| Summary: | 碩士 === 國立東華大學 === 會計與財務碩士學位學程 === 106 === Using a sample of listed firms in Taiwan from 2013 to 2016, the present study first explores the determinant on firms announcing their voluntary adoption of director candidate nomination system. This study then investigates if the quality of director supervision quality improves on firms adopted this systems.
Empirical results reveal that firms with higher director shareholding rate and independent director ratio, and firms with higher deviations between director seats and shares control are more inclined to announce their intentions to adopt this system. Furthermore, this study uses principle component analysis to condense four measures for board supervisory quality: average board meeting attendance rate, the number of functional committees, average director training hours and director social capital. Empirical results show higher board supervisory quality on firms actually adopted such system than firms ignoring it. The results of this study have policy implications on the importance of director candidates nomination system to improve corporate governance.
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