none

• Main Authors: Shu-hua Tung, 童淑華
• Other Authors: Hsin-han Shen
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/17949520510095146674

碩士 === 國立中央大學 === 財務金融學系在職專班 === 103 === Taiwan’s Financial Supervisory Commission (FSC) started the installation of independent directors since 1998. In particular, FSC has been emphasizing the value of so-called “financial expert” independent directors, who are believed to impose strict monitoring on the validity of financial statement. In this thesis, we separate the financial expert directors into several categories by the nature of their occupations: academic, bankers, government officials, and the practitioners in security, insurance, and accounting firms. We find the presence of these financial experts on board indeed lead to higher firm performance, measured by return on assets (ROA) and price-book value ratio (P/B). Overall, our evidence advocates the value of financial expert independent directors.