The Impact of CEO Power and Corporate Governance on Trade Credit
| Autor: | Ting-kuan Lin, 林庭寬 |
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| Rok vydání: | 2013 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 101 CEOs are decision maker on major financial issues in corporate, so their attitude on maintaining creditors’ rights will influence the volume of usage on trade credit in corporate. This study focuses on the influence of CEO power and the use of accounts payable and accounts receivable on trade credit. CEO power is categorized into four indicators as follows: structural power, ownership power, expert power, and prestige power. Moreover, this study will investigate into the influence of different types of corporate governance on trade credit. Compared with foreign enterprise, Taiwan’s corporate tends to have higher percentage on single family governance. Therefore, we classify the CEO, based on the categories on corporate governance in Taiwan Economic Journal, into association, manager, government, and family Taking Taiwan’s listing and OTC companies from 2005 through 2011 as our data sample in this study, we categorize CEO power into four indicators, and then discuss the four kinds of corporate governance, and analyze indicators of CEO power in the end. The results suggest that different indicators of CEO power will have different impact on corporate final trade credit, and corporate will eventually either reduce the cost of financing or increase stockholder’s profit by trade credit. Also, it can be done to enhance corporate revenue and earnings by trade credit. To sum up, CEO’s attitude will affect not only the strategies on corporate trade credit, but also the cost control and the maintenance on creditor relation, and so on. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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