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博碩士論文 etd-0614114-161544 詳細資訊
Title page for etd-0614114-161544
論文名稱
Title
公司治理、內控缺失與經營績效關聯性之探討 -以上市上櫃公司為例
The Relationship between Corporate Governance, Internal Contrrol Weaknesses and Performance -The Case of Taiwan’s Listed Companies
系所名稱
Department
畢業學年期
Year, semester
語文別
Language
學位類別
Degree
頁數
Number of pages
178
研究生
Author
指導教授
Advisor
召集委員
Convenor
口試委員
Advisory Committee
口試日期
Date of Exam
2014-06-25
繳交日期
Date of Submission
2014-07-14
關鍵字
Keywords
內控缺失、公司治理、經營績效、企業社會責任
Performance, Corporate Governance, Internal Contrrol Weaknesses, Corporate Social Responsibility
統計
Statistics
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The thesis/dissertation has been browsed 5685 times, has been downloaded 1 times.
中文摘要
本研究以2011至2013年台灣之上市櫃公司為研究樣本,取得樣本數為4146個觀測值。由公司治理的角度,以股權結構、董監事組成、關係人交易及企業社會責任四大構面共十六項自變數,利用迴歸統計方法,探討公司治理與經營績效的關聯性,研究結果發現:
1、 外資持股比率與經營績效呈顯著正相關。
2、 經理人持股比率與經營績效呈顯著正相關。
3、 控制股東透過金字塔結構、交叉持股取得控制權與經營績效呈顯著負相關。
本研究進一步以內控缺失為調節變數,探討內控缺失對公司治理及經營績效之關聯性是否產生調節效果。研究結果發現:
1、 內控缺失對大股東持股比率與經營績效ROE之調節效果呈顯著負相關。
2、 內控缺失對盈餘股份偏離比與經營績效ROA之調節效果呈顯著負相關。
3、 內控缺失對最終控制股東成員擔任董監事席次比率與經營績效ROA之調節效果呈顯著負相關。
4、 內控缺失對外部董事席次比率與經營績效ROA及Tobin'sQ之調節效果呈顯著負相關。
Abstract
The study samples are totally 4146 companies listed in Taiwan Stock Exchange Corporation from 2011 to 2013, but excluding banks and insurance companies.In this study, we used four dimensions and sixteen independent variables, and we used the regression equation statistical methods to find out the relationship between corporate governance and operating performance. The corporate governance variables include shareholding structure ,composed of directors and supervisors, related party transactions and corporate social responsibility. The empirical results show that:
1.The ratio of foreign ownership and operating performance was positively correlated and significant.
2.The ratio of managerial ownership and operating performance was positively correlated and significant.
3.The ultimate controlling shareholder gain the controlling rights by pyramid structures & cross-shareholdings and operating performance was negative correlated and significant.

In this study ,we further used the internal contrrol weaknesses as the moderator variable to explore the moderating effect between corporate governance and operating performance. The empirical results show that:
1.The moderator effect of internal contrrol weaknesses has negative correlated and significant between blockholder shareholding ratio and ROE.
2.The moderator effect of internal contrrol weaknesses has negative correlated and significant between earnings shares deviation ratio and ROA.
3.The moderator effect of internal contrrol weaknesses has negative correlated and significant between proportion of directors and supervisors owned by controlling shareholder ratio and ROA.
4.The moderator effect of internal contrrol weaknesses has negative correlated and significant between outside directors seat ratio and ROA.
5.The moderator effect of internal contrrol weaknesses has negative correlated and significant between outside directors seat ratio and Tobin's Q.
目次 Table of Contents
第一章 緒論
第一節 研究背景與動機 1
第二節 研究目的 2
第三節 研究流程 3
第二章 法規及文獻探討
第一節 內部控制制度演進及定義 4
第二節 公司治理理論演進及定義 21
第三節 公司治理及經營績效之關聯性 8
第四節 內部控制與公司治理及經營績效之關聯性 50
第三章 研究方法
第一節 研究範圍與資料來源 57
第二節 研究架構與研究方法 59
第三節 研究模型與變數定義 62
第四章 實證結果與分析
第一節 敘述統計分析 71
第二節 相關性及共線性分析 85
第三節 迴歸分析 88
第五章 結論與建議
第一節 研究結論 116
第二節 後續研究建議 28
中文參考文獻 129
英文參考文獻 134
網站及網頁資料 144
附錄 145
參考文獻 References
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