The Effectiveness of Corporate Governance Assessment

• Main Authors: Hai-Hua Wang, 王海華
• Other Authors: Shen-Yuan Chen
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/67711335627111583627

碩士 === 國立臺北商業技術學院 === 財務金融研究所 === 101 === This study examines the effectiveness of corporate governance assessment issued by Taiwan Corporative Governance Association (TCGA) by utilizing the t-test and regression analysis. Based on these two methodologies, the difference between the sample companies and matching companies is investigated. The result shows that sample companies, which pass the assessment operational performance, actually has lower performance than before. Also, the directors’ shareholding decreases significantly. Only independent directors increase. On the contrary, the matching companies show no significant change of operational performance before the evaluation and after the evaluation. If the company board members' share and their pledge stock increase , the company performance possibly lower. The company supervisor and foreign investors' holding shares increase, possibly reflect this company perform greater.