The Relationship between the Institutional Ownership and the Structure of Board of Director

• Main Authors: Wei-Chi Guo, 郭瑋琦
• Other Authors: 夏侯欣榮
• Format: Others
• Language: en_US
• Published: 2008
• Online Access: http://ndltd.ncl.edu.tw/handle/56302610252132486609

碩士 === 元智大學 === 財務金融學系 === 96 === Base on the companies institutional investors hold, in intuition, more ownerships hold by institutional investors that implied the companies more be monitored. The most important function of board of director is to monitor company’s operations. Most previous studies concern the relation between corporate governance factors and firm performance. In this research, we focus on the interaction of institutions and corporate governance rather than firm performance to corporate governance. We would like to exam whether well-monitoring function of board of director which impulses more incentive of institutions to hold more company’s ownership. Finally, through separating monitor and advisor in the board and combine them, we get evidence about the well-supervising function board of director causes institutions to hold more ownership. Furthermore, ownership held by institutions also brings a positive signal to investors.