關鍵字查詢 | 類別:期刊論文 | | 關鍵字:Ownership Structure

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1 109/1 經濟系 林士全 助理教授 期刊論文 發佈 Heterogeneous effects of hotel ownership structure changes on localized market competition using multilevel mixed-effect analyses , [109-1] :Heterogeneous effects of hotel ownership structure changes on localized market competition using multilevel mixed-effect analyses期刊論文Heterogeneous effects of hotel ownership structure changes on localized market competition using multilevel mixed-effect analysesShih-Chuan Lin; Yoo Ri KimCompetition;Hotel;Market dynamics;Multilevel mixed-effect model;Ownership structure changeManagerial and Decision EconomicsOwnership structure, a source of firm heterogeneity, can change competitive environments and market structures; the impact on the hospitality industry is unknown. This study investigates the impact of hotel ownership structure changes on the magnitude of localized competition of different quality segment hotels. Two-level mixed-effect analyses reveal that hotel ownership structure change from chain-affiliated to independent increases the number of neighboring economy hotels, while the change from independent to chain-affiliated increases the number of neighboring upper-upscale hotel
2 108/2 經濟系 林士全 助理教授 期刊論文 發佈 Diversification strategies and failure rates in the Texas lodging industry: Franchised versus company-operated hotels , [108-2] :Diversification strategies and failure rates in the Texas lodging industry: Franchised versus company-operated hotels期刊論文Diversification strategies and failure rates in the Texas lodging industry: Franchised versus company-operated hotelsShih-Chuan Lin; Yoo Ri KimBrand diversification;Geographic diversification;Segment diversification;Failure rate;Franchised hotels;Company-operated hotelsInternational Journal of Hospitality Management 88, 102525This research examines the relationship between geographic, brand, and segment diversification and hotel failure rates based on ownership structure, i.e. franchised and company-operated hotels, in the Texas lodging industry. Literature on diversification strategies is mainly based on financial measures of performance and offers mixed results; only few studies have assessed firm failure rates directly based on distinct diversification strategies at the establishment level. The performance outcomes are significantly heterogeneous not only based on
3 108/2 管科系 倪衍森 教授 期刊論文 發佈 Does the Role of Relatives on Ownership Structure Affect Firm Value? , [108-2] :Does the Role of Relatives on Ownership Structure Affect Firm Value?期刊論文Does the Role of Relatives on Ownership Structure Affect Firm Value?Yensen Ni; Paoyu Huang; Yirung Cheng; Wan-Chi HuangReview of Business, 40(1), p. 16-44.zh_TW國內ESCI;否TWN
4 107/1 財金系 黃健銘 助理教授 期刊論文 發佈 Does Overseas-Listing Benefit the Shareholder? , [107-1] :Does Overseas-Listing Benefit the Shareholder?期刊論文Does Overseas-Listing Benefit the Shareholder?Pai, T.Y.; Huang, Chien-Ming; Wan, Y.L.Journal of Accounting, Finance, and Management Strategy 13(2), p.97-115This paper aims to investigate whether cross-listed companies experience changes in their ownership structure after the oversea listing to improve the firm performance or exploit the weak shareholder's rights. The conclusions are still ambiguous in the existence of current studies. Therefore, using the sample group of cross-listed companies in the Hang Seng China AH Premium Index from 2005 to 2014, we adopt the two-stage least square method to examine the alignment effects, conflict-of-interest hypothesis or strategic alignment hypothesis. To capture the relevant relationships between firm performance and controlling shareholders, the indicators of accounting-based performance and market-based performance are used in our analysis. The empirical results found that the largest ten shar
