|
From the point of view of the circumstances offering shareholders meeting souvenir, we can see that shareholders meeting souvenirs play an important role in the shareholders meeting proxy solicitation. However, there are few researches and analysis about shareholders meeting souvenir in Taiwan, and few scholars discussed what its role is like in the literature.
This research mainly discusses the relationship between the value of shareholders meeting souvenir and the company holding rights. We take Taiwan Stock Exchange listed and OTC companies which had offered shareholders meeting souvenirs from 2010 to 2013 as research samples to analyze, respectively from the points of view of the percentage of shareholders owned fewer than 50 on CHEP stock, control ownership, stockholding of director and supervisor, and equity pledge, in the method of Panel Data.
The results:
A. The value of shareholders meeting souvenir and the percentage of shareholders owned fewer than 50 on CHEP stock, whether offer shareholders meeting souvenirs and the percentage of shareholders owned fewer than 50 on CHEP stock, the value of shareholders meeting souvenirs valued from 1~99 dollars, 100~199 dollars and the percentage shared by owned under 50 shareholders on CHEP stock are all have significant positive correlations.
B. The value of shareholders meeting souvenir and control ownership, whether offer shareholders meeting souvenirs and control ownership, the value of shareholders meeting souvenirs valued from 1~99 dollars, 100~199 dollars and control ownership, the value of shareholders meeting souvenir and stockholding of director and supervisor, stockholding of director and supervisor and should offer souvenirs, the value of shareholders meeting souvenirs valued from 1~99 dollars, 100~199 dollars and stockholding of director and supervisor are all have significant negative correlations.
C. The value of shareholders meeting souvenir and equity pledge, equity pledge and should offer souvenirs, shareholders meeting souvenirs valued from 100~199 dollars and more than 300 dollars and equity pledge are all have significantly positive correlations.
D. The value of shareholders meeting souvenir and return on equity exist negative correlations, and whether offer souvenirs and return on equity return on equity exist significant negative correlations. Besides, souvenirs valued fewer than 299 dollars and return on equity do not exist any correlation, but there is a positive correlation between souvenirs valued more than 300 dollars and return on equity.
|