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題名: | The Quest for Talented Independent Directors: The Role of Directors` and Officers` Liability Insurance 追尋優秀獨立董事:董監事責任險之角色 |
作者: | 李貴富 Li, Kuei-Fu 廖懿屏 Liao, Yi-Ping |
貢獻者: | 會計評論 | 關鍵詞: | Directors` and officers` liability insurance ; Independent directors ; Recruit ; Resignation ; 董監事責任險 ; 獨立董事 ; 聘任 ; 辭職 | 日期: | Jul-2021 | 上傳時間: | 17-Nov-2021 | 摘要: | This study explores whether directors` and officers` liability insurance (D& ; O insurance) is an effective tool in firms` quest for talented independent directors, that is, those who are highly educated, well-connected, or financial experts. We find that firms with D& ; O insurance are better able to recruit talented independent directors, supporting that the protection provided by D& ; O insurance is determinative when talented individuals are deciding whether to join a board. We also show that D& ; O insurance reduces the incidence of independent directors` resignation. Collectively, our evidence suggests that D& ; O insurance helps firms maintain a board with superior competence and greater stability, which also explains the wide prevalence of D& ; O insