The Agency Implication of Professional Manager’s Position: An Empirical Study of Family Business in Taiwan’s Personal Computer Industry

• Main Authors: Hui-Hsin Lee, 李卉馨
• Other Authors: Kuang S. Yeh
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/34355540008235178872

碩士 === 國立中山大學 === 企業管理學系研究所 === 99 === Family-owned governance is a typical governance structure in Taiwan’s companies, including those ones engaged in high-tech industry. For those family-owned companies in high-tech industry, they need to assign professional managers in key decision-making roles in order to compete in this industry characterize by fast-moving, rapidly changing, and highly competitive. Thus, the mechanism to solve the possible agency problem caused from separation of ownership and management is a rather tough issue for those high-tech family-owned companies. Utilizing the over-five-year data, this study examines the possible relationships between the assignment of professional managers in key decision-making roles, the family sharing, and the performance in Taiwan’s family-owned companies in personal computer industry. The results indicate that assigning professional managers in key decision-making roles will negatively moderate the negative relationship between family indirect sharing and performance. However, the assignment of professional managers in key decision-making roles will not significantly influence the relationship between family direct sharing and performance in high-tech family-owned companies. The finding highlights the importance of giving professional managers decision-making positions to solve the agency problem besides the typical compensation mechanism in family-owned company context. Furthermore, it also provides referable values in agency issues in family businesses.