| Summary: | 碩士 === 元智大學 === 會計學系 === 94 === Since the Asian financial crisis in 1997, corporate governance has been the major issues concerning in the capital market in recent years. Academic literatures focus on the discussion of the association between board contexture, stock share contexture, administration style andcorporate performance.Furthermore, considering the quality of board oversight has received increasing attention in recent years. This paper investigates whether the board construction on corporate governance mechanism effectively discharge its monitoring function and mitigate central agency problem.This paper study of relationship between directors’ and supervisors’ tenures and corporate performance.
The 1791 samples are selected from the public companies listed on the Taiwan Stock Exchange Corporation from 2002 to 2004. This thesis tries to find the relationship between board contexture, stock share contexture, administration style, directors’ and supervisors’ tenures and corporate performance. The conclusions of our findings are as follows:
1. In the board contexture, the scale of the board has a
negative relation with the firm’s performance, but is
not significantly. The ratio of independent directors
has significantly positive relation with the firm’s
performance.
2. In the stock share contexture, the ratio of the stock
held by the institutions, directors and supervisors,
the managers, have significantly positive relationship
with the firm’s performance. The ratio of the stock
held by the big shareholders has a significantly
negative relation with the firm’s performance. The
Pledged Shares Ratio of Directors’ and Supervisors’
Shareholdings has a significantly negative relation
with the firm’s performance.
3. In the administration style, the board of director
concurrent general manager has a significantly negative
relation with the firm’s performance.
4. In the tenures, directors’ and supervisors’ tenures
have significantly negative relation with the firm’s
performance.
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