董事連結與公司治理評鑑系統

Board Interlocked and Corporate Governance Evaluation System

彭子毓(Zih-Yu Peng)

指導教授 ： 廖益興

中原大學/商學院/會計研究所/碩士(2019年)

https://doi.org/10.6840/cycu201900412

摘要

摘要
　　本研究探討我國上市櫃公司之董事連結對公司治理評鑑系統的關聯性，研究期間及研究對象為2014年至2017年之台灣受評鑑上市櫃公司。公司治理評鑑等級以證基會公布之評鑑結果，採量化（SCORE）方式分為1分至7分，分數越高，表示公司治理評鑑等級越好。董事連結以兩種方式衡量：（1）虛擬變數（DUMMY），具有董事連結之受評鑑公司為1，否則為0。（2）董事連結衡量方式為董事連結之人數比率，按其該公司具有董事連結之董監事人數除以總董監事人數。
　　ordered probit迴歸模型之實證結果顯示，董事連結對公司治理評鑑等級呈現正向顯著關係；換句話說，本研究結果表示具有董事連結的公司，其公司治理評鑑等級較好，亦可說明報導公司可透過董事連結，帶回良好的公司治理效應，以提升公司治理品質。

關鍵字

公司治理評鑑系統 ； 董事連結 ； 代理問題

並列摘要

Abstract
　　This study examines the effect of the board interlocked on the corporate governance evaluation system. The research covers samples of the listed and over-the-counter companies in Taiwan from 2014 to 2017. The corporate governance evaluation rating is based on the results of the evaluation published by Securities & Futures Institute. Such rating is divided into 1 to 7. Higher score means that corporate governance evaluation rating is better. The measurement of board interlocked is assessed by two ways：(1)DUMMY, if the company with the board interlocked, then it equals one and zero otherwise. (2)The measurement of board interlocked is the ratio of the board interlocked measured by the number of directors and supervisors of the company with the board interlocked divided by the number of directors and supervisors
Using the ordered probit regression model, the empirical results show the significantly and positively relationship between the corporate governance evaluation rating and the board interlocked. In other words, the study indicates the company with the board interlocked, the corporate governance evaluation grade is better. It can also be explained that the reporting company can bring good corporate governance effects through the board interlocked back it to increase the quality of corporate governance.

並列關鍵字

corporate governance evaluation system ； board interlocked ； agency problem

參考文獻

Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of financial economics, 3(4), 305-360.

中文文獻

丁立平. (2003). 公司治理, 會計資訊與公司價值關係之研究, 台灣大學會計研究所碩士論文.

周建宏. (2002). 經營者與投資者雙贏 完整性與有用性兼具 提高資訊透明度以因應全球化的資本市場. 會計研究月刊, (200), 78-86.

林俊傑, 劉梧柏, & 黃華瑋. (2017). 公司治理評鑑與財務績效及公司價值之關聯性探討: 以台灣上市櫃企業公司治理評鑑為例(Doctoral dissertation, National Cheng Kung University Executive Master of Business Administration (EMBA)).