董事會結構及經理人特質對公司績效的影響-以台灣通訊網路業為例

An Empirical Study of the Relationship among Ownership Structure of Board and Insider Characteristic - Evidence from Taiwan IT Industries.

林坤裕(Kun Yu Lin)

指導教授 ： 洪育忠

國立中正大學/管理學院/會計與資訊科技學系/碩士(2015年)

摘要

台灣近年來歷經二次的金融改革與全球金融次級房貸風暴等重大事件，使全球與台灣之市場環境發生重大的變化，一連串的金融海嘯引起公司治理議題的熱列討論。故本文欲探討董事會結構及經理人特質對公司績效的影響，並以台灣通訊網路業為例，以公司內部治理為出發點，探討董事會與經理人間相互制衡對公司績效的影響，檢視台灣通訊網路業的整體績效。研究期間為2008年至2012年，金融海嘯後5年。本研究結果發現，董事會規模、董事平均薪酬、法人持股比例、董事兼任經理人數、內部人任期及經理人教育程度(博、碩、學士) 與公司績效呈現正相關；董事會持股比例、獨立董事佔董事比例及經理人教育程度(高中職及其他)與公司績效呈現負相關。根據上述結果，可透過董事會結構及經理人特質之改善強化公司績效。
關鍵詞：金融海嘯、公司治理、董事會結構、經理人特質、公司績效

關鍵字

經理人特質 ； 董事會結構 ； 公司治理 ； 金融海嘯 ； 公司績效

並列摘要

Taiwan recently has undergone serious events, including financial reforms and the global financial crisis. These two events made both global and Taiwanese financial market environment changed significantly. A series of financial tsunamis cause ardently discussion about the issue of corporate governance. Thus, this study aims to investigate the relationship among the ownership structure of board and the insider characteristic, and takes Taiwan IT industries for example, beginning with the internal corporate governance, researching the effect of the checks and balances between the board of directors and the manager to company performance, surveying the whole performance of Taiwan IT industries. The researching period is from 2008 to 2012, five years after the financial tsunami. The result of this study is that the scale of the board of directors, the average salaries of the directors, the ratio of corporate shareholding, the number of the directors serving as manager, the term of office of the insider and the educational level of the manager present positive correlation with company performance. The ratio of the board of directors, the ratio of the independent directors in the board of directors and the educational level of the manager (senior high school, vocational school and others) present negative correlation with company performance. According to the results above, the company performance can be enhanced by the ownership structure of board and insider characteristic.

並列關鍵字

insider characteristic ； corporate governance ； financial tsunami ； company performance

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