A Research of Corporate Governance and Credit Rating – A case study of AIG Group & its subsidiary – Nan Shan Life Insurance Company

• Main Authors: Jui-Huan Tai, 戴瑞紅
• Other Authors: Yang-Pin Shen
• Format: Others
• Language: zh-TW
• Published: 2007
• Online Access: http://ndltd.ncl.edu.tw/handle/89903943269580209820

碩士 === 元智大學 === 管理研究所 === 95 === Corporate governance policy shall design not only to prevent and to find out any trickery but also to take the mandatory responsibility of revealing information to share holder and retain the mechanism of audit and control. In this sense, credit rating is what we used to evaluate the capability of finance redemption to any individual or stock, where it shall include but not limit to interest, stock dividend of preferred stock, and the capability of capital reimbursement,…etc. However, the finance risk management model still has plenty of room to improve if the credit rating corporation would reduce one company’s credit rating only until it has problem on corporate governance and financial crisis are caused. Take the Enron case as example, the high level management had been window-dressing its financial reports to expand the trading of “ Enron Online”. The investors will never know there’s been a finance crisis taking place from these reports. So it is necessary indeed to explain the possibilities of financial crisis from other information than financial reports. The Asia financial crisis in 1997 has urged many researches that try to explain why it happened from corporate governance perspective. These studies were taking a country as the research objective, but we had found even the crisis occurred in the country, still there’re companies that are running in good condition. So it is necessary to take a company as the research objective and to explore how corporate governance would affect the financial crisis. This thesis aims on corporate governance & credit rating and to explore the influence of internal control and risk management to AIG Group and its subsidiary – Nana Shan Life insurance company while financial crisis occur on AIG Group.