The Impact of Shareholder Proposal on Corporate Performance - Evidence from Taiwan Listed Companies

• Main Authors: Tzu-Ying Chen, 陳姿穎
• Other Authors: Tusng-Nan Chou
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/95g3h4

博士 === 朝陽科技大學 === 財務金融系碩士班 === 101 === This study mainly investigates the impact of shareholder’s proposals on operation performance of companies, basing on the public listed companies of the Taiwan Stock Exchange in 2010-2012, and we use Tobin’s q and ROE as the proxy of operation performance and panel data model to conduct the empirical study. The results indicates that the ownership of the institutional investor and the directors’ compensation have the significantly negative impact on operation performance of public listed companies, and G-index has the significantly negative impact on operation performance. Regardless of the company size, the board of directors has the significantly negative impact on operation performance.