The Control-enhancing mechanisms tocompany performance in Taiwan''s family business

• Main Authors: BO-YU SU, 蘇博昱
• Other Authors: Shu-Ching Chou
• Format: Others
• Language: zh-TW
• Published: 2012
• Online Access: http://ndltd.ncl.edu.tw/handle/66187965618769616855

碩士 === 國立雲林科技大學 === 財務金融系碩士班 === 100 === This study investigates the performance of family and non-family business by using a sample of 8378 listed Taiwanese companies from 1996 to 2010. This study further explore whether control-enhancing mechanisms have an impact on corporate performance, finally be added the second generation examine the first and second generation of the family business on corporate performance. Controlling industry and time fixed effects, the empirical results shows that family business has higher ROA than non-family business. Companies with control-enhancing mechanism, represented by family CEO, have higher ROA than companies without control-enhancing mechanism. The second generation family business contains inferior performance than the first generation family business.