BOARD INDEPENDENCE, FAMILY CONTROL, AND PERFORMANCE IN TAIWANESE LISTED SEMICONDUCTOR COMPANIES

被引：5
作者：
Kweh, Qian Long [1 ]
Kuo, Kuo-Cheng [2 ]
Wang, Wei-Kang [3 ]
Liu, Hsian-Ming [4 ]
机构：
[1] Univ Tenaga Nas, Dept Accounting, Coll Business Management & Accounting, Pahang 26700, Malaysia
[2] Chinese Culture Univ, Dept Int Trade, Taipei 11114, Taiwan
[3] Yuan Ze Univ, Dept Accounting, Chungli 32003, Taiwan
[4] Natl Def Univ, Dept Financial Management, Taipei 112, Taiwan
来源：
HITOTSUBASHI JOURNAL OF ECONOMICS | 2015年 / 56卷 / 01期
关键词：
board independence; family control; dynamic data envelopment analysis; truncated regression; Taiwanese semiconductor industry; DATA ENVELOPMENT ANALYSIS; CORPORATE GOVERNANCE; FIRM PERFORMANCE; CEO DUALITY; OWNERSHIP; AGENCY; PRODUCTIVITY; ENTRENCHMENT; SEPARATION; IMPACT;
D O I：
10.15057/27192
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We examine the relationship between board independence, family control, and operating efficiency, and the moderating effect of family control on the relationship between board independence and operating efficiency. We apply the dynamic slacks-based measure (DSBM) model to estimate operating efficiency. Using a sample of 42 Taiwanese listed semiconductor companies for the period 2005-2012, we employ truncated regression with a bootstrapping procedure for multivariate analysis. The presence of board independence is significantly positively related to operating efficiency. Family control has a negative impact on operating efficiency. The positive effect of board independence on operating efficiency is significantly weakened in family companies.
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页码：93 / 115
页数：23
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