The study about the effects of corporate governance in assets impairment after merger and acquisition.

• Main Authors: Chung-sheng Chen, 陳忠生
• Other Authors: Shaio-Yan Huang
• Format: Others
• Language: zh-TW
• Published: 2009
• Online Access: http://ndltd.ncl.edu.tw/handle/60216498039601139009

碩士 === 逢甲大學 === 會計所 === 97 === The goal of enterprise in mergers and acquisitions is to improve performance. Prior study used return of asset or stock price return to evaluate the performance of mergers and acquisitions compare with ex ante mergers and acquisitions or industry situation. This study applied another way to capture performance which is “Impairment of Assets.”If enterprise get profit form takeover, we also consider the wealth protect mechanisms“corporate governance”. This study exam that the corporate governance affect the impairment of assets after mergers and acquisitions. The result of this study find that the related-party subsample, the corporate governance quality is negative significant with impairment of assets affect takeover. However in nonrelated-party subsample not significant. The reason of the situation may result from serious information asymmetry between buyer and seller when they are nonrelated-party, the result reveal when enterprise deal with mergers and acquisition, must be conservatively assessment the synergies.