This study explores whether various variables in term of director board including board size, insider dirctors, independent directors, and foreign directors would affect firm value. We use Taiwan data as our sample due to the developed counties widely explored in the relevant studies; in addition, the chareteristics of TWSE-listing firms are that almost half of listing firms are electronic firms as well as most of SMEs are family-controlled firms, which are far different from the constitution of listing firms for developed contries. The results reveal that independent dirctors would not only enhance corporate governance but also raise profits for enterprises; however, higher board size and shareholding controlled by insiders might not enhance firm value. The results imply that recruiting independent director as suggested by developed contries would matter for enterprises in Taiwan.