審計委員會特性對公司經營績效與企業風險影響之研究-以半導體產業為例

隨著國際公司治理的發展趨勢，我國逐步將公司治理概念法制化，陸續推動與落實多項公司治理措施。然而，自2016年底起，國內市場陸續爆發一連串弊案，在輿論的壓力下，主管機關始回頭檢討公司治理之落實情形，亦於2017年要求全體上市(櫃)公司完成設置獨立董事，並逐步擴大審計委員會之設置，要求揭露其行使職權情形，以強化獨立董事參與董事會並使上市(櫃)公司重視企業永續發展，以保護投資人權益、提升董事會職能及落實企業社會責任。為瞭解審計委員會特性對於企業經營績效與企業風險之影響，本研究主要是以臺灣2015年至2017年已設置審計委員會之上市(櫃)半導體公司為研究對象，比較其審計委員會特性(多元化專業背景、是否有女性成員、成員平均兼職情形三構面)對公司經營績效與企業風險之影響。盼研究結果能協助投資人依個別公司之審計委員會特性，選擇未來投資之公司，同時為企業主遴選審計委員盡一份心力。經本實證研究，有下列一些重要的發現： 1.審計委員會專業背景多元程度越高，公司經營績效越好。 2.審計委員會專業背景多元程度越高，公司企業風險越高。 3.審計委員會若有女性成員，公司經營績效會下降。 4.審計委員會若有女性成員，公司企業風險會下降。 5.成員之平均兼職數越多，公司經營績效越差。 6.成員之平均兼職數越多，公司企業風險越低。

關鍵字

審計委員會；經營績效；企業風險；多元化專業背景；半導體產業

並列摘要

Taiwan has legislated many corporate governance concepts based on the trends and developments of international corporate governance. However, there had been an explosion of fraudulent events in the domestic market since the end of 2016. In 2017, the Financial Supervisory Commission of Taiwan began to review the monitoring processes of corporate governance; in the meantime, all listed companies were requested to appoint independent directors, expand mandatory audit committee requirements gradually, disclose all duties required by law and strengthen the participation of independent directors in board meetings, and encourage listed companies to protect the rights and interests of investors, enhance the functions of the board of directors and carry out corporate social responsibility. The major purpose of this study is to identify the influence of audit committee characteristics on firm performance and integrated risk. And take the samples of companies in the semiconductor industry listed on Taiwan Stock Exchange and over the Counter from 2015 to 2017. This thesis will discuss the impact of audit committee characteristics (such as the gender of members, the diversified professional background of members, and the busyness of members.) on firm performance and integrated risk. It is expected that the results of this analysis can be used to choose the appropriate members for audit committee. Followings are some important findings in this empirical study: 1.The more the diversified professional backgrounds of audit committee, the higher the firm performance. 2.The more the diversified professional backgrounds of audit committee, the lower the integrated risk of firm. 3.The female member of audit committee is negatively correlated with firm performance. 4.The female member of audit committee is negatively correlated with integrated risk. 5.The more positions get by audit committee members, the lower the firm performance. 6.The more positions get by audit committee members, the lower the integrated risk of firm.