5 103/2 財金系 黃健銘 助理教授 期刊論文 發佈 A Note on Board Characteristics, Ownership Structure, and Default Risk in Taiwan , [103-2] :A Note on Board Characteristics, Ownership Structure, and Default Risk in Taiwan期刊論文A Note on Board Characteristics, Ownership Structure, and Default Risk in TaiwanChiang, S.M.; Chung, H.M.; Huang, Chien-MingCorporate governance;Default risk;Ownership structure;Board characteristics;Kealhofer, McQuown and Vasicek modelAccounting and Finance 55(1), p.57-74This 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 shareholdin
6 108/1 觀光系 葉劍木 教授 期刊論文 發佈 Ownership structure and firm performance of listed tourism firms , [108-1] :Ownership structure and firm performance of listed tourism firms期刊論文Ownership structure and firm performance of listed tourism firmsChien Mu Yehcash flow rights;institutional shareholders;listed tourism firms;ownership discrepancyInternational Journal of Tourism Research 21(2), p.165–179Ownership structure has been identified as a critical governance component due to its effect on firm performance. Within ownership structure, issues of institutional shareholders, cash flow rights of controlling owners, and ownership discrepancy have not been examined in the tourism sector. The current study uses listed tourism firms in Taiwan to empirically examine how these three variables influence firm performance. Results show a positive effect on return on assets and Tobin's Q from the presence of institutional shareholders and cash flow rights of controlling owners. Ownership discrepancy has a negative effect on Tobin's Q. The present results can make contributions to agency theory and principles
7 105/2 會計系 郭樂平 教授 期刊論文 發佈 Corporate political activity and environmental sustainability disclosure: the case of Chinese companies , [105-2] :Corporate political activity and environmental sustainability disclosure: the case of Chinese companies期刊論文Corporate political activity and environmental sustainability disclosure: the case of Chinese companiesKuo, Lopin; Yu, Hui-ChengChina; Guanxi; Low-carbon economy; Corporate political activity; Environmental sustainability disclosureBaltic Journal of Management 12(3), p.348-367Purpose This study takes on a corporate political activity (CPA) perspective to investigate how CPA affects environmental sustainability disclosure among firms in China and whether the disclosure level varies across ownership structures and environmental sensitivity statuses. Design/methodology/approach The sample comprises 652 corporate social responsibility (CSR) reports released by firms in China during 2008-2010. Data is coded through a content analysis procedure before being analyzed using regression analysis. Findings We find a significant and positive association between CPA and environmental
8 105/1 國企系 蔡政言 教授 期刊論文 發佈 Politically connected lending, government capital injection, and bank performance , [105-1] :Politically connected lending, government capital injection, and bank performance期刊論文Politically connected lending, government capital injection, and bank performanceJou, Rosemary; Chen, Shi; Tsai, Jeng-YanGovernment capital injection;Ownership structure;Political connection;Barrier optionInternational Review of Economics and Finance 47, p.220-232This paper takes a contingent claim approach to evaluate the equity and risk of a bank. The paper investigates how government capital injection affects the bank's lending and equity risk, and how these effects vary across remaining privately owned and becoming government-owned. In particular, we argue that the strength of government ownership is useful in disciplining management of preferential access to debt financing for politically connected borrowing firms. It is shown that government capital injection leads to superior performance and greater safety for the bank remaining privately owned. The advantage of large capital is likely to be mor
