Corporate Governance and Capability to Secure External Shocks An Event of Tourist Industry in Taiwan

• Main Authors: Wei-Lun Wu, 吳芛綸
• Other Authors: 賈昭南
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/jxtjwd

碩士 === 淡江大學 === 國際商學碩士在職專班 === 101 === This thesis applies the event study method to analysis the impacts and subsequent adjustments of the operating incomes of 8 firms of the tourist industry in Taiwan within the 8 event periods after the adverse effects of the 2008 U.S. subprime financial crisis. Performances of individual firms are analysis first. Sample forms are divided into two groups based on the four shareholding structures and performances are compared next. Empirical studies have shown that firms whose operating incomes were falling before of immediately after the crisis performed better than predictions while firms whose operating incomes were rising in the associated period performed worse than predications. The group of firms with higher proportions of shares held by board members outperformed the rest of the four shareholding structures.