我國公營事業民營化後其公司治理與風險之關聯性及對績效之影響

張耀中

doi:10.6846/TKU.2008.00743

54.236.62.49，Hello！

Close
Search Quick Search Advanced Search Publication Search	Personal Service Member Login Searching History Use Bonus Card SYMSKAN
Browse Browse by University of Graduate Thesis Browse by Pinyin of Graduate Thesis Browse by Conference Proceedings Topic Browse by Conference Proceedings Publisher Browse by Pinyin of Conference Proceedings Browse by eBook Category Browse by eBook Topic Browse by eBook Publisher
Customer Services Authorize Airiti Recommend a Journal

Search Symbol (Half-width)	Description of Search Symbols
Space	"AND" indicates the intertwining of key terms used in a search
Double Quotation Marks ("") ( " " )	Double quotation marks indicate the beginning and end of a phrase, and the search will only include terms that appear in the same order of those within the quotations. Example: "image process" ： " image process "
?	Indicates a variable letter. Entering two ? will indicate two variable letters, and so on. Example: "Appl?", search results will yield apple, apply… e , appl y … ( (often used to English word searches) )
*	Indicates an unlimited number of variable letters to follow, from 1~n. Example: Enter "appl*", search results will yield apple, apples, apply, applied, application…(often used in English word searches) e , appl es , appl y , appl ied , appl ication … ( (often used to English word searches) )
AND、OR、NOT	Boolean logic combinations of key words is a skill used to expand or refine search parameters. (1) AND (1) AND: Refines search parameters (2) OR (2) OR: Expands search parameters (3) NOT: Excludes irrelevant parameters

DOI stands for Digital Object Identifier （ D igital O bject I dentifier ） ,
and is the unique identifier for objects on the internet. It can be used to create persistent link and to cite articles.

Using DOI as a persistent link

To create a persistent link, add「http://dx.doi.org/」「 http://dx.doi.org/ 」 before a DOI.
For instance, if the DOI of an article is 10.5297/ser.1201.002 , you can link persistently to the article by entering the following link in your browser: http://dx.doi.org/ 10.5297/ser.1201.002 。
The DOI link will always direct you to the most updated article page no matter how the publisher changes the document's position, avoiding errors when engaging in important research.

Cite a document with DOI

When citing references, you should also cite the DOI if the article has one. If your citation guideline does not include DOIs, you may cite the DOI link.

DOIs allow accurate citations, improve academic contents connections, and allow users to gain better experience across different platforms. Currently, there are more than 70 million DOIs registered for academic contents. If you want to understand more about DOI, please visit airiti DOI Registration （ doi.airiti.com ）。

Data Source

College of Management > In-service Master's Program, Department of Accounting
Social Sciences > Finance & Accounting

Bibliography Management Tool

Related Links

Report an Issue

Purchase Single Articles

Download PDF

我國公營事業民營化後其公司治理與風險之關聯性及對績效之影響

The Association between Corporate Governance and Risk of Privatization of State-owned Enterprises and Their Impact on Performance in Taiwan

張耀中 , Masters　　Advisor：葉金成　　

繁體中文 DOI： 10.6846/TKU.2008.00743

公司治理；風險；績效； Corporate Governance ； Risk ； Performance

Abstract │ Reference (121) │ Times Cited (3) │ Altmetrics

Abstract 〈TOP〉

Parallel Abstract 〈TOP〉

Several publicly-owned enterprises in Taiwan had suffered from a bad reputation since the privatization realized. People questioned the corporation governance and risk of the privatized state-owned business including Sinofert Holdings Limited, China Petrochemical Development Corporation, Taiwan Fertilizer Co., Ltd., and TDTC. The listed companies in Taiwan from 2002 to 2006 are sampled for this study to explore the association between corporate governance and risk of the privatized state-owned enterprises and the impact on their performance.
The empirical results show that (1) There is not a significant positive relation between corporate governance and risk in Taiwan’s privatized companies. This indicates that in pursuit of return, privatized companies often overlook the risk of their own. (2) There is a positive relation between corporation governance and performance of the privatized state-owned enterprises. The privatized company with better corporation governance is with better EPS comparing to EBIT or ROE. (3) If privatized company fails to control the opportunities resulted from high risk, there is a negative relation between risk and performance; therefore, the remains room for improvement in risk management. (4) If privatized company fails to manage the opportunities effectively, the positive influence of corporation governance on performance could be affected negatively.
While considering corporation governance and risk and applying the interaction of corporation governance and risk the results show: There is a positive relation between corporation governance and performance; however, there is a negative relation between corporation governance and risk; moreover, there is negative relation between corporation governance and the interaction of risk and performance. The company with better corporation governance is with better performance; moreover, the company and investors faces less risk; however, the “high risk to high return” effect will not surface. Therefore, privatized company is suggested to reinforce corporation governance while in the pursuit of performance, especially, the company must manage the opportunities resulted from taking the risk in order to realize the “high risk to high return” investment management principles.

Reference ( 121 ) 〈TOP〉

王維康與牛明山，2004，以公司治理觀點探討國營事業之經營績效－積極進行體質改革，配合構面循步策進，會計研究月刊，第223期：86-98。
連結：
李儀坤、張捷昌、黃建森，2000，金融風險管理，台北：華泰文化事業股份有限公司。
連結：
林宗輝，2004，公司治理與企業績效關聯性，國立臺灣大學會計學研究所未出版之碩士論文。
連結：
洪榮華、陳香如、王玉珍，2005，公司內部治理機制與公司績效之關係—股權結構與董事會特性，輔仁管理評論，第12卷第3期：23-40。
連結：
陳隆麒，2004，當代財務管理（頁429），台北：華泰文化事業股份有限公司。
連結：

Times Cited (3) 〈TOP〉

Altmetrics

〈TOP〉

E-mail ：

When an article is available to download, a notice will be sent to your mailbox address.

E-mail ：