| Summary: | 碩士 === 國立臺中科技大學 === 會計資訊系碩士班 === 107 === This study investigates the effect of financial restatement severity, family chairman and shareholding of institutional investors on turnover of board family member for financial restatement family firm. We use a sample of financial restatement firms with accounting irregularity from year 2005 to 2015. We excluded non-family companies, and obtained a total of 103 sample firms. We used Logistic regression to examine the research hypotheses. We find that there were no significant relationship between financial restatement severity, measured by fraud and downward income adjustments, and board family member turnover. The family chairman is identified by the family members who are second-degree relatives in annual report. The empirical evidence shows that family chairman is positively related to board family member turnover. However, if we use chairman internalization as a measure of family chairman, there is no significant relationship. Finally, we use institutional ownership as a measure of institutional investors, the empirical evidence shows that institutional investors are negative related to the board family member turnover.
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