The Impact of Corporate Governance on Business Diversification
碩士 === 國立成功大學 === 會計學系碩博士班 === 93 === Diversification becomes more and more popular in market. Although that not every diverse firm gets the benefit from it. According to the explanation by agency theory, we intend to examine the impacts of corporate governance on the magnitude of diversification....
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| Format: | Others |
| Language: | en_US |
| Published: |
2005
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| Online Access: | http://ndltd.ncl.edu.tw/handle/30709655848445440203 |
| Summary: | 碩士 === 國立成功大學 === 會計學系碩博士班 === 93 === Diversification becomes more and more popular in market. Although that not every diverse firm gets the benefit from it. According to the explanation by agency theory, we intend to examine the impacts of corporate governance on the magnitude of diversification. We want to know what kind of governance structure would enhance the magnitude of diversification. Our result shows that CEO option grants and the structure of board of directors are significantly related to the magnitude of business diversification. In addition, the sensitivity of diversification to explanatory variables is further examined. The change of CEO option grants and cash compensation would increase the change of diversification. Finally, we would like to discuss the influence of economic changes on the business diversification. We have examined the sensitivity of diversification to the explanatory variables for the samples before year 2000 and after year 2000. The impact of governance variables on the change of diversification is different between the two groups of samples.
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