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研究生:林奇嬅
研究生(外文):LIN, CHI-HUA
論文名稱:CEO權力與銀行股利政策
論文名稱(外文):The Relationship between CEO Power and Bank Dividends
指導教授:盧正壽盧正壽引用關係
指導教授(外文):LU, CHENG-SHOU
口試委員:陳安琳高蘭芬盧正壽
口試委員(外文):CHEN, AN-LINKAO, LAN-FENGLU, CHENG-SHOU
口試日期:2017-05-27
學位類別:碩士
校院名稱:國立高雄應用科技大學
系所名稱:財富與稅務管理系碩士在職專班
學門:商業及管理學門
學類:財務金融學類
論文種類:學術論文
論文出版年:2017
畢業學年度:105
語文別:中文
論文頁數:47
中文關鍵詞:董事會股利雙重性CEO持股CEO權力
外文關鍵詞:Director BoardDividendsDualityCEO OwnershipCEO Power
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本研究旨在探討CEO權力與銀行股利政策之關係。以1996年至2015年國內銀行產業為研究對象,使用三項指標作為CEO權力的代理變數,包括:CEO持股、CEO雙重性及CEO權力整合指標。實證結果顯示,有權力的CEO傾向發放較低的股利,顯示CEO基於降低政府的監督及維持銀行經營的穩定性,而選擇支付較低的股利。此外規模較大的董事會則能正向調節CEO權力與銀行股利政策之間的負向關係。
This paper explores the relationship between CEO power and bank dividends policy. The Domestic Banking Industry from 1996 to 2015 is included as the object, and CEO ownership, CEO duality and CEO power integrated indicator are proxy variables of CEO power. Empirical results find that powerful CEOs tend pay lower dividend based on reducing government monitor and maintaining bank stability In addition the big directors board can improve the negative relationship between the CEO power and bank dividend policy.
中文摘要 i
英文摘要 ii
誌謝 iii
目錄 iv
表 目 錄 vi
一、 緒論 1
二、 文獻探討 4
2.1股利政策與地位鞏固的CEO 4
2.2 銀行業的股利政策:政府監督扮演之角色 5
2.3董事會結構對股利政策的影響 6
三、 研究設計 8
3.1樣本選取及資料來源 8
3.2變數定義與衡量 10
四、 實證結果與分析 13
4.1敘述性統計分析 13
4.1.1敘述性統計量 13
4.1.2 Pearson相關分析 15
4.2 根據CEO持股分組下之敘述性統計量 19
4.2.1 根據CEO雙重性分組下之敘述性統計量 21
4.2.2 根據CEO權力整合指標分組下之敘述性統計量 23
4.2.3 根據董事會規模分組下之敘述性統計量 25
4.3 CEO持股與股利政策 27
4.3.1 CEO雙重性及現金股利政策 29
4.3.2 CEO權力整合指標及股利政策 31
4.4 董事會規模對CEO權力與現金股利關係之影響 33
4.4.1 董事會規模對CEO雙重性與股利政策之影響 36
4.4.2 董事會規模對CEO權力與股利政策關係之影響 38
五、 結論 40
參考文獻 41
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