碩士 / 朝陽科技大學 / 財務金融系碩士班 / 101 / The global financial crisis in 2007 and the European debt crisis in 2009, resulting in global stock market decline, and the economic downturn. A series of enterprises and factories closed down and corporate layoff, resulting in the recession the unemployment rate increased and deflation. The face of sudden crisis, the establishment of warning mechanism, it is particularly important and urgent. It is international demand by the NB, smart phones and tablet PCs, driven by exports of the manufacturing industry in Taiwan showing a rising trend (Ministry of Economic Affairs, 2010). This study constructs the panel data of manufacturing industry companies in Taiwan from 2002 to 2012.
It explores the impact of corporate governance on the business performance of manufacturing firms, the majority study in past literature is the correlation between company governance and operating performance. The empirical studies of the impact of corporate governance and crisis early warning mechanisms and financial crisis are rarely, so the 2007 is the cutting point,and explore before and after the financial crisis whether with difference.
We follow former literatures to use 1:1 and 1:2 patterns on the financial distress and non-financial distress, and consider simultaneous pair of proportion 1:3 construction (see Lee and Teng, 2009, Tsai et al., 2009, and Chen et al., 2010).
First, we use the data envelopment analysis (DEA) estimated efficiency values and find out which is the variable of the operating performances before and after the financial crisis, explore the corporate governance variables to determine the performances of operations of the determinants. Second, this study further builds the logistic model. Besides we integrate finance of variable into the Z-core model, corporate governance, macroeconomic factors and a rare discussed risk of variable. In addition, we try to find out the corporate governance mechanism whether has the effects on forecasting, then the empirical models with and without corporate governance are taking into consideration. We hope the empirical results would provide some valuable information for government, firms, investors and further study.
The empirical results show that the crisis different efficiency values before and after the financial crisis, which means that the crisis of company in the financial crisis, it is difficult to back to pre-crisis efficiency. The study finds incorporated into the corporate governance variables of logistic model with the slightly improved precision rate, which means that corporate governance for the enterprise to have substance.
| Identifer | oai:union.ndltd.org:TW/101CYUT5304009 |
| Date | January 2013 |
| Creators | Hong-yi Lin, 林宏懿 |
| Contributors | Ting-kun Liu, 劉定焜 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 94 |
Page generated in 0.0018 seconds