教師資料查詢 | 類別: 期刊論文 | 教師: 黃健銘 HUANG, CHIEN-MING (瀏覽個人網頁)

標題:A Note on Board Characteristics, Ownership Structure, and Default Risk in Taiwan
學年103
學期2
出版(發表)日期2015/03/01
作品名稱A Note on Board Characteristics, Ownership Structure, and Default Risk in Taiwan
作品名稱(其他語言)
著者Chiang, S.M.; Chung, H.M.; Huang, Chien-Ming
單位
出版者
著錄名稱、卷期、頁數Accounting and Finance 55(1), p.57-74
摘要This study applies dynamic generalized method of moments estimation to examine the influences of ownership structure and board characteristics on default risk for a full samples and two subsamples (high‐tech and conventional) of publicly listed firms in Taiwan. Our findings reveal that certain characteristics of corporate governance have explanatory power for default probability, but the impact is not straightforward. In particular, the impact of internal and external governance structures on default risk is industry dependent. Accordingly, governance proposals that encourage higher ownership among directors and large block shareholdings in high‐tech firms or reduce managerial ownership in conventional companies can have a counterproductive effect on corporate governance and result in higher bankruptcy possibility.
關鍵字Corporate governance;Default risk;Ownership structure;Board characteristics;Kealhofer, McQuown and Vasicek model
語言英文(美國)
ISSN
期刊性質國外
收錄於SSCI;
產學合作
通訊作者
審稿制度
國別美國
公開徵稿
出版型式,電子版
相關連結
Google+ 推薦功能,讓全世界都能看到您的推薦!