公司資訊揭露的目的是確保股東及其他利害關係人可以獲得攸關資訊,以做出適當的決策。強化公司資訊透明度,建立正確、即時且符合成本效益的資訊揭露管道,是政府推動公司治理改革的重要一環。而網際網路帶來的便利性與時效性,使得公司網站成為公司與投資人間即時傳遞訊息的溝通管道。 本研究旨在探討控制權與現金流量權偏離程度、家族企業與企業網站資訊揭露水準之關聯,以2010年上市(櫃)公司為研究樣本,進行迴歸分析。實證結果發現,控制權與現金流量權的偏離程度與企業網站資訊揭露水準呈負向顯著關係,顯示控制股東的偏離程度越大時,企業網站資訊揭露水準愈低。而家族企業對於企業網站資訊揭露政策之影響則未獲得實證支持。
The purpose of information disclosure is to ensure that shareholders and other stakeholders can obtain relevant information to make appropriate decisions. For the government, to enhance the transparency of information and establish disclosure channels providing correct, immediate and cost-effective information is an important part of corporate governance reform. The convenience and timeliness of the Internet enables corporate website to serve as an instant communication channel between companies and investors. This study aims to investigate information disclosure on corporate websites and explore its relationship with the separation of control rights and cash-flow rights, as well as its relationship with family firms. We use publicly traded Taiwanese companies in 2010 as samples to run regression analysis and verify our hypotheses. The empirical results show that a significant negative relationship between information disclosure on corporate websites and the separation of control rights and cash-flow rights. The results imply that the greater the separation of controlling shareholders is, the lower the information disclosure on corporate websites will be. However, the association between family firms and information disclosure on corporate websites is not verified.