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完整後設資料紀錄
DC 欄位 | 值 | 語言 |
---|---|---|
dc.contributor.advisor | 李存修 | |
dc.contributor.author | Ku-Yun Hung | en |
dc.contributor.author | 洪顧紜 | zh_TW |
dc.date.accessioned | 2021-06-13T16:53:34Z | - |
dc.date.available | 2005-07-04 | |
dc.date.copyright | 2005-07-04 | |
dc.date.issued | 2005 | |
dc.date.submitted | 2005-06-16 | |
dc.identifier.citation | Reference
1. Agrawal, Anup and Charles R. Knoeber, 1996, “Firm Performance and Mechanisms to Control Agency Problems Between Managers and Shareholders,” Journal of Financial and Quantitative Analysis 31, 377. 2. Bhagat, S. and B. Black, 2002, “The Non-correlation Between Board Independence and Long-term Firm Performance,” Journal of Corporation Law 27, 2. 3. Claessens, S., S. Djankov, and L. H. P. Lang, 2000, “The Separation of Ownership and Control in East Asian Corporation,” Journal of Financial Economics 58, 81-112. 4. Cubbin, J. and D. Leech, 1986, “Growth Versus Profit-maximization: A Simultaneous-equations Approach to Testing the Marris Model,” Managerial and Decision Economics 7(2), 123-31. 5. Faccio, Mara and M. Ameziane Lasfer, 1999, “Managerial Ownership, Board Structure and Firm Value: The UK Evidence,” posted on http://papers.ssrn.com/abstract=179008 (Social Science Research Network). 6. Fama, E.f., and M.C. Jensen, 1983, “Separation of Ownership and Control,” Journal of Law and Economics 26(2), 301-325. 7. Fosberg, Richard H., 1989, “Outside Directors and Managerial Monitoring,” Akron Business and Economic Review 24. 8. Harris, M., and A. Raviv, 1991, “The Theory of Capital Structure,” The Journal of Finance, vol. 46, no. 1, 297-356. 9. Jessen and Meckling, 1976, “Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure,” Journal of Financial Economics, vol. 3, no. 4, 305-360. 10. Klein, April, 1998, “Firm Performance and Board Committee Structure,” Journal of Law & Economics 41, 275, 286-88. 11. La Porta, R., F. Lopez-de-Silanes, and A. Shleifer, 1999, ”Corporate Ownership Around the World,” Journal of Finance 54, 471-517. 12. Lawrence, Jeffery and G.P. Stapledon, 1999, “Is Board Composition Important? A Study of Listed Australian Companies,” posted on http://papers.ssrn.com/abstract=193528 (Social Science Research Network). 13. Mak, Y.T. and Yuan Li, 2001, “Determinants of Corporate Ownership and Board Structure: Evidence from Singapore,” Journal of Corporate Finance 7, 235. 14. Rosenstein, S., and J.G. Wyatt, 1990, “Outside Directors, Board Independence and Shareholder Wealth,” Journal of Financial Economics 26(2), 175-191. 15. Shleifer, Andrei, Randall Morck and Robert Vishny, 1986, “Management Ownership and Corporate Performance: An Empirical Analysis,” NBER Working Papers 2055, National Bureau of Economic Research, Inc. 16. Yeh, Yin Hua and Tsun-Siou Lee, 2004, “Corporate Governance and Financial Distress: Evidence from Taiwan,” Corporate Governance: An International Review, vol. 12, no. 3, 378-388. 17. Yermack, David, 1996, “Higher Market Valuation of Companies with a Small Board of Directors,” Journal of Financial Economics 40, 185. 18. 何幸芳,2003,「獨立董監事對公司價值與盈餘資訊內涵影響之研究」,輔仁大學金融研究所碩士論文 19. 呂春綢,2004 ,「我國獨立董監制度與公司績效關係研究」,國立台北大學會計學系碩士論文 20. 洪雲萍,2004,「獨立董事與公司治理:政府應該要求所有上市上櫃公司聘任獨立董事嗎?」,證券市場發展期刊第64期(Review of Securities & Futures Markets, 16:4,1-36) 21. 張雅琳,2004,「我國企業獨立董事機制與經營績效之關聯性研究」,大葉大學會計資訊學系碩士論文 22. 賴柏勳,2004,「我國上市公司強制性與自願性設立獨立董監事對經營績效影響之實證研究」,中國文化大學會計研究所碩士論文 23. 謝依霖,2004,「以賽局模型分析獨立董事於公司治理之實質效能」,台灣大學國際企業研究所碩士論文 24. 羅肇偉,2004,「公司治理、董事會獨立性與公司績效關係之研究-以電子業與營造業為例」,銘傳大學管理科學研究所碩士論文 | |
dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/38941 | - |
dc.description.abstract | Many commentators believe that the higher the percentage of independent directors and supervisors, the better the financial performance of firms. A competent authority in Taiwan requested that newly listed companies should hire independent directors and supervisors after February 22nd, 2002. However, the empirical results in this paper challenge the conventional point of view on this topic in the literature. And in addition, this study finds that the promulgation of the 2002 regulation has brought with it some negative effects.
