股權結構與董事會組成關係之研:以電腦週邊設備業為例

The Study of Relationship between Ownership Structure and Board Composition: A case of Computer and Peripheral Equipment Industry

楊琇雯(HSIU-WEN YANG)

指導教授 ： 謝錦堂 ； 詹毓玲

國立臺北大學/商學院/企業管理學系/碩士(2016年)

摘要

自1997年亞洲金融危機發生以來，各國莫不致力於推動公司治理。近年來，金管會為使各企業認知到公司治理的重要性，遂將公司治理評鑑制度及評鑑結果視為上市上櫃公司治理成效的展現，讓公司資訊透明化，期許企業能善盡企業責任並達到永續經營的目標。

　　公司治理機制的核心為對股東會及董事會的規範，董事會是公司最高決策單位，而董事成員係經由股東會選任出來，然而，在股權結構中，投資者因身分背景差異，對公司治理要求也可能不同，因而偏向尋找到能夠滿足其需求的人組成董事會，為其策略目的行使權力，進一步對公司經營及治理模式產生影響，因此，公司股權結構可能會影響董事會的組成特性。董事會對企業有監督管理及健全組織運作之責，在股東與經營者存在代理關係之情形下。董事會為防範公司營運弊端，最後維護股東利益的防火線。

　　本研究以107家電腦與週邊設備業上市上櫃公司之股權結構及董事會成員資料為分析依據探討股權結構如何影響董事會組成，再以迴歸分析驗證股權結構與董事會組成之關係。研究結果顯示，不同背景之股東結構確實會影響董事會組成。因此，本研究果結希望能讓企業經營者在策略方向制定時將此影響列入考量因素之參考，以健全公司治理達到股東與企業雙贏的目標。

關鍵字

公司治理 ； 股權結構 ； 董事會組成

並列摘要

Since the 1997 Asian financial crisis, most of the nations efforts to promote corporate governance. In recent years, the Financial Supervisory Commission (FSC) considers corporate governance evaluation system and the evaluation result is the performance of corporate governance to enable enterprises cognitive the importance of corporate governance, so as to enhance information transparency of companies, improve corporate responsibility and achieve sustainable development.

　　The core of corporate governance is to regulate the shareholders meetings and the board of directors, the Board is the company's highest decision-making unit, and the board members are elected by shareholders. However, different backgrounds of investors with different requirements for corporate governance, thus tend to find directors who can be satisfied with the exercise of power for policy purposes, even more impact on the company's operations and corporate governance, therefore, ownership structure may affect the properties of the composition of the board.The responsibilities of the Board is to supervise and improve the operation of the enterprise, agency relationship between shareholders and managers make the board as a last line of defense to prevent company malpractice and safeguard the interests of shareholders.

　　This study examines the relation of ownership structure and board composition of 107 computers and peripheral equipment industry firms listed on the stock exchange market in Taiwan. We use regression analysis to verify the impact of relationship between ownership structure and composition of the Board of Directors. The results showed that the ownership structure does affect the composition of the board, therefore, we hope the results of this study provide a reference for managers in decision-making, in order to sound corporate governance.

並列關鍵字

Corporate governance ； Composition of shareholders ； Construction of Board Members

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