9 103/1 會計系 郭樂平 教授 期刊論文 發佈 The signals of green governance on mitigation of climate change – evidence from Chinese firms , [103-1] :The signals of green governance on mitigation of climate change – evidence from Chinese firms期刊論文The signals of green governance on mitigation of climate change – evidence from Chinese firmsKuo, Lopin; Yu, Hui-Cheng; Chang, Bao-GuangContent analysis, Green innovation, Disclosure, Climate change, Environmental management, Greenhouse gas (GHG)International Journal of Climate Change Strategies and Management 7(2), pp. 154-171Purpose – This paper aims to examines whether Chinese firms’ signals of green governance, including environmental management, green innovation, and greenhouse gas (GHG) and pollution emission, vary significantly with their ownership structure and aim of being environmentally sensitive. Design/methodology/approach – From corporate social responsibility (CSR)-China website and CNINFO, a total of 781 CSR reports released during 2008-2010 were collected. The collected data were coded and analyzed using content analysis. Findings – In overall disclosure of environ
10 104/2 保險系 何佳玲 副教授 期刊論文 發佈 Ownership Structure and Reinsurance Decisions: Evidence from the Property Casualty Insurance Industry in China , [104-2] :Ownership Structure and Reinsurance Decisions: Evidence from the Property Casualty Insurance Industry in China期刊論文Ownership Structure and Reinsurance Decisions: Evidence from the Property Casualty Insurance Industry in ChinaChia-Ling HoReinsurance demand;ownership structure;compulsory reinsurance;voluntary reinsurance;facultative reinsurance;treaty reinsuranceThe Chinese Economy 49(1), p.14-31This study examines the impact of ownership structure on reinsurance decisions in the Chinese property casualty insurance industry. The evidence shows that foreign insurers have higher reinsurance demand than domestic insurers. Specifically, foreign insurers are more likely to purchase volunteer reinsurance. More important, foreign insurers are associated with a higher percentage of facultative reinsurance ratios than domestic insurers. We also find that the insurer’ ROA is positively related to reinsurance demand, whereas firm size and tax shield are negatively related to reinsurance demand.
11 104/1 經濟系 陳柏儒 助理教授 期刊論文 發佈 Intellectual Property Rights Protection, Ownership Structure and Vertically Related Markets , [104-1] :Intellectual Property Rights Protection, Ownership Structure and Vertically Related Markets期刊論文Intellectual Property Rights Protection, Ownership Structure and Vertically Related MarketsChen, Po-Luintellectual property rights protection; foreign direct investment; ownership structure; vertically related marketsAsia-Pacific Journal of Accounting & Economics 22(3), pp.331-345This paper considers the protection of intellectual property rights (IPR) as a determinant of the mode of foreign direct investment (FDI). By analyzing wholly-owned investment and equity joint venture in vertically related industries, I find that as IPR protection gets more stringent, the propensity to choose equity joint venture decreases. Analysis of the firm-level data set from Taiwanese multinational manufacturing enterprises (MNEs) in 2006 lends supports to this result. This paper also finds that local welfare increases after entry of a multinational enterprise (MNE) if the local market size is not too large. In
12 103/2 會計系 張寶光 教授 期刊論文 發佈 The signals of green governance on mitigation of climate change – evidence from Chinese firms , [103-2] :The signals of green governance on mitigation of climate change – evidence from Chinese firms期刊論文The signals of green governance on mitigation of climate change – evidence from Chinese firmsKuo, Lopin; Yu, Hui-Cheng; Chang, Bao-Guang淡江大學會計學系Content analysis;Green innovation;Disclosure;Climate change;Environmental management;Greenhouse gas (GHG)Bingley: Emerald Group Publishing LimitedInternational Journal of Climate Change Strategies and Management 7(2), pp.154-171Purpose – This paper aims to examines whether Chinese firms’ signals of green governance, including environmental management, green innovation, and greenhouse gas (GHG) and pollution emission, vary significantly with their ownership structure and aim of being environmentally sensitive.
