- 學位論文
股東提案對公司經營績效之影響-以台灣上市櫃公司為例
The Impact of Shareholder Proposal on Corporate Performance - Evidence from Taiwan Listed Companies
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摘要
本研究以2010-2012年有行使股東提案權的台灣上市(櫃)公司為研究對象，透過Tobin’s q及ROE為績效代理變數並以panel data模型進行實證研究，主要探討股東提案對公司經營績效之影響。研究結果顯示，機構投資人持股比例及董事薪酬對上市公司的經營績效為顯著負相關，公司治理指數與上櫃公司經營績效有顯著負相關，無論上市(櫃)公司，其董事會規模對公司經營績效為顯著負相關。
並列摘要
This study mainly investigates the impact of shareholder’s proposals on operation performance of companies, basing on the public listed companies of the Taiwan Stock Exchange in 2010-2012, and we use Tobin’s q and ROE as the proxy of operation performance and panel data model to conduct the empirical study. The results indicates that the ownership of the institutional investor and the directors’ compensation have the significantly negative impact on operation performance of public listed companies, and G-index has the significantly negative impact on operation performance. Regardless of the company size, the board of directors has the significantly negative impact on operation performance.
參考文獻
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