A Study of Relationships Between Corporate Governance and Performance - Evidence From The Companies Received By TCGA’S Assessment

• Main Authors: Cheng-Chih Cheng, 鄭丞志
• Other Authors: Shen-Yuan Chen
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/758378

碩士 === 國立臺北商業技術學院 === 財務金融研究所 === 101 === This research, using difference test and regression analysis, analyzes the companies’ difference between operating performance and corporate governance. The data was collocated from 2005/02/17 to 2012/12/28 and the samples are first approved by TCGA’s Corporate Governance Assessment System. There are three main purposes as below: (1) After first approved by TCGA’s Corporate Governance Assessment System, the research will estimate the affection between operating performance and corporate governance. (2) After approved by advance version of TCGA’s Corporate Governance Assessment System, the research will estimate the difference between general and advance version of TCGA’s Corporate Governance Assessment System. (3) The research will estimate the correlation between corporate governance and operating performance. The empirical results are as below: (1) After the initial assessment, EPS, ROA, and ROE are significantly negative effect, but IORDS and EPRDS are significant positive effect. (2) In the difference test of general and advance version of assessment, only debt ratio has significantly deduction. (3) In the analysis of regression, after approved by TCGA’s assessment, the TCGA’s score and the company’s establish year have significantly positive effect to the EPS; additionally, the company’s size has significantly negative effect to the EPS and ERS.