請用此 Handle URI 來引用此文件:
http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/5335
完整後設資料紀錄
DC 欄位 | 值 | 語言 |
---|---|---|
dc.contributor.advisor | 廖咸興 | |
dc.contributor.author | Hong-Fei Huang | en |
dc.contributor.author | 黃鴻飛 | zh_TW |
dc.date.accessioned | 2021-05-15T17:56:13Z | - |
dc.date.available | 2014-07-15 | |
dc.date.available | 2021-05-15T17:56:13Z | - |
dc.date.copyright | 2014-07-15 | |
dc.date.issued | 2014 | |
dc.date.submitted | 2014-07-02 | |
dc.identifier.citation | Baliga, B., Moyer, R.C, Rao, R.S., 1996, “CEO Duality and Firm Performance:What’s the Fuss?” Strategic Management, Journal 17, 41-53.
Banker, R., Charnes, A., Cooper, W. 1984, “Some models for estimating technical and scale in efficiencies in data envelopment analysis”, Management Science 30(9), 1078–1092. Baysinger, B.D., Kosnik, R.D., Turk, T.A., 1991, “Effects of Boards and Ownership Structure on Corporate R&D Strategy”, Academy of Management, Journal 34, 205-214. Bebchuk, L., Cohen, A., Ferrell, A., 2009, “What Matters in Corporate Governance”, Review of Financial Studies 22, 783-827. Berger, P.G., Ofek, E., Yermack, D.L., 1997, “Managerial Entrenchment and Capital Structure Decisions”, Journal of Finance 52, 1411-1438. Billett, M.T., Qianb, Y., 2008, “Are overconfident managers born or made? Evidence of self-attribution bias from frequent acquirers”, Management Science 54(6), 1037–1051. Black, B.S., Jang, H., Kim, W., 2006, “Predicting Firm’s Corporate Governance Choices:Evidence from Korea”, Journal of Corporate Finance 12, 660-691. Charnes, A., Cooper, W., Rhodes, E., 1978, “Measuring efficiency of decision making units”, European Journal of Operational Research 2(6), 429–444. Chen, T.K., Liao, H.H., Chen, W.C., 2012, “The Agency Problem Effect between Boards and Minority Equity Holders on Credit Risk: CEO Firing Threshold Perspective”, Working Paper. Chen, R.R., 1996, “Understanding and Managing Interest Rate Risks”, World Scientific, Chapter 5. Cornelli, F., Kominek, Z., Ljungqvist, A., 2013, “Monitoring Managers: Does it Matter?” Journal of Finance 68, 431-481. Demerjian, P., Lev, B., McVay, S., 2012, “Quantifying Managerial Ability”, Management Science 58(7), 1229–1248. Demerjian, P., Lev, B., Lewis, M.F., Sarah, E., McVay, S., 2013 , “Managerial Ability and Earnings Quality”, The Accounting Review 88:2, 463-498 Denis, D.J., Denis, D.K., Sarin, A., 1997, “Agency Problems, Equity Ownership and Corporate Diversification”, Journal of Finance 52, 135-160. Desender, K.A., 2009, “The relationship between the ownership structure and the role of the board”, Working Paper, University of Illinois at Urbana. Dunn, D., 1987, “Directors Aren't Doing Their Jobs”, Fortune 16, 117-119 Eisenberg, T., Sundgren, S., Wells, M.T., 1998, “Larger Board Size and Decreasing Firm Value in Small Firms”, Journal of Financial Economics 48, 35-54. Fama, E., Jensen, M., 1983, “Separation of Ownership and Control”, Journal of Law and Economics 26, 301-325. Fich, Eliezer M., Anil Shivdasani, 2006, “Are Busy Boards Effective Monitors? ”, Journal of Finance 61, 689-724. Finkelstein, Sydney, R., D’aveni, A., 1994, “CEO Duality as a Double-Edged Sword:How Boards of Directors Balance Entrenchment Avoidance and Unity of Command”, Academy of Management Journal 37,1079-1108. Giroud, Xavier, H., Mueller, M., 2011, “Corporate Governance, Product Market Competition, and Equity Prices”, Journal of Finance 66, 563-600. Guo, Lixiong, 2010, “Board Structure and Monitoring:New Evidence from CEO Trunover”, Working Paper, Vanderbilt University. Hermalin, Benjamin E., Michael S. Weisbach, 1998, “Endogenously Chosen Boards of Directors and Their Monitoring of the CEO”, American Economic Review 88, 96-118. Huddart, Steven, 1993, “The Effect of a Large Shareholder on Corporate Value”, Management Science 39, 1407-1421. Jiraporn, P., Y.S., Kim, Liu, Y., 2010, “The Impact