董監事責任保險與公司治理評鑑等級

本研究以 2016 年至 2018 年之台灣上市櫃公司為研究對象，探討投保董監事暨重要職員責任保險是否會影響其公司治理評鑑的等級。實證結果發現，有投保董監事責任保險的公司，其公司治理評鑑等級越好；董監事責任保險投保金額佔資產總額越高的公司，其公司治理評鑑等級亦越佳。另本研究以投保家數做進一步檢測，其實證結果亦顯示投保家數越多的公司，其公司治理評鑑等級也越好。整體而言，投保董監事責任保險的公司對提升公司治理評鑑等級是有顯著效果，亦表示投保董監事責任保險對公司是有重要性的，可促使公司經營管理階層審慎經營，又可於執行職務時提供適當保險的保障。

關鍵字

董監事責任保險,公司治理評鑑等級

並列摘要

This study takes Taiwan listed companies from 2016 to 2018 as the research objects and discusses whether the purchase of directors’ and officers’ （D O）liability insurance will affect the level of corporate governance evaluation. The empirical results show that companies with insured liability insurance for directors and officers have a better corporate governance rating,and the results also hold when we use companies with a higher percentage of insured amounts to total assets,as another proxy for D O insurance companies with a higher percentage of insured amounts to total assets. In addition, this study further uses the number of insured entities as on additional analysis. The empirical result also confirms that the companies with more insured entities have better corporate governance evaluation rating. Overall, companies that insure D O liability insurance have a significant effect on improving the level of corporate governance evaluation. The results report that insuring D O liability insurance is important to a company. It can prompt the company’s management to operate prudently and provide appropriate insurance protection when performing their duties.