台灣地區創投業治理機制與經營績效關聯性之研究

NHUIR > College of Management > Department of Finance, The M.A. Program of Financial Management > Disserations and Theses > Item 987654321/22449

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Title:	台灣地區創投業治理機制與經營績效關聯性之研究
Other Titles:	The relationship between Corporate Governance and Business Performance of Taiwan's Venture Capital Firms
Authors:	劉柏昀 Liu, Bo-yun
Contributors:	財務管理研究所鍾國貴 Guo-gui Zhong
Keywords:	創業投資公司;公司治理;公司經營績效 Business Performance;Corporate Governance;Venture Capital Firm
Date:	2005
Issue Date:	2015-08-04 13:59:10 (UTC+8)
Abstract:	本研究以1999年至2000年之間台灣地區五十五家創業投資公司為研究對象，採用因素分析去計算出每家創投公司之經營績效分數，並且利用集群分析與變異數分析，試圖瞭解樣本創投公司不同集群型態下的創業投資公司在績效上是否具有顯著的差異，最後利用多元迴歸模型，以因素分析得出之經營績效分數做為應變數與治理機制變數執行多元迴歸模型，分析治理機制變數對經營績效之影響。　　　實證結果發現，在治理機制對經營績效之影響方面，樣本創投公司之董監事持股比例、董監事規模、監察人席次、次大股東持股、最大控制股東身兼董事長或總經理對經營績效為負相關；而其中董監事持股比例達5%顯著水準，次大股東持股達到10%顯著水準。而法人董監事佔董監事會的席次比例與董事會中法人股東同時派任董事及監察人對經營績效為正相關。與本研究之研究假設相比，除了董監事持股比例、監察人席次、董事會中法人股東同時派任董事及監察人與次大股東持股比率外，其對經營績效之影響方向皆合乎預期方向。　　This research picks 55 Taiwan venture capital companies, through the time span of 1999 to 2000, to be their research targets. A method of factor analysis is used to calculate the management achievement scores of each venture capital company, while utilizing gathering analysis and changeable number analysis is also employed. This is trying to understand if our venture capital company under different groups status of the sample venture capital company, show significant differences in achievements. Finally; by using the multi-regression model, the management achievement scores made out by the factor analysis, is used as dependent variable and management mechanism variable to execute influences of multi-regression model, and analysis management mechanism variable to managing achievements.　　　Actual Proofs turned out that regarding the influences of the management achievements of managing mechanism, the proportion of chairmen holdings, chairmen scope, supervisor order of precedence, second major stock holder of sample venture capital company, and biggest holder, highlighting as President or General Manager to managing achievements are considered to be negative relations. Among these, those chairmenholdings reach a significant of 5% standards, and second major holders a 10% significant standard. The order of precedence proportion of chairmen committee occupied by the corporation chairmen and board meeting legal person stockholder is positively related to sending chairmen and supervisor at the same time to managing achievements. Compared to the research analysis of this research, it’s influencial direction of managing achievements all goes in the direction as planned; besides chairmen holding proportion, supervisor order of precedence, corporation stockholders of the board simultaneously sending proportion of chairmen, supervisor, and second major stock holders.
Appears in Collections:	[Department of Finance, The M.A. Program of Financial Management] Disserations and Theses

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