In this paper, it attempts to investigate whether corporate governance affects
foreign investment or not. Furthermore, it also wants to detect what factors influence
the percentage of foreign investment. Some hypotheses for corporate governance and
foreign investment are developed in this study. Multi-regression models are conducted
to test the relationship between corporate governance factors and foreign investment.
The results of multi-regression models indicate that higher corporate
transparency, bigger companies and companies with lower liability ratio attract more
foreign investment. Moreover, companies held by big stockholders have higher
percentage of foreign investment; on the contrary, family-owned firms are not
preferred by foreign investors. In addition, foreign investors like to invest in firms
having more independent directors. Furthermore, companies having GDR (Global
Deposit Receipt) or ECB (Euro Convertible Bond) do increase the percentage of
foreign investment.
This paper also utilized the logistic regression to test what corporate governance
factors act on the willingness of issuing GDR and ECB. As a result, it finds that
company size, liability ratio and percentage of stocks held by owner¡¦s family all have
impact on whether the company issue GDR or not. In addition, size and family
holding are two significant factors that affect Taiwanese companies to issue ECB.
Hence, this paper provides some information for foreign investment in Taiwan.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0629107-160005 |
| Date | 29 June 2007 |
| Creators | Chen, Yu-Fu |
| Contributors | Jen-tsung, Huang, Y. Chris, Liao, David, shyu |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | English |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0629107-160005 |
| Rights | withheld, Copyright information available at source archive |
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