年報及企業社會責任報告書為公司和投資者溝通之重要管道，文本內之量化數值與質化資訊隱含許多重要訊息，然而過往研究多專注於量化數值，近期方有研究開始投入質化資訊分析。至今已有不少國內外研究依據文本內詞彙特性將質化資訊進行分類並編撰為辭典或詞彙表，作為評估文本情緒及資訊披露程度的基礎。然而已建置之文字情緒與ESG詞彙表尚缺乏針對營建行業編撰之詞彙，因此若直接套用恐會造成誤判，繼而產生偏差結果。故本研究目的是以國內外已建置之詞彙表為基礎，就國內建材營造上市櫃企業的年報及企業社會責任報告書用字特質，擴充營建領域之情緒詞彙及ESG詞彙，並探究年報文字情緒及企業社會責任報告書ESG訊息披露量與當年企業財務績效的關係。
本研究使用字典基礎法(Dictionary-Based Method)擴增並整合營建領域情緒詞彙及ESG詞彙表後再量化文本中質化資訊。採用國內建材營造類上市櫃企業以2018至2020年共204筆公司年報及2016至2020年共92筆企業社會責任報告書為樣本，以內容分析法擴充營建領域之情緒詞彙及ESG詞彙並與國內外已建置之詞彙表整合。完成詞彙表擴充後，使用詞頻與逆向檔案頻率法(Term Frequency-Inverse Document Frequency)量化文本中質化資訊，並與當年企業財務績效進行多元迴歸分析。為增加研究結果準確性，將研究樣本增至2016至2020年共343筆公司年報及92筆企業社會責任報告書。結果顯示年報(致股東報告書)文字正面情緒與當年企業財務績效無顯著相關；年報(致股東報告書)負面文字情緒則與當年企業財務績效呈顯著負相關。而企業社會責任報告書(經營者的話)ESG資訊披露量和當年企業財務績效呈顯著負相關，其研究結果可投資者考慮投資標時的參考。而本研究所擴充適用於營建領域之詞彙表，可提供未來相關文獻以本詞彙表為基礎，進行文字資訊內涵相關研究。

Annual reports and corporate social responsibility reports serve as crucial communication channels for companies to express news and evidence to investors. Within these reports, both quantitative and qualitative information convey significant insight and performance. However, most prior research has focused on quantitative value, and the field of qualitative information analysis remains less explored. Recently, there has been a growing interest in investigating qualitative content. Numerous domestic and foreign studies have categorized qualitative information based on textual characteristics and then compiled it into dictionaries or glossaries, which become the foundation for text sentiment analysis. Yet, there is an absence of specialized vocabulary tailored to the construction industry for text sentiment and ESG (Environmental, Social, and Governance). This research aims to build construction-related glossaries upon existing vocabularies to discern the linguistic patterns and terms used in the published reports of the listed construction companies in Taiwan. Then, the relationship between text sentiment of annual reports, disclosure of ESG in corporate social responsibility reports, and the financial performance of the company is explored with multiple regression analysis. A total of 343 annual reports and 92 corporate social responsibility reports from 2016 to 2020 are used in the analysis.
The findings reveal that positive sentiment in the annual reports does not exhibit a significant correlation with the enterprise's financial performance. Conversely, negative sentiment does show a significant negative correlation with the enterprise's financial performance. Additionally, the extent of disclosed ESG information exhibits a significant negative correlation with financial performance.

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