The Study of the impact of Corporate Governance Mechanism on the Corporate Performance and the Variability of Performance

• Main Authors: Chun-Feng Lai, 賴俊峯
• Other Authors: Ming-Cheng Wu
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/22555402796170774639

碩士 === 國立彰化師範大學 === 商業教育學系 === 98 === Prior studies most focus on the corporate performance and pay little attention to the variability of corporate performance. The main purpose of this study tries to fill this gap and focuses on the impact of the corporate governance mechanism on corporate performance and the variability of corporate performance. The variables used in this study includes return on assets, stock return and Tobin’s Q to measure corporate performance and the standard deviation of the variables to measure the variability of corporate performance. The empirical results indicate that the larger of board size, the chairman who is also the CEO, the higher percentage of directors and supervisors pledging or the higher deviation of control right with the worse corporate performance; the higher independence of board or the higher insider ownership with the well corporate performance. Further analysis the variables impact on the variability of corporate performance. The empirical results indicate that the chairman who is also the CEO, the higher percentage of directors and supervisors pledging or the higher deviation of control right with the higher variability of corporate performance; the larger of board size or the higher insider ownership with the lower variability of corporate performance; the independence of board is insignificantly with the variability of corporate performance.