| Summary: | 碩士 === 國立政治大學 === 會計研究所 === 101 === This study investigates the relation between corporate governance and performance and the difference in that relation between family and non-family ownership using a sample of publicly-traded Taiwanese companies during 2003-2012. Based on Ye, Lee, and Ke (2002, in Chinese), a composite index of corporate governance is set up from five constructs including director and supervisor, shareholders' equity, management style, overinvestment and related party. The empirical results are as follows:
1.The better the corporate governance, the better the corporate performance. This finding is true for each of the three samples including family ownership, non-family ownership and both of them together.
2.Taking return on assets (ROA) or earnings per share (EPS) as corporate performance measure, the effect of corporate governance on performance is stronger for family ownership than for non-family ownership.
3.Except for director and supervisor construct, all other four constructs of corporate governance including shareholders' equity construct, management style construct, overinvestment construct and related party construct have stronger effect on corporate performance for non-family ownership than for family ownership.
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