Taiwan listed companies’ governance and operating performance assessment - the application of Data Envelopment Analysis benchmarking models

• Main Authors: Lee-hui Hsiao, 蕭麗慧
• Other Authors: Yung-ho Chiu
• Format: Others
• Language: zh-TW
• Published: 2012
• Online Access: http://ndltd.ncl.edu.tw/handle/48858678480224334292

碩士 === 東吳大學 === EMBA高階經營碩士在職專班 === 100 === This paper selects Taiwan listed companies during the period 2008 to 2010 and uses Data Envelopment Analysis (DEA) benchmarking models to evaluate those companies’ governance and operating performance. The selected companies are divided into two groups, crisis companies and non-crisis companies, and are calculated and analyzed their efficiency. The input variables are fixed assets, employees, the percentage of directors' and supervisors’ shareholding, and operating costs. The output variances are operating revenues and net profit before tax. The empirical results are summarized as follows： 1.It’s useful to avoid financial distress by improving governance and operating performance. 2.Traditional industries have lower risks, while high-tech industries have higher risks. Companies with efficiency below 1 should try to improve their governance and operating performance. 3.In traditional industries, companies with higher percentage of directors' and supervisors’ shareholding have poor efficiency value. 4.In traditional industries, the percentage of directors' and supervisors’ shareholding and the possibility of financial crisis are negatively related. 5.Industries with huge amount of fixed assets, like cement, plastics, electrical and cable, and optoelectronic, should pay more attention on resource allocation. In these industries, companies with lower percentage of directors' and supervisors’ shareholding have poor governance and operating performance.