The Influence of Corporate Governance on Firm Performance: Evidence from Taiwan

• Main Authors: OU,MI-LING, 歐米玲
• Other Authors: YU,XIAO-JING
• Format: Others
• Language: en_US
• Published: 2016
• Online Access: http://ndltd.ncl.edu.tw/handle/t922jj

碩士 === 國立中正大學 === 財務金融系研究所 === 104 === Can corporate performance and value of the company be improved by appointment of outside directors? How corporate governance and ownership make influence to firm performance? The answer to these questions may vary from company to company or country to country. However, in this research we will try to answer for that question for Taiwanese companies. We consider of corporate governance for listed companies in Taiwan Stock Exchange and Taipei Exchange (Gre Tai Securities Market) during the period 2000- 2015. Given the passage of Independent Directors System during 2006, we will study how corporate governance performance might have been impacted by this regulation. Our empirical results show that, in contrast to studies in U.S and U.K firms the effects of independent directors on firm performance is positive. Board independents has a significant and positive effect on firm performance in our study on Taiwanese firms. We also find that firm performance is positively related to institutional ownership. Additionally, we observe that the separation between chairman and CEO associated with firm performance. In contrast, our evidence points out that board size are negatively associated with firm performance.