The Effect of Large Shareholders Shareholding Relative Proportion to Firms Performance in Taiwan
| Autor: | CHANG, JUNG-TZU, 張容慈 |
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| Rok vydání: | 2017 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 105 The main purpose of this study is to examine the effect of large shareholders shareholding relative proportion, the same type of major shareholders, and the second largest shareholder shareholding to firms performance in Taiwan. The sample period runs from 2006 to 2015 of Taiwan’s listed firms (excluding the financial industry). Using Tobin^' s Q and M/B to measure firm performance respectively. This study collects a panel data set. The empirical results from the fixed effect model show that: First, four kinds of shareholders relative scale variable are all negative impact to firm performance. Second, if the type of the first largest shareholder is the same as the second largest shareholder will also have negative impact to firm performance. Third, when the second largest shareholder shareholding is less than 3%, it have positive impact to firm performance, but when the second largest shareholder shareholding is over 3-5%, will begins to have a negative impact to firm performance. Indicating that the higher proportion of second largest shareholder shareholding in Taiwan listed companies, will lead to lower firm performance. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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