| Summary: | 碩士 === 雲林科技大學 === 財務金融系碩士班 === 97 === The study is to examine the impact of ownership structure, earning manipulation, size, and R&D expenditure on companies with differential corporate performance (different quantile ). The sample employed includes data of the TSE-listed companies for the period of 2003-2007. Because of using cross-section and time-series data, this study uses panel data and applies fixed effects and quantile regression model to the panel data. We categorize corporate performance into seven quantile. The seven different quantile represents different levels of corporate performance. We examine the effect of ownership structure, earning manipulation, size, and R&D expenditure on the seven different quantile. The results indicate the following: firstly, ratio of shares of directors and supervisors has significant positive impact on corporate performance when corporate performance is middle or within middle and good. Secondly, ratio of mortgaged/pledged shares of directors and supervisors has no significant impact on corporate performance regardless of corporate performance. Thirdly, earning manipulation has significant positive impact on corporate performance whether corporate performance is good or bad; furthermore, earning manipulation has bigger impact on corporate performance when the corporate performance is classified good and bad than on corporate performance when the corporate performance is median. Fourthly, size has significant positive impact on corporate performance whether corporate performance is good or bad. And size has bigger impact on corporate performance when the corporate performance is good and bad than on median corporate performance. Finally, R&D expenditure has significant negative impact on current-year corporate performance, except for companies with performance extremely good or bad, but it has positive effect on next year’s performance.
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