The Study on Corporate Governance and Types of Judicial Person Shareholders and Directors

• Main Authors: LU, HSUEH-CHENG, 呂學政
• Other Authors: TSAI, LIH-WEN
• Format: Others
• Language: zh-TW
• Published: 2019
• Online Access: http://ndltd.ncl.edu.tw/handle/9zpnpc

碩士 === 輔仁大學 === 會計學系碩士班 === 108 === This study examines the association between corporate governance and judicial person shareholders, judicial person directors or judicial person supervisors by using a sample of the listed companies in Taiwan from 2014 to 2018. The empirical results indicate that the company who dominated by a single family, the higher shareholding ratio of judicial person shareholders, the lower corporate governance rating. This is mainly because the company who dominated by a single family is more inclined to acquire the company's management rights through the shareholders who composed of group subsidiaries, and the corporate culture is human governing over the rule of laws, which is not good for the corporate governance. But this study also finds that the external judicial person shareholders are more independent of the ultimate controller in the company who dominated by a single family, their representatives play the role of director in the board of directors and improve the corporate governance. In contrast, the company who dominated by a non-single family, the shareholding ratio of the external judicial person shareholders was significantly negatively correlated with the corporate governance rating, but the shareholding ratio of the friendly judicial person shareholders was significantly positively correlated with the corporate governance rating. Under mutual checks and balances, this study did not find that the shareholding ratio of the judicial person shareholders as well as the seats ratio of judicial person directors or supervisors were related to the corporate governance.