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研究生:王秉宜
研究生(外文):WANG, PINGYI
論文名稱:CEO繼承人特質與公司財務績效之間關聯的實證研究
論文名稱(外文):An Empirical Research of Relations between CEO Successor Characteristics and Financial Performance
指導教授:李合龍李合龍引用關係
指導教授(外文):LI, HE-LONG
口試委員:黃鈺娟李合龍羅正忠
口試委員(外文):HUANG, YU-JUANLI, HE-LONGLUO, ZHENG-ZHONG
口試日期:2014-05-22
學位類別:碩士
校院名稱:國立高雄應用科技大學
系所名稱:會計系
學門:商業及管理學門
學類:會計學類
論文種類:學術論文
論文出版年:2014
畢業學年度:102
語文別:中文
論文頁數:31
中文關鍵詞:繼承人外部經歷持股比例財務績效
外文關鍵詞:successorexternal experiencesholdingsfinancial performance
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摘要

雖然過去學者對家族企業方面已有相當廣泛的研究,但是對於CEO繼任人之特性與公司財務績效表現之間關係的研究卻不多。有鑑於過去對於繼承人與持股控制權相關方面文獻,本研究探討執行長繼承人之過去工作背景和現有持股對公司之財務績效影響。
本研究認為執行長由家族成員繼承且家族成員擁有過去外部公司經歷時對公司的財務績效會有正向的影響。本研究採用對在台灣證劵交易所上市上櫃的財務金融保險產業公司做逐步迴歸分析,研究結果顯示繼承CEO職位的家族成員特性確實會影響公司的財務績效,擁有公司外部工作經歷的CEO所執導的公司也比不曾在其他公司工作過CEO的公司表現更好。

Abstract

Although family-owned business has been widely researched, very few studies investigate the relationship between successor’s characteristics and financial performance. Drawing on the succession and holdings theories, this article investigates how the CEO’s successor’s background and share holdings influence the performance of companies. The article argues that CEO success by family members with working experiences before succession will positively affects the firm’s performances.
Using a stepwise logistic regression with a bootstrap procedure on a sample of nonfinancial firm listed in the Taiwan Stock Exchange, the results indicate that the characteristics of family member successors does influence the company to perform better than ones hired professional agents as CEO, companies directed by CEO’s with prior working experiences also has a better financial outcomes than ones without working experiences other than the company inherited.

目錄

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
第三節、研究架構與流程 2
第二章、文獻探討與假說 4
第一節、家族繼承人對企業的影響 4
第二節、家族繼承人之外部經歷對績效之影響 6
第三節、家族繼承人之持股比例與公司績效之關係 7
第三章、研究方法 9
第一節、研究方法 9
第二節、資料來源與樣本選取 9
第三節、變數定義 11
第四節、實證模型 16
第四章、實證結果與分析 18
第一節、敘述性統計 18
第二節、相關性分析 18
第三節、實證結果 21
第五章、結論 25
參考文獻 27

參考文獻

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