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http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/59756| Title: | 公司董事會成員與 CEO 相對年資對公司營運績效的影響 The Effect of Relative Seniority of Board Members and CEO on Firm Performance |
| Authors: | Chia-Hua Ho 何佳樺 |
| Advisor: | 陳彥行(Yan-Shing Chen) |
| Keyword: | 董事會特性,外部董事年資,CEO 年資,公司績效,超額現金, Board characteristics,tenure of independent directors,tenure of CEO,firm performance,excess cash, |
| Publication Year : | 2017 |
| Degree: | 碩士 |
| Abstract: | 本研究旨在探討董事會成員或外部董事是否會因為相對於 CEO 較為資淺，而 降低對 CEO 的監督能力，進而對公司績效產生負面效果。本文利用台灣經濟新報 資料庫 (TEJ) 中 2010 年與 2015 年上市上櫃企業的董監經理人學經歷資料與財報 資料進行研究，迴歸結果顯示董事會成員或外部董事相對於 CEO 之年資並不會影 響公司的營運績效 (ROA 或 ROE) 。但董事持股低或超額現金多的公司若董事會 成員又相對 CEO 資淺則對 Tobin’s Q 有負面的影響。 This paper mainly examines if the relative junior board members compared to CEO will have negative effect on firm performance measured by ROA、ROE and Tobin’s Q. The sample consisted of firms that had listed in Taiwanese Securities Exchange either in 2010 or 2015. The empirical results suggest that there is no direct effect of relative seniority of board members and CEO on firm performance measured by ROA and ROE. However, in firms’ with lower director ownership or higher excess cash, relative junior board members compared to CEO tend to have negative effect on Tobin’s Q. |
| URI: | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/59756 |
| DOI: | 10.6342/NTU201700516 |
| Fulltext Rights: | 有償授權 |
| Appears in Collections: | 財務金融學系 |
Files in This Item:
| File | Size | Format | |
|---|---|---|---|
| ntu-106-1.pdf Restricted Access | 1.08 MB | Adobe PDF |
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