial Performance in the Air Transport Industry,” Sustainability, 12(23), 9957.
Banno, M., E. Filippi, and S. Trento (2021): “Women in Top Echelon Positions and Their Effects on Sustainability: A Review, Synthesis and Future Research Agenda,” Journal of Management and Governance, 27, 181-251.
Bowen, H. R. (1953): “Social Responsibilities of the Businessman,” New York, University of Iowa Press.
Chen, H., T. Kuo, and J. Chen (2022): “Impact on the ESG and Financial Performances of Companies in the Manufacturing Industry Based on the Climate Change Related Risks,” Journal of Cleaner Production, 380, part 1.
Chiaramonte, L., A. Dreassi, A. Paltrinieri, and S. Piserà (2020): “Sustainability Practices and Stability in the Insurance Industry,” Sustainability, 12(14), 5530.
Crespi, F., and M. Migliavacca (2020): “The Determinants of ESG Rating in the Financial Industry: The Same Old Story of a Different Table?” Sustainability, 12(16), 6398.
Deloitte: “Progress at a Snail’s Pace (Women in the Boardroom: A Global Perspective),” https://www2.deloitte.com/content/dam/Deloitte/ar/Documents/risk/2022/arg-2022-Women-in-the-boardroom.pdf
Dixon, S., K. Dolan, V. Hunt, and S. Prince (2020): “Diversity Wins, How Inclusion Matters,” https://www.mckinsey.com/featured-insights/diversity-and-inclusion/diversity-wins-how-inclusion-matters
Elkington, J. (1997): “Cannibals with Forks: Triple Bottom Line of 21st Century Business,” Oxford, Capstone.
Funk, K. D., and A. Q. Phillips (2019): “Representative Budgeting: Women Mayors and the Composition of Spending in Local Governments,” Political Research Quaterly, 72(1), 19-33.
Perkins, S., and K. W. Phillips (2019): “Research: Are the Women Better at Leading Diverse Countries Than Men?” Harvard Business Review.
Rao, P., and D. Holt (2005): “Do Green Supply Chains Lead to Competitiveness and Economic Performance?” International Journal of Operations & Production Management, 25(9), 898-916.
Romano, M., A. Cirillo, C. Favino, and A. Netti (2020): “ESG (Environmental, Social and Governance) Performance and Board Gender Diversity: The Moderating Role of CEO Duality,” Sustainability, 12(21), 9298.
Sheldon, O. (1923): “The Philosophy of Management,” London and New York, Routledge.
Velte, P. (2016): “Women on Management Board and ESG Performance,” Journal of Global Responsibility, 7(1), 98-109.
Wu, Q., F. Furuoka, and S. Lau (2021): “Corporate Social Responsibility and Board Gender Diversity: A Meta-Analysis,” Management Research Review, 45(7), 956-983.
Xiao, C., and A. M. McCright (2012): “Explaining Gender Differences in Concern about Environmental Problems in the United States,” Society and Natural Resources, 25(11), 1-18.
Xie, J., W. Nozawa, M. Yagi, H. Fujii, and S. Managi (2017): “Do Environmental, Social, and Governance Activities Improve Corporate Financial Performance?” Business Strategy and Environment, 28(2), 286-300.