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系統識別號 U0026-2806201814102200
論文名稱(中文) 公司策略與公司治理結構關聯性之研究
論文名稱(英文) The Relationship Between Business Strategy And Corporate Governance
校院名稱 成功大學
系所名稱(中) 會計學系
系所名稱(英) Department of Accountancy
學年度 106
學期 2
出版年 107
研究生(中文) 楊欣宜
研究生(英文) Hsin-Yi Yang
學號 r16054208
學位類別 碩士
語文別 中文
論文頁數 59頁
口試委員 指導教授-楊朝旭
口試委員-李政勳
口試委員-蔡柳卿
口試委員-趙雅儀
中文關鍵字 公司策略  公司治理  經營績效 
英文關鍵字 business strategy  corporate governance  corporate performance 
學科別分類
中文摘要 不同公司策略型態其公司治理系統之設計應有所不同。本研究探討公司策略與公司治理之間關聯性,並進一步研究不同策略型態其最適公司治理結構之組成,若偏離該最適公司治理結構,是否對公司未來績效有負面影響。研究樣本為台灣2011至2015 上市櫃公司,透過Miles and Snow (1978) 之企業策略之分類,將樣本公司分為探勘者企業與防禦者企業。本研究得到以下結論: (1) 探勘者企業在外部董事比例、董事兼任經理人比例、經理人持股、大股東持股、外資持股上顯著高於防禦者企業。防禦者企業在董監事持股、盈餘股份偏離比、盈餘分配、採用交叉持股、金字塔結構顯著高於探勘者企業。(2) 在設計最適公司治理結構上,探勘者企業之最適公司治理設計為董事會規模大、董事兼任經理人比例高、法人持股低、盈餘股份偏離比低、不採用金字塔結構之五項變數設計,當探勘者企業公司治理設計偏離最適公司治理特性設計時,與公司績效為顯著負向影響。
英文摘要 This study examines the relationship between business strategy and corporate governance, and we assume that different types of business strategies will have different corporate governance designs. Also, different strategies have their own top performing corporate governance profile, and we called that the ideal profile. If a company’s corporate governance design deviated from the ideal profile, then the company’s performance has a negative effect. Data was collected from 2011 to 2015 listed companies from the stock exchange market and the over-the-counter market in Taiwan. This study uses Miles and Snow’s (1978) the prospector and defender strategies. Our results shows that: (1) Prospectors are significantly higher than defenders in outside directors, director-managers, large shareholder holdings, managerial holdings, and foreign institutional stockholdings. Defenders are significantly higher than prospectors in director and supervisor stockholdings, deviation ratios in surplus stocks, earning distribution, intersect holdings, and pyramid structures. (2) In designing the optimal corporate governance structure, the ideal profile of corporate governance design for prospectors contains five major variables: large board size, higher percentage of director-manager, low institutional shareholdings, low deviation from surplus shares, and no pyramid structure. When a prospector’s corporate governance design deviates from the optimal corporate governance design, it is significantly negatively related to corporate performance.
論文目次 摘要 I
目錄 VI
表目錄 VII
圖目錄 VII
第一章、緒論 1
第一節、研究背景與動機 1
第二節、研究目的 2
第二章、文獻探討及假說建立 3
第一節、公司策略之文獻回顧 3
第二節、公司治理結構 5
第三節、公司策略配適之文獻回顧 13
第四節、公司治理結構與公司績效 14
第三章、研究設計與方法 15
第一節、變數衡量與實證模型 15
第二節、資料來源與蒐集 23
第四章、實證結果 24
第一節、敘述統計與相關數據 24
第二節、假說一之t檢定結果 39
第三節、假說二之迴歸結果 44
第五章、結論與建議 50
第一節、研究結論 50
第二節、研究建議 51
第三節、研究限制與未來研究建議 53
第六章、參考文獻 54
第一節、中文文獻 54
第二節、英文文獻 56
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