碩士 / 國立中興大學 / 財務金融系所 / 99 / This study uses the financial tsunami as the background to explore the performances of the companies which are going on the market, cabinet in Taiwan , and what effects do the corporate governance of their own have on the value of the firm during this period. And we then extend the time period into one year later after the financial tsunami to do research on the relationship between corporate governance and firm value. Finally, we compare values and performances of the firms to see if the factor of corporate governance affects them more in the period of financial tsunami than in the period of non-financial tsunami .This question is what we want to ask.
Empirical results:
(i) As for the stock return, the ratio of insider ownership, board size and institutional investors holding shares have significant impacts on the stock return during financial tsunami; however, one year after the financial tsunami, it doesn’t have significant relationship for stock return. If we compare the two periods, financial tsunami and non-crisis, the factor of corporate governance during financial tsunami shows a more significant impact on the company''s stock return than in non-crisis period.
(ii)how about the Tobin''s Q? The ratio of insider ownership, board size and institutional investors holding shares also have significant impacts on the company’s Tobin''s Q during financial tsunami. However, one year after the financial tsunami, it doesn’t have particularly significant relationship for Tobin''s Q either. If we compare impacts of the factor of corporate governance on Tobin''s Q in financial tsunami times with non-crisis period, the variables of corporate governance do not show more significant relationship for Tobin''s Q during financial tsunami than during non-crisis times.
| Identifer | oai:union.ndltd.org:TW/099NCHU5304010 |
| Date | January 2011 |
| Creators | Yu-Chiao Hung, 洪煜喬 |
| Contributors | Chih-Yi Chi, 紀志毅 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 49 |
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