| Summary: | 碩士 === 中國文化大學 === 會計學系 === 99 === In 2001, the fraud of Enron Company resulted in the enactment of Sarbanes Oxley Act. Hence, corporate governance has become a main focus in the world. Managers begin to realize the importance to develop a proper corporate governance system which has some extents of adjustments and match with various cultures and investing environments among countries. In this way, it can maximize operating profits and protect investors’ rights. Therefore, the concept of independent directors was introduced into Taiwan in
2002 and Securities and Futures Institute set up a system of information disclosure in 2003. Hopefully, it will make up the incomplete of corporate governance and provides a systematic and objective information of listed companies to investors in Taiwan. This research employs regression model to analyze the relationship among independence of directors, information disclosure, and operating performance. The research objects and periods are the listed companies of Taiwan from 2007 to 2009. The research samples of electronics companies are 1,741, and the samples of non-electronics companies are 1,232. The research results are as follows:
1. The relationship between independence of directors and operating performance is positive.
2. The relationship between information disclosure and operating performance is positive.
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