 
 Design/methodology/approach
 – From corporate social responsibility (CSR)-China website and CNINFO, a total of 781 CSR reports released during 2008-2010 were collected. The collected data were coded and analyzed using cont
13 103/1 會計系 徐志順 副教授 期刊論文 發佈 台灣上市櫃公司股權結構與企業永續性之關聯性:並論產業與國際化之調節效果 , [103-1] :台灣上市櫃公司股權結構與企業永續性之關聯性:並論產業與國際化之調節效果期刊論文台灣上市櫃公司股權結構與企業永續性之關聯性:並論產業與國際化之調節效果The Relationship Between Ownership Structure and Corporate Sustainability: The Moderating Effect of Industry and Internationalization徐志順; 華浤安淡江大學會計學系股權結構;企業永續性;產業;國際化;ownership structure;corporate sustainability;industry;internationalization新北市:淡江大學會計教育基金會當代會計=Journal of Contemporary Accounting 15(2),頁193-223本研究之目的在探討企業股權結構與企業永續性之關聯性,以及產業與國際化對此關聯性的調節效果。以2013年道瓊永續指數提名之台灣上市櫃企業為永續性企業,並進行樣本配對,共蒐集456筆資料,採用Logit迴歸分析方法檢定研究假說。研究結果指出外資股權、信託基金股權與企業永續性有正向關聯性,政府股權、散戶股權、董事股權與經理人股權則有負向關聯性,產業及國際化則對部分股權結構與企業永續性具有調節效果。本研究除了補充目前台灣企業永續性相關文獻外,亦對台灣實務界與政府主管機關在制定其投資決策時,提供參考價值。 This study aims to examine the relationship between ownership structure and corporate sustainability, and the moderating effect that industry and internationalization has on such relationship. Our sample, totaling 456 observations from 2010 and 2012, consisted of Taiwan listed sustainable companies that were DJSI nominated for year 2013, paired with non-sustaina
14 101/2 企管系 錢思敏 助理教授 期刊論文 發佈 A Corporate Life Cycle Analysis on the Relationship Between Ownership Structure and Performance: Evidence from the Taiwan Stock Exchange , [101-2] :A Corporate Life Cycle Analysis on the Relationship Between Ownership Structure and Performance: Evidence from the Taiwan Stock Exchange期刊論文A Corporate Life Cycle Analysis on the Relationship Between Ownership Structure and Performance: Evidence from the Taiwan Stock ExchangeLiao, Wen-Chih; Shyu, Jonchi; Chien, Szu-Min淡江大學企業管理學系Corporate governance;performance;ownership structure;corporate life cycle臺南市:成功大學管理學院Asia Pacific Management Review 18(2), pp.53-64This study analyzes the relationship between a firm's ownership structure and its performance. Directorial and managerial ownership are two types of ownership. The corporate life cycle stages analyzed in this paper are the growth stage, maturity stage, and the life cycle as a whole. The data was taken from a 1994-2004 panel of 488 manufacturing firms listed on the Taiwan stock exchange. In order to correct endogeneity issues, a simultaneous model is used to analyze the relationship. As a result, in both the growth and maturity stages
15 101/1 企管系 錢思敏 助理教授 期刊論文 發佈 The affection of profit incentive of ICT industry on the relationship between ownership and corporate performance , [101-1] :The affection of profit incentive of ICT industry on the relationship between ownership and corporate performance期刊論文The affection of profit incentive of ICT industry on the relationship between ownership and corporate performanceLiao, Wen-Chih; Chien, Szu-Min淡江大學企業管理學系Lagos: Academic JournalsAfrican Journal of Business ManagementProfit Incentive is the variable and this study provided to explain the relationship between ownership structure and corporate