公司治理特性、經營策略與績效關係之研究

• Main Author: 洪士庭
• Language: 中文
• Published: 國立政治大學
• Subjects: 公司治理; 經營策略; 績效; 差異化; corporation governance; business strategy; performance; differentiation
• Online Access: http://thesis.lib.nccu.edu.tw/cgi-bin/cdrfb3/gsweb.cgi?o=dstdcdr&i=sid=%22G0943530421%22.

過去有許多實證研究探討了公司治理特性對於公司經營績效的影響，特別是關於股權結構及管理階層薪酬方面，而在董事會特性對經營績效的影響上卻未獲致一致性的結論。近年來開始有研究探討董事會特性對於企業的經營策略，乃至於經營績效的關係。本研究參考Baysinger and Robert（1990）及He and Joseph（2006）等人提出之理論架構，針對國內上市公司的公司治理特性、經營策略選擇以及績效表現之關連性進行實證上之研究，研究之主要目的係在瞭解台灣上市公司的公司治理特性對於企業策略選擇之影響，並延伸過往研究，對公司治理特性、企業績效表現，以及不同的策略選擇三者間的關連性，提出實證研究上之證據。 本研究除印證過去文獻所指出董事會特性與股權結構對公司績效具有顯著影響及企業績效顯著受到策略行為影響外，並發現企業的差異化策略強度顯著受到公司治理特性影響。而將差異化策略強度依強弱程度作組別劃分時，差異化策略強度亦與公司治理特性同為影響企業績效的因素；另外，在不同差異化策略強度下，差異化策略強度為董事長雙元性、董事會持股、經理人持股影響企業績效的中介因子。本研究的結果支持Baysinger and Robert（1990）及He and Joseph（2006）等人所提出的理論架構，在探討公司治理特性影響企業績效時，或應將企業的策略行為納入考量。 === Formerly, there were many researchs discussed how corporation governance, equity structure and managerial remuneration especially, effects business performance. But, there were not consistent conclution in how the board attributes effects performance. Recently, there were some researchs discussed the relationship among corporation governance, business strategies and performance. This research dicussed the relationship among corporation governance, business strategies and performance in listed company in Taiwan, and referred to the theoretical frameworks advanced by Baysinger and Robert（1990）and He and Joseph（2006）. This research not only proved the performance effected by the board attributes equity structure and strategic behavior observably, but also discovered that the strength of difference strategy effected by corporation governance noteworthily. In the different degree of strength of difference strategy, the strength of difference strategy was the mediator to corporation governance and performance. This research argued that the strategic behavior should be considered when research how corporation governance effect performance.