The Impact of the Top 10 Shareholder-stakeholders on Firm Value

• Main Authors: Wan-Lin Ma, 麻琬琳
• Other Authors: Yen-Sen Ni
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/xpwef6

碩士 === 淡江大學 === 管理科學學系企業經營碩士在職專班 === 103 === This study explores whether the firms with close relationship among top ten shareholders would have higher firm values. By employing the firms listed in Taiwan Stock Exchange over the period 2010-2013, we reveal several important findings as shown below. First, the firms with higher close relationships among top ten shareholders might not enhance firm value. Second, the firms with higher top ten shareholders ratio would not have higher firm value. Third, the firms disclosing the relationship among top ten shareholders, on the contrary, weaken firm value.