performance. According the literature review, our study concludes the most influential sources of profit incentive. Because of the different sources of profit incentive for directors and managers between ICT and non-ICT firms, we analyzed all samples, ICT firms and non-ICT firms. Taking endogeneity endogenous of ownership structure into consideration, we set up simultaneous models for ownership structure and corporate performance. The samples in the study were on the basis of listed manufacturing firms including 199 ICT firms and 280 n
16 100/1 國企系 黃健銘 助理教授 期刊論文 發佈 The Influences of Ownership Structure: evidence from China , [100-1] :The Influences of Ownership Structure: evidence from China期刊論文The Influences of Ownership Structure: evidence from ChinaHuang, Bor-Yi; Lin, Cho-Min; Huang, Chien-Ming淡江大學國際企業學系Financial leverage;Capital structure;Credit risk;Long term debt;Business entities;Debt financing;Business risks;Standard deviation;Investors;Investment management companiesNashville: Journal of Developing AreasThe Journal of Developing Areas 45(1), p.209-227This paper examines that the impact of firm-specific characteristic on firm capital structure in Chinese-listed companies and attempts to solve a few puzzles existing in previous related studies. The key factors include state ownership, institutional ownership, and the risk of default. From the analyses of all samples, our results confirm that the expected default risk is important in explaining debt decision, but the influence of ownership structure is not significant. However, after separating high- and low-level from the firm leverage we find that the owner
17 100/1 保險系 湯惠雯 副教授 期刊論文 發佈 董事會特性與股權結構對台灣壽險業經營績效之影響 , [100-1] :董事會特性與股權結構對台灣壽險業經營績效之影響期刊論文董事會特性與股權結構對台灣壽險業經營績效之影響The Effect of Board Characteristics and Ownership Structure on the Operational Efficiency of Life Insurance Companies in Taiwan湯惠雯; 郭翊槿淡江大學保險學系股權結構;家族控制;經營績效;董事會特性;資料包絡分析法;Board Characteristics; Data Envelopment Analysis; Family Control; Operational Efficiency; Ownership Structure臺中市:逢甲大學企業管理學系臺灣企業績效學刊 5(1),頁19-39本研究以台灣公開發行的壽險公司為樣本,檢視董事會特性與股權結構對經營效率的影響,並利用資料包絡分析法(data envelopment analysis, DEA)衡量壽險業的經營效率。有鑑於投資收益對壽險業經營績效的重要性,本研究評估效率值時,在投入項除考慮勞力及資本外,特別加入資金運用金額,同時在產出項則納入保費收入及投資淨收益。研究結果發現,董監持股比率與效率值存在顯著的正向關係,符合「利益收斂假說」;CEO雙重性與公司經營效率亦呈顯著的正向關係;董事會規模與效率值則呈顯著負相關。此外,家族控制與非家族控制的樣本,在效率值、董事會特性及股權結構等變數,均呈現顯著差異。;This study examines the effect of board characteristics and ownership structure on the operational efficiency of public life insurers in Taiwan. Data envelopment analysis (DEA) is employed to evaluate operational efficiency of sample firms. Since the merit of investment plays an important role of insurers' performance, we adopt total am
