The Study of the Relationship between Top Management Team Quality and Enterprise Value in Taiwan Bank Industry
| Autor: | Cheng-Yih Lin, 林政毅 |
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| Rok vydání: | 2007 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 95 In addition to tangible asset such as land, plants, and equipment, the value of an enterprise also includes intangible assets such as abilities to comprehend the environment, coordinate resources, develop strategies, and execute plans. While many successful enterprises emerge during Taiwan’s economic development in the last 40 years, many of them go bust abruptly. The survival and development of enterprise depend crucially on whether the Top Management Team(TMT) can grasp the ever-changing market situation and react promptly with effective decision making. This is especially the case in banking because the high risk of providing credit makes the decision of management vital in managing the quality of risky assets, improving performance by rigorous internal control, and maximizes shareholder value by increasing competitiveness. Bad management decision making in banking can easily leads to substantial lost of profit caused by exceeding the rate of default or loose internal control. The main purpose of this research is as follows: 1. Exploring the ways to evaluate the quality of TMT in Taiwanese banks. 2. Exploring ways to evaluate the Economic Added Value and reconciliation items in Taiwanese banks. 3. Understanding the relationship between the quality of TMT and the value of Taiwanese banks. We use multiple regression analysis to find out the Value Drivers of Taiwanese banks. The data mainly consists of Taiwanese banks operate during 2003 and 2005. The sources of data include TEJ, prospectus and financial statements, Central Bank of China(Taiwan) Banking Sector Statistics, and the Overview of Banking Sector published by Financial Supervisory Commission, Executive Yuam. The empirical results are summarized as follows: 1. The quality of TMT measured by the stability of strategy, reaction to economic down turn, and professional ability has good explanatory power for the value of Taiwanese banks. 2. The quality of TMT measured by the general and professional education of the managers has bad explanatory power for the value of Taiwanese banks. 3. Value drivers, especially the Tax Rate(TR) and Competitive Advantage Period(CAP), have significant impact on the value of Taiwanese banks. 4. Considering the Value Drivers makes the relationship between the quality of TMT and the value of Taiwanese banks more significant. Key Word：Top Management Team(TMT)、Quality of Management、Economic Value Added(EVA)、Value Drivers、Economic Depreciation |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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