Directors and Officers Liability Insurance in the Corporate Governance Role and the Relationship with Auditor Opinions
博士 === 逢甲大學 === 商學研究所 === 100 === This paper uses corporate governance characteristics as well as auditor traits to analyze the impact of the purchase of directors’ and officers’ liability insurance (D&O insurance). The results indicate that corporate governance affects the demand for D&O in...
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ndltd-TW-100FCU053180032015-10-13T21:27:32Z http://ndltd.ncl.edu.tw/handle/91074688908845436876 Directors and Officers Liability Insurance in the Corporate Governance Role and the Relationship with Auditor Opinions 董事監察人責任保險在公司治理角色及與會計師審計意見之關係 Shu-Lin Lin 林淑玲 博士 逢甲大學 商學研究所 100 This paper uses corporate governance characteristics as well as auditor traits to analyze the impact of the purchase of directors’ and officers’ liability insurance (D&O insurance). The results indicate that corporate governance affects the demand for D&O insurance; in particular, the pledged shares and insufficient shareholdings of directors and supervisors are significantly positively correlated to insurance demand and negative audit opinions. Companies without insurance have better corporate governance mechanisms compared to those with insurance. Although the corporate governance of companies with insurance is comparatively weaker, these companies compensate for the inadequacy of their governance mechanisms by inviting industrial specialists and Big 4 firms. The empirical results suggest that D&O insurance can strengthen external governance. Meanwhile, auditors will provide better evaluations of the financial statements prepared by companies with D&O insurance. In other words, D&O insurance has supervision effects on management and substitute effects on industrial experts. Hsiangtsai Chiang 江向才 2012 學位論文 ; thesis 80 en_US |
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博士 === 逢甲大學 === 商學研究所 === 100 === This paper uses corporate governance characteristics as well as auditor traits to analyze the impact of the purchase of directors’ and officers’ liability insurance (D&O insurance). The results indicate that corporate governance affects the demand for D&O insurance; in particular, the pledged shares and insufficient shareholdings of directors and supervisors are significantly positively correlated to insurance demand and negative audit opinions. Companies without insurance have better corporate governance mechanisms compared to those with insurance. Although the corporate governance of companies with insurance is comparatively weaker, these companies compensate for the inadequacy of their governance mechanisms by inviting industrial specialists and Big 4 firms. The empirical results suggest that D&O insurance can strengthen external governance. Meanwhile, auditors will provide better evaluations of the financial statements prepared by companies with D&O insurance. In other words, D&O insurance has supervision effects on management and substitute effects on industrial experts.
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author2 |
Hsiangtsai Chiang |
author_facet |
Hsiangtsai Chiang Shu-Lin Lin 林淑玲 |
author |
Shu-Lin Lin 林淑玲 |
spellingShingle |
Shu-Lin Lin 林淑玲 Directors and Officers Liability Insurance in the Corporate Governance Role and the Relationship with Auditor Opinions |
author_sort |
Shu-Lin Lin |
title |
Directors and Officers Liability Insurance in the Corporate Governance Role and the Relationship with Auditor Opinions |
title_short |
Directors and Officers Liability Insurance in the Corporate Governance Role and the Relationship with Auditor Opinions |
title_full |
Directors and Officers Liability Insurance in the Corporate Governance Role and the Relationship with Auditor Opinions |
title_fullStr |
Directors and Officers Liability Insurance in the Corporate Governance Role and the Relationship with Auditor Opinions |
title_full_unstemmed |
Directors and Officers Liability Insurance in the Corporate Governance Role and the Relationship with Auditor Opinions |
title_sort |
directors and officers liability insurance in the corporate governance role and the relationship with auditor opinions |
publishDate |
2012 |
url |
http://ndltd.ncl.edu.tw/handle/91074688908845436876 |
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