臺灣博碩士論文加值系統

過去許多研究指出，資訊透明度會對公司經營績效產生影響，對於何種原因會影響資訊發佈卻較少分析，因此本研究以2005年至2018年台灣上市上櫃公司為樣本，探討CEO權力與資訊離散度之間的關聯性，並進一步檢視(1)舉辦法說會、(2)分析師推薦、(3)媒體報導是否會對此關係造成影響。研究結果發現，CEO權力與公司資訊離散度呈現正相關，亦即當CEO掌握較大的權力時，他們傾向對外界透露較完整的資訊。而當加入三種不同資訊揭露機制可以加強企業發佈資訊的完整性，降低CEO權力對資訊發佈的影響。

Many studies indicated that information transparency has effects on the corporate performance. However, little attention is paid to explore the reason behind information disclosure. This study attempts to find the relation between CEO power and information dispersion. The data covers listed companies in Taiwan from 2005 to 2018. The result shows that CEO power is positively correlated with information dispersion. The great power the CEO has, the more information he discloses. In addition, this study further examines whether the relationship between CEO power and information dispersion is affected by media coverage, analysts’ recommendation, and conference calls. The study finds that these three supervisory mechanisms can strengthen companies to release information and reduce the impact of CEO power on information disclosure.

中文摘要 II
ABSTRACT III
目　錄 IV
圖　次 VI
表　次 VII
第一章　緒論 1
第一節　研究動機與目的 1
第二節　研究架構與流程 2
第二章　文獻探討與假說建立 3
第一節　資訊離散度(Information Discreteness，ID) 3
第二節　CEO權力(CEO Power) 4
第三節　資訊揭露機制 5
第四節　金融海嘯 8
第三章　研究方法 10
第一節　樣本來源 10
第二節　研究模型 10
第三節　變數說明 10
第四章　實證結果 15
第一節　統計分析 15
第二節　迴歸分析結果 18
第三節　加入監督機制迴歸分析結果 20
第四節　金融海嘯與非金融海嘯迴歸分析結果 28
第五章　結論 32
參考文獻 33
附錄一　各變數定義彙整表 38
著作權聲明 40

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