18 97/2 保險系 陳麗娟 教授 期刊論文 發佈 EU單一金融市場內投資人保護之研究:兼論德國轉換立法落實投資人之保護 , [97-2] :EU單一金融市場內投資人保護之研究:兼論德國轉換立法落實投資人之保護期刊論文EU單一金融市場內投資人保護之研究:兼論德國轉換立法落實投資人之保護Investor Protection within the Single European Financial Market and Transforming in German Legal System陳麗娟淡江大學歐洲研究所公司治理;歐洲聯盟;單一金融市場;股權結構;投資人保護;資訊揭露;內線交易;市場濫用;收購;Corporate governance;European union;Single financial market;Ownership structure;Investor protection;Disclosure of information;Insider trading;Market misuse;Takeover桃園縣:中原大學財經法律學系中原財經法學=Chung Yuan Financial & Economic Law Review 22,頁1-45好的公司治理不僅需要有好的公司經營,也需要有好的外部監控制度,為了要促進金融市場的正常交易與保護投資人,公司法與金融市場法為一體兩面的法律規範。自一九八七年單一歐洲法(SingleEuropeanAct)生效後,歐洲聯盟(EuropeanUnion;以下簡稱EU)逐步自由化其金融市場,歐洲經濟暨貨幣同盟(EuropeanEconomicandMonetaryUnion)的建立促進歐洲金融制度的轉變,使用單一貨幣歐元(Euro)後,不僅消除了歐洲金融制度不同的匯率風險,同時促進了歐洲金融單一化的進程。在EU各會員國中,由於不同的歷史文化背景、公司股權結構與公司法制度,而有不同的融資結構,例如德國的金融市場由銀行與機構投資人主導,企業融資方式以銀行貸款為主;市場主導型的代表為英國,金融市場規模大,散戶與企業的市場參與程度高,股權分散為英國金融市場的特色。在歐洲公司治理機制中,亦因會員國間公司股權結構不同而有差異。英國與德國分別是是英美法與大陸法的代表,英美法與大陸法有不同的公司治理制度,EU同時存在不同的公司治理制度,本文擬在EU的單一金融市場架構下,探討公司經營與投資人保護的關連性。近年來EU不斷的致力於金融市場法的整合立法,在全球化的投資
19 87/1 會計系 張寶光 教授 期刊論文 發佈 CEO tenure, financial performance, and ownership structure: An application of survival model. , [87-1] :CEO tenure, financial performance, and ownership structure: An application of survival model.期刊論文CEO tenure, financial performance, and ownership structure: An application of survival model.Chang, B. G.; Fu, C. J.; Yang, C. S.淡江大學會計學系Sun Yat-Sen Management Review, International Issue August, pp.675-694tku_id: 000114486;Submitted by 曉芬 游 (139570@mail.tku.edu.tw) on 2011-10-20T04:49:13Z No. of bitstreams: 0;Made available in DSpace on 2011-10-20T04:49:13Z (GMT). No. of bitstreams: 0en<links><record><name>機構典藏連結</name><url>http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/64179</url></record></links>
20 99/1 會計系 孔繁華 副教授 期刊論文 發佈 Is conditional conservatism higher for overseas-listed Chinese companies on the Hong Kong Stock Exchange? , [99-1] :Is conditional conservatism higher for overseas-listed Chinese companies on the Hong Kong Stock Exchange?期刊論文Is conditional conservatism higher for overseas-listed Chinese companies on the Hong Kong Stock Exchange?孔繁華; Kung, Fan-hua; James, Kieran; Cheng, Chia-ling淡江大學會計學系Irish Accounting and Finance AssociationIrish Accounting Review 17(1), pp.31-53This paper examines conditional accounting conservatism (Basu, 1997) of Chinese companies that are overseas listed in Hong Kong as H-shares. Due to cultural, historical and political factors, H-share companies are expected to report no more conservatively than their Chinese counterparts that are not overseas listed. The institutional setting of H-share companies, with concentrated state ownership structures, bureaucratic management incentives and political interference, are expected to impede the supply of conservative reporting. Hong Kong listed H-share companies are exposed to the threat of litigation, competitive market forces and a stri
21 99/1 會計系 孔繁華 副教授 期刊論文 發佈 The Effects of Corporate Ownership Structure on Earnings Conservatism: Evidence from China , [99-1] :The Effects of Corporate Ownership Structure on Earnings Conservatism: Evidence from China期刊論文The Effects of Corporate Ownership Structure on Earnings Conservatism: Evidence from ChinaKung, Fan-hua; Cheng, Chia-ling; James, Kieran淡江大學會計學系Las Vegas, Nevada: Macrothink InstituteAsian Journal of Finance and Accounting 2(1), pp.47-67tku_id: 000133924;Submitted by 曉芬 游 (139570@mail.tku.edu.tw) on 2011-10-20T04:44:26Z No. of bitstreams: 0;Made available in DSpace on 2011-10-20T04:44:26Z (GMT). No. of bitstreams: 0;20131228 verified by Sujenen1946-052X國外否USA<links><record><name>機構典藏連結</name><url>http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/64126</url></record></links>
