On the Efficacy of Interlocking Independent Outside Directors-the Mediating Role of Information Transparency and Disclosure

• Main Authors: Jian-Hong Lin, 林建宏
• Other Authors: Chin-Jung Luan
• Format: Others
• Language: zh-TW
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/537q22

碩士 === 國立東華大學 === 國際企業學系 === 106 === With the significance of the independent director in corporate governance field, more and more studies have been done concerning independent director to firm performance. The purpose of this study is to investigate the impact of the relationship between the degree of interlocking outside directors and the associated firm performance, and to provide meaningful implications to academic research stream and business practitioners. We incorporate the viewpoints of corporate governance into our models, and collect the data from Taiwan Economic Journal (TEJ) to test the proposed hypotheses. The research period is from 2006 to 2014, and the sample is composed of 491 firms, 2673 observations. Using Hausman test, fixed effect are applied to the models in this research. The result shows that: (1) the higher the degree of interlocking outside directors of a firm, the worse performance it has; (2) information transparency and disclosure will mediated the relationship between the degree of interlocking outside directors of a firm and its associated performance.