Ownership Structure, Operating Expenses andBusiness Performance: Evidence of Automobile Companies
| Autor: | Ching-Ping Wang, 鍾弦晉 |
|---|---|
| Rok vydání: | 2018 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 106 This paper aimed at studying corporate governance and ownership structure in the auto industry, and the IPO auto companies of auto industry in Taiwan area in the period from 2008 to 2016 was used as the research target; meanwhile, the dependent variables were auto sale amount in each quarter, ROA, ROE and earnings per share, and corresponding independent variables were ownership structure, business operating expense and total value of asset; independent variables included: stockholding of directors and supervisors, equity pledge ratio of directors and supervisors, shareholding ratio of major shareholder, business operating expense and total value of asset. The research result showed that, the higher the business operating expense, the higher the ROA of auto company, therefore, hypothesis H4 was supported; the higher the shareholding ratio of directors and supervisors, the worse the ROA, therefore, hypothesis H2 was supported; the higher the equity pledge ratio of directors and supervisors, the worse the ROA, therefore, hypothesis H3 was supported; the higher the business operating expense, the higher the ROE, therefore, hypothesis H1 was supported; the higher the directors and supervisors proportion, the worse the ROE, therefore, hypothesis H2 was supported; the higher the equity pledge ratio of directors and supervisors, the worse the ROE, therefore, hypothesis H3 was supported; the higher the business operating expense, the higher the EPS of the auto company, therefore, hypothesis H4 was supported; the higher the shareholding ratio of directors and supervisors, the worse the EPS, therefore, hypothesis H2 was supported; the higher the shareholding ratio of directors and supervisors, the worse the EPS, therefore, hypothesis H3 was supported; the higher the shareholding ratio of directors and supervisors, the worse the sale value of auto company, therefore, hypothesis H2 was supported; the higher the equity pledge ratio of directors and supervisors, the worse the sale value of auto company, therefore, hypothesis H3 was supported; the higher the total value of assets, the worse the sale value of auto company, therefore, hypothesis H5 was supported. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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