of CEO Power on Analyst Following”, Working Paper, University of Pennsylvania State. John, Kose, Lubomir Litov, 2010, “Managerial Entrenchment and Capital Structure:New Evidence”, Journal of Empirical Legal Studies 7,693-742. Jostarndt, Philipp, Sautner, Z., 2008, “Financial Distress, Corporate Control, and Management Turnover”, Journal of Banking and Finance 32, 2188-2204. Kaplan, S., Klebanov, M., Sorensen, M., 2012. “Which CEO characteristics and abilities matter?”, Journal of Finance 67(3) 973–1007. Laux, Volker, 2008, “Board Independence and CEO Turnover”, Journal of Accounting Research 46, 137-171. Liu, Y., Jiraporn, P., 2010, “The effect of CEO power on bond ratings and yields”, Journal of Empirical Finance 17, 744-762. Malmendier, U., Tate, G., 2005, “CEO overconfidence and corporate investment”, Journal of Finance 60(6), 2661–2700. Shivdasani, A., Yermack, D., 1999, “CEO involvement in the selection of new board members: an empirical analysis”, Journal of Finance 54, 1829-1853. Stulz, Rene M., 1990, “Managerial discretion and optimal financing policies”, Journal of Financial Economics 26,3-27. Taylor, Lucian A., 2010 “Why are CEO Rarely Fired? Evidence from Structural Estimation”, Journal of Finance65, 2051-2087. Thore, S., Kozmetsky, G., Phillips, F., 1994, “DEA of financial statements data: The U.S. computer industry”, Journal of Productivity Analysis 5(3), 229–248. Warga, A., 1992, “Bond Return, Liquidity, and Missing Data”, Journal of Financial and Quantitative Analysis 27, 605-617. | |
dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/5335 | - |
dc.description.abstract | 董事會與小股東間的代理問題 (Board to minority equity holders)在文獻中少有提及,本篇論文探討CEO的經營能力,是否能影響董事會開除CEO的個人成本。本文將分別使用Demerjian (2012)中估計的CEO能力指標MA-Score及Chen, Liao, Chen (WP)中以Taylor (2010)的模型為基礎而設計出的董事會個人成本的指標Cpers來進行實證研究。結果顯示,能力較高的CEO及CEO確實會造成更嚴重的代理問題,使得公司表現不好時較難開除其CEO。同時,本篇研究也指出,CEO能力的波動性將影響董事會與小股東間的代理問題,波動性高的CEO將使代理問題嚴重程度下降。 | zh_TW |
dc.description.abstract | This study explores the relation between the managerial ability and the agency problems between boards and minority equity holders (later denoted as B-E agency problem) by employing CEO turnover data in the past 20 years. We employ Demerjian (2012) to estimate CEO ability and Chen, Liao, Chen (2012) to estimate the cost of B-E agency problem.The empirical results of this study show that, CEO’s ability significantly affects the firm’s B-E agency problem. The higher a firm's CEO's ability, the more serious the firm's B-E agency problem. Furthermore, we find that the instability in a firm's CEOs’ ability also significantly affect the firm's B-E agency problem. | en |
dc.description.provenance | Made available in DSpace on 2021-05-15T17:56:13Z (GMT). No. of bitstreams: 1 ntu-103-R01723083-1.pdf: 746528 bytes, checksum: f85218080f345afef76b704b1efa6a48 (MD5) Previous issue date: 2014 | en |
dc.description.tableofcontents | 摘要 i
ABSTRACT ii 圖表 iii I. 簡介 6 II. 文獻回顧 8 III. 假說 11 IV. 資料及研究方法 12 A. 董事會與小股東間的代理問題:Cpers 12 B. CEO能力的代理變數:MA-Score 13 C. 控制變數簡介 14 V. 敘述統計量及實證結果 16 A. 敘述統計量 16 B. 董事會與小股東間的代理問題與CEO能力 17 C. 董事會與小股東間的代理問題與CEO能力波動性 18 VI. 結論. 19 參考資料 v | |
dc.language.iso | zh-TW | |
dc.title | CEO經營能力對董事會與小股東間代理問題影響之研究 | zh_TW |
dc.title | Does Managerial Ability Affect the Agency Cost between Boards and Minority Equity Holders? | en |
dc.type | Thesis | |
dc.date.schoolyear | 102-2 | |
dc.description.degree | 碩士 | |
dc.contributor.oralexamcommittee | 陳聖賢,陳宗岡 | |
dc.subject.keyword | 代理問題,小股東,董事會,CEO經營能力, | zh_TW |
dc.subject.keyword | Agency problem,Minority equity holders,Boards,Managerial ability, | en |
dc.relation.page | 34 | |
dc.rights.note | 同意授權(全球公開) | |
dc.date.accepted | 2014-07-03 | |
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 |
文件中的檔案:
檔案 | 大小 | 格式 | |
---|---|---|---|
ntu-103-1.pdf | 729.03 kB | Adobe PDF | 檢視/開啟 |
系統中的文件,除了特別指名其著作權條款之外,均受到著作權保護,並且保留所有的權利。