碩士 / 國立臺北科技大學 / 商業自動化與管理研究所 / 99 / Due to the inadequate corporate governance along with corruption and financial scandals, many enterprises in Taiwan had suffered from the Global Financial Tsunami started 2008; ended up reformed, downsized, and, for quite a few, bankrupt. The series of consequent incidents has once again pointed out the importance of risk-taking in enterprise evaluation, which is the theme of this study. In this paper, the author aims at companies listed on Taiwan Stock Exchange (TSE)—firms in finance industry are excluded for certain attributes and peculiarity, with period from Jan. 2000 to Sep. 2010, to examine the influence of insiders to risk-taking level. Furthermore, considering the prevalence of family business in Taiwan, target enterprises are divided into four groups: family business, non-family business, conglomerate, and non-conglomerate.
The empirical study of “insiders’ shareholding” shows that there exists significant negative correlation between insiders’ shareholding and the ability of risk-taking of the target firm, which implies the higher shareholding of boarders, the lower the risk-taking ability. No significant difference is observed after the financial tsunami. The empirical study of “board structure” shows that the larger the scale of the board committee, the lower the risk of the firm, the higher the seats control, the higher the risk of the firm, the higher the number of the independent supervisors, the lower the risk of the firm. No significant difference is observed after the financial tsunami. The empirical study of “Internalization of shareholding” shows that, generally speaking, the higher the internalization of target enterprise, the higher the ability of risk-taking, whereas the result may differ with respect to variety of target firms. In this study, the results of family business and conglomerate business are most significant as time elapsed. It suggests that the specific scenario of family control in Taiwan could be a reliable way to run business under good corporate governance.
| Identifer | oai:union.ndltd.org:TW/099TIT05682020 |
| Date | January 2011 |
| Creators | Ruo-Yu Wang, 王若瑜 |
| Contributors | 林淑玲 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 136 |
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