A Study on the Internal System of Corporate Governance in Taiwan Electronics Industry

• Main Authors: Chien-Hao Chang, 張建豪
• Other Authors: Koong-Lian Kao
• Format: Others
• Language: zh-TW
• Published: 2004
• Online Access: http://ndltd.ncl.edu.tw/handle/94y5nn

碩士 === 中原大學 === 企業管理研究所 === 92 === Abstract The purpose of this study is to investigate the status of the internal system of corporate governance including the board of directors, ownership structure and salaries in the electronics companies listed publicly in Taiwan. If the corporate governance of the firm is superior to others in the same industry, the performance, ROA, ROE, EPS, of the firm is promoted. Furthermore, we research whether the cognitions of companies and professional and general investors for the internal system of corporate governance are different or not. A total of 278 questionaries to companies were mailed by internet and 35 effective returns were received. At the same time, questionaries to professional and general investors were mailed and 70 and 144 returns were received. The methods used in the research include descriptive statistic, correlation analysis and regression. Results of this study show that： 1. The internal system of corporate governance has positive relation with firm performance. We found if there were outside independent directors in the board, the performance, ROA, ROE, EPS, of the firm is promoted. So did inside directors. The information about ownership structure and payments of directors and manager is more clear, the performance is more better. Therefore, we suggest that companies should strengthen the internal system of corporate governance to raise the performance and competitive forces. 2. The cognitions of companies and professional and general investors are different. We found that the cognitions of companies and professional and general investors are different, and the sores in turn are companies, professional investors and general investors. The reasons are that the channels getting information are too insufficient or the information is too complicated to lead the information which is asymmetric. Therefore, we suggest that companies should expand the channels and simplify the information for investors to lessen the asymmetric situation.