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The defense date of the thesis is 2014-02-14
The current date is 2019-03-21
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URN etd-0214114-095636 Statistics This thesis had been viewed 863 times. Download 0 times. Author Hsiu-Chieh Shih Author's Email Address No Public. Department Management Business Administration Year 2013 Semester 1 Degree Master Type of Document Master's Thesis Language zh-TW.Big5 Chinese Page Count 50 Title THE DIFFERENT IMPACT OF OWNERSHIP STRUCTURE ON PRODUCTIVITY AND CORPORATE VALUE Keyword Sales Performance Ownership Ownership Performance Sales Abstract This study investigates the effects on ownership between productivity and corporate value in Taiwan during 2002 to 2012. We use Panel Least Squares regression to examine our hypotheses. The empirical results show that 1-year lagged, contemporaneous and 1-year forward value of the percentage of shares owned by directors have non-liner relationship with annual sales. It presents a significant curvilinear relation between directors’ ownership and firm value. Evidences do not support the proposition that controlling shareholders would influence firm value through pyramids and intersect holdings. In addition, there is no evidence shows that the relation between directors’ share holding ratio and firm value is significantly positive with regard to the deviation from control right. The relation between large shareholders’ ratio and annual sales is significantly positive. As the family shareholders manipulate their control right to control the board of directors, they do not significantly affect the annual sales and corporate value. The inputs of capital and labor are more likely to have better annual sales. Advisor Committee Ruey-Shii Chen - advisor
Files Date of Defense 2013-12-31 Date of Submission 2014-02-14