The Impact of Corporate Governance and Audit Committee on Directors’ and Officers’Liability Insurance

• Main Authors: SU,KUAN, 蘇寬
• Other Authors: Chang, Chun-Po
• Format: Others
• Language: zh-TW
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/8f282h

碩士 === 大葉大學 === 管理學院碩士在職專班 === 106 === We test the relationship between corporate governance and Directors’ and Officers’ (D&O) Insurance, our sample includes all firms listed in Taiwan Stock Exchange (TWSE) in 2008-2015. First, our empirical result shows that the percentage of seats of independent director, audit committee, board size, managers’ shareholding, and institutions’ shareholding are significant positive relate to D&O insurance requirement, but directors’ shareholding has significant negative relation. For the characteristic of firm, companies with low leverage and low ROA intend to insure D&O, and so do the corporations with big size. Later we investigated the amount of D&O firm insured, and we find that the amount of D&O increased with audit committee significantly, but decreased with duality and high compensation payable to directors. For the characteristic of firm companies with low leverage and low ROA intend to raise amount of D&O, and so do the corporations with big size.