The Effect of Corporate Governance on Business Value: Evidence from the TSE-Listed LCD Companies

• Main Authors: Miao-Fang Chang, 張苗芳
• Other Authors: Song-Zan Chiou Wei
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/29484436240385120934

碩士 === 國立高雄應用科技大學 === 國際企業系 === 98 === The purposes of this paper are to study the effects of ownership structure, board structure and characteristics on business value using the TSE-listed LCD companies in Taiwan as example. We use the 2001 – 2008 quarterly reports of Taiwan public-listed LCD companies as our data sources, and our observed samples are 821. We use the descriptive statistics study method and the panel data model study method to do our analysis. The study results are as follow: (1) the board shares holding ratio is uncorrelated with business value in the TSE-listed LCD companies; (2) there is no significant relationship between institute shares holding ratio and business value in the TSE-listed LCD companies; (3) there has a positive significant relationship between manager shares holding ratio and business value in the TSE-listed LCD companies; (4) there has a negative significant relationship between shareholders holding ratio and business value in the TSE-listed LCD companies; (5) the board size is uncorrelated with business value in the TSE-listed LCD companies; (6) the outside board member ratio is uncorrelated with business value in the TSE-listed LCD companies; (7) and the company whose CEO is also an member of the board will significantly affect the business value in the TSE-listed LCD companies.