22 94/2 會計系 郭樂平 教授 期刊論文 發佈 CEO Tenure in Taiwanese Family and Nonfamily Firms: An Agency Theory Perspective , [94-2] :CEO Tenure in Taiwanese Family and Nonfamily Firms: An Agency Theory Perspective期刊論文CEO Tenure in Taiwanese Family and Nonfamily Firms: An Agency Theory PerspectiveTsai, Wen-hsien; Hung, Jung-hHua; Kuo,Yi-chen; Kuo, Lo-pin淡江大學會計學系Thousand Oaks: Sage Publications, Inc.Family Business Review 19(1), pp.11-28This study investigated the tenure of CEOs in a sample of 304 listed companies in Taiwan; 63 firms were family controlled, 241 were not. The results show that CEO turnover is significantly lower in family firms and its relationship to corporate performance is negative. CEO ownership and board ownership are not significant in explaining the length of family CEO tenure. These findings imply that family boards can still effectively replace the CEO despite relatively low ownership. From the ownership structure perspective, this study suggested that the agency theory is applicable for nonfamily firms in Taiwan, but unsuitable for family firms.Submitted by 樂平 郭 (lopinkuo@mail.tku.edu.tw) on
23 94/2 決策系 倪衍森 教授 期刊論文 發佈 家族企業負債代理成本及股利政策之研究-以台灣上市公司為例 , [94-2] :家族企業負債代理成本及股利政策之研究-以台灣上市公司為例期刊論文家族企業負債代理成本及股利政策之研究-以台灣上市公司為例倪衍森; Ni, Yen-sen; 廖容岑淡江大學經營決策學系股權結構;家族企業;負債融資成本;股利政策;代理理論;Ownership Structure;Family Ownership Enterprise;Costs of Debt Financing;Dividend Policy;Agency Theory中華民國企業管理學會管理與系統13(2),頁153-179本研究旨在從代理理論觀點探究家族所有權與其負債融資成本與股利政策間之關聯性。家族所有權代表著一種大股東的特別型式,而台灣上市公司多數具有股權集中且以家族控制為主體之特徵,因此這些擁用控制權的所有者所引發的代理問題是不可忽視的。以民國87年至91年間有進行融資行為股利宣告的台灣上市公司為研究對象,剔除金融保險業、資料遺漏之公司及極端值後,利用獨立樣本t檢定、迴歸模式及橫斷面與時間序列合併資料模式進行實證分析,首先比較家族公司與非家族公司在融資決策及股利政策上的差異性,再進一步從家族成員所擁有之持股比例探討其與其負債融資成本與股利決策間之關聯性。實證結果如下:在融資決策方面,研究結果顯示,1.家族公司與非家族公司之負債融資成本的負擔並無差異性。2.經營績效與負債融資成本為顯著正相關。3.公司規模與負債融資成本為負相關。在股利政策方面,研究結果顯示,1.家族公司現金股股利之發放率高於非家族公司。2.家族持股比率對股票股利發放為正向影響。3.績效對現金股利發放為正向影響,對股票股利之發放為顯著負向的影響。4.前期股利發放決策對本期股利發放決策有明顯的影響。5.股票股利發放率在不同產業間確實有顯著差異性。 由實證結果可知,台灣投資人及融資者皆視家族為公司內有效之治理機制,且在進行授信行為時,認為債權人-股東間存在代理問題及代理成本。在股利政策方面,家族公司利用發放現金股利來減輕外部股東對公司存在家族控制股東所引發代理問題之疑慮。tku_id: 000103490;Made available in DSpace on 2010-12-23T05:56:28Z (GMT). No. of bitstreams: 1 index.html: 118 bytes, checksum:
24 92/1 會計系 蔡信夫 教授 期刊論文 發佈 控制股東代理問題與盈餘資訊內涵之關聯性研究--以台灣上市公司為例 , [92-1] :控制股東代理問題與盈餘資訊內涵之關聯性研究--以台灣上市公司為例期刊論文控制股東代理問題與盈餘資訊內涵之關聯性研究--以台灣上市公司為例Ownership Structure and the Informativeness of Earnings: Evidence from Taiwan蔡信夫; Tsai, Hsin-fu; 鍾惠民; 林詩韻淡江大學會計學系淡江大學會計學系; 財團法人臺北市淡江會計教育基金會當代會計4(2),頁143-167tku_id: 000001163;Made available in DSpace on 2009-11-30T04:40:56Z (GMT). No. of bitstreams: 1 : 118 bytes, checksum: 3d5049e94956c94d1928154def447a9a (MD5)zh_TW1609-3895<links><record><name>機構典藏連結</name><url>http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/20302</url></record></links>
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