| Summary: | 碩士 === 國立中正大學 === 企業管理學系碩士在職專班 === 105 === The main purpose of this paper is to analyze the internal structure of listed companies in TSE (Taiwan Stock Exchange), whether or not it will affect the quality of securities market transactions. This study takes four indicators, such as the internalization of the chairman, the internalization of the chief financial officer, the internalization of the supervisors and the internalization ratio of the managers, as the research variables to measure the quality of the transaction, such as bid-ask spread, market depth and volatility in order to measure the transaction quality of the proxy variable. The sample of the study is the relationship between insider structure and the transaction quality of securities market from 2003 to 2014. The paper finds that the insider structure of the company has different effects on the quality of the securities market transaction. Finally, the empirical results show that the internalization of the chairman of the board and the internalization of the supervisors would improve the quality of the securities market. Oppositely the manager's internalization of the ratio would not improve the quality of market transactions.
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