The Impact of setting up Independent Directors on Board Characteristics
| Autor: | Bei-Wun Chou, 周蓓雯 |
|---|---|
| Rok vydání: | 2016 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 104 Independent directors which can improve the monitoring mechanism play an important role in corporate finance. In 2006, government required corporations to set up the independent directors. However, this thesis finds that few companies needed to comply with the law, but they did not. Therefore, the paper wants to study what kind of characteristics of companies do not comply with the law of independent directors. In this paper, we study the 7179 listed companies from 2006 to 2014 and about 143 companies did not comply with law. First of all, we verify whether the companies which abide by the law and the companies which do not are different. Furthermore, this paper uses the logit regression to test what kind of characteristics of companies do not comply with. Then, we find that the return on assets of company is higher, and the probability of setting independent directors is lower. The company is more concentrated on ownership, and they did not follow the law. Transparency of information is better, and the probability of setting independent directors is lower, too. Finally, we examine whether setting up enough independent directors can improve corporate performance and does the result demonstrates that their relationship is positive, and if setting up the independent directors by the government is necessary. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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