Influence Factors of Directors and Officers LiabilityInsurance : Ownership Structure and Personnel Changes

• Main Authors: Hui-Ling Lin, 林惠玲
• Other Authors: Ching-Hsiang Lin
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/40748354047281127284

碩士 === 國立高雄第一科技大學 === 財務管理所 === 98 === In response to the financial scandals of firms such as Enron and Procomp, induce investors to be concerned about corporate governance and financial reporting quality. The board members and managers face increasing litigation risks, which can be mitigated by purchasing Directors and Officers Liability Insurance. This study examines the effects of ownership structure and personnel changes on Directors and Officers Liability Insurance. The empirical results show that: 1) Managerial stock ownership, foreign investment institutional ownership, auditor changes and manager changes have positive impact on the D&O insurance. 2) The ownership of directors and major shareholders has negative impact on the D&O insurance.