| Summary: | 碩士 === 逢甲大學 === 商學專業碩士在職學位學程 === 106 === This study applies the listed companies in Taiwan, excluding the financial industry, in 2014 and 2015 as research samples. The results of corporate governance evaluation issued by the Corporate Governance Center of the Taiwan Stock Exchange are appointed as the indicator for assessing corporate governance, and the personal shareholding ratio provided by the Taiwan Economic News (TEN) and the controlled director' s total seats are adopted as the proxy indicator to examine family enterprises. Furthermore, the credit risk rating evaluated by TEN is utilized as the indicator to inspect the enterprises' credit risks. We document that: Firstly, family enterprises have significantly positive correlation with credit risk rating. Secondly, credit risk rating will upgrade if a family enterprise enhances its corporate governance, indicating that a family enterprise with better corporate governance will be approved of better credit rating. Evidently, this study identifies that the government-promoted corporate governance evaluation system is indeed effective in urging enterprises to give weight to corporate governance quality and be alert against financial crises, and that the assessment renders a reference footing to financial institutions on loans.
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