The Relationship between Ownership Structure, Capital Structure and Corporation Performance

• Main Authors: Yueh Yun Pan, 潘玥昀
• Other Authors: Y.W.Shyu
• Format: Others
• Published: 2008
• Online Access: http://ndltd.ncl.edu.tw/handle/64524533380166245545

碩士 === 長庚大學 === 企業管理研究所 === 96 === This study is to examine the relationship among of the ownership, capital structure, and corporate performance. This model is applied to the data of the Taiwan stock market for 2001~2007. We will apply linear regression models for panel data. Furthermore, applies F-test, LM-test and Hausman test to determine the best statistic method. The empirical results are summarized as follows: Debt ratio has a significant negative effect on performance; Insider ownership has significant positive impact on performance. Duality dummy variable has a no significant effect on performance. Insider ownership has significant impact on debt ratio. Only manager shares and duality dummy variable have no significant effect on debt ratio. The ownership structure has no different effect on capital structure and corporate performance if dividing the sample to different groups.