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| Title: | 股權結構、董事會組成對民營化企業經營績效之影響
The effect of ownership structure and board composition on the performance of privatized firms |
| Authors: | 蕭郁蓉
Hsiao, Yu Jung |
| Contributors: | 翁永和
Weng, Yung Ho
蕭郁蓉
Hsiao, Yu Jung |
| Keywords: | 民營化
經營績效
公司治理
股權結構
董事會組成
Privatization
Performance
Corporate Governance
Ownership Structure
Board Composition |
| Date: | 2008 |
| Issue Date: | 2011-09-29 18:33:25 (UTC+8) |
| Abstract: | 隨著經濟自由主義時代來臨，面對全球性的競爭及各國市場逐漸開放，公營事業民營化已是各國政府的重要財經政策之一。過去有關民營化對企業經營績效影響之研究頗為豐富，其中國外文獻大多贊成民營化對企業經營績效有顯著提昇之影響，然而國內相關文獻之研究結果，則較為紛歧。本文以西元1989年我國正式推動民營化政策以來，採用釋股方式完成移轉民營之21家上市公司為研究對象，來探討民營化企業獲利能力及經營績效的影響因素。由實證結果得知，政府持股比率、專業機構投資人持股比率、經理人持股比率、獨立董事人數、員工股票分紅等因素，對公司經營績效呈顯著正相關；然而董監事持股比率、董事會規模等因素，則對公司經營績效呈顯著負相關。
In the era of economic liberalization and globalization, privatization has become one of the most important economic policies around the world. During the past two decades, most studies have indicated that the performance of State-Owned Enterprises (SOEs) has improved after they were privatized. However, studies on SOEs of Taiwan have received controversial results. The purpose of this paper is to examine the effect of ownership structure and board composition on the performance of privatized firms in Taiwan that experienced full or partial privatization through public share offerings during the period 1989 to 2008. The results show that the ratio of government holdings, the ratio of institutional investors holdings, the ratio of managers holdings, the number of independent directors and share option schemes have significantly positive effects on firm performances. The results also suggest that the scale of board of directors and the ratio of directors holdings have significantly negative effects. |
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三、參考網站
行政院經濟建設委員會：http://www.cepd.gov.tw/
公開資訊觀測站：http://newmops.tse.com.tw/ |
| Description: | 碩士
國立政治大學
行政管理碩士學程
94921044
97 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0094921044 |
| Data Type: | thesis |
| Appears in Collections: | [行政管理碩士學程(MEPA)] 學位論文
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