| Summary: | 碩士 === 國立臺北大學 === 會計學系 === 103 === This study investigated the Financial Supervisory Committee, R.O.C.(Taiwan) in March 2014 promoted the corporate governance evaluation, a total of five integral parts for 92 questions, whether the questions can evaluate the corporate governance performance and operating ability of the domestic listed biotechnology industry.
The sample companies were taken those related to human edible industries including pharmaceutical and health food. There were 13 companies listed on the Taiwan stock exchange and 19 companies listed on the OTC securities market, excluded less than three years listed companies and other control variables, totaling 32 companies.
During the study period is ranged from 2012 to 2013, full of two fiscal years, we try to comment these companies by the current amended 92 questions of corporate governance evaluation with the publicity material of the sample companies, annual reports, records and other meeting of shareholders.
Empirical results showed that:
First, the business performance to Tobin's Q is the strain number, the five facets of corporate governance evaluation score are independent variables, and found that the evaluation of corporate governance and Tobin's Q score showing a positive trend. In line with previous literature suggests that companies focus on corporate governance, to improve business performance.
Second, the average score of corporate governance evaluation of listed on the Taiwan stock exchange is better than listed on OTC, especially information transparency and corporate social responsibility are two integral parts to this, the gap is particularly
noticeable.
Third, companies such as to enhance corporate social responsibility to help improve business performance.
Keywords: Evaluation of corporate governance, Corporate social responsibility, Tobin's Q
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