First, the results of this study suggest that the percentage of independent directors and supervisors has a nonlinear relationship with firm performance. Second, the empirical findings of this study show that, affected by the new regulation, some bad companies that didn’t have to follow the new regulation will still voluntarily hire independent directors and supervisors in order to prevent investors from discovering their true quality. Finally, in this paper, we also find that the quality of the independent directors and supervisors is very important for firm performance and should be requested more completely and strictly to make sure that the monitoring mechanism of the firm really works. | en |
dc.description.provenance | Made available in DSpace on 2021-06-13T16:53:34Z (GMT). No. of bitstreams: 1 ntu-94-R92723007-1.pdf: 607024 bytes, checksum: c59c85128cb9eac7895bed48b642ef90 (MD5) Previous issue date: 2005 | en |
dc.description.tableofcontents | Contents
I.Introduction………………………………………………………p 1 II. Literature Review……………………………………….……p 3 A. Do Independent Directors and Supervisors Affect Firm Performance?.........................................p 3 B. Positive arguments and evidence………………………....p 4 C. Irrelevancy………………………………………………......p 5 D. Negative arguments and evidence…………………...…….p 5 E. Conditionally positive arguments and evidence………..p 6 F. Discovery………………………………………………………..p 7 III. HypothesesDevelopment………………………………………p 12 A. The relationship between the percentage of independent directors and supervisors and firm performance……...p 13 B. Impacts of New Regulation............................p 14 C. The relationship between the quality of independent directors and supervisors and firm performance.......p 15 IV. Samples and variables description...................p 17 A. Data collection......................................p 17 B. Performance measures.................................p 18 C. Measures of related variables of independent directors and Supervisors…………………………………………………p 18 D. Measures of other controlling variables............. p 19 E. Control right and cash flow right....................p 19 F. Descriptive statistics...............................p 20 V. Empirical results....................................p 22 A. Hypothesis 1.........................................p 22 B. Hypothesis 2~4.......................................p 25 (i) Hypothesis 2.....................................p 25 (ii) Hypothesis 3....................................p 29 (iii) Hypothesis 4...................................p 31 (iv) Other controlling variables.....................p 36 C. Hypothesis 5.1 and 5.2...............................p 39 (i) Hypothesis 5.1....................................p 39 (ii) Hypothesis 5.2...................................p 41 VI.Conclusions..........................................p 43 Reference...............................................p 45 | |
dc.language.iso | en | |
dc.title | 獨立董監事與公司績效關聯性之研究 | zh_TW |
dc.title | Do Independent Directors and Supervisors Help Firm's Financial Performance? | en |
dc.type | Thesis | |
dc.date.schoolyear | 93-2 | |
dc.description.degree | 碩士 | |
dc.contributor.oralexamcommittee | 邱顯比,葉銀華 | |
dc.subject.keyword | 獨立董監,公司績效, | zh_TW |
dc.subject.keyword | Indepedent directors and supervisors,Firm performance, | en |
dc.relation.page | 53 | |
dc.rights.note | 有償授權 | |
dc.date.accepted | 2005-06-17 | |
dc.contributor.author-college | 管理學院 | zh_TW |
dc.contributor.author-dept | 財務金融學研究所 | zh_TW |
顯示於系所單位: | 財務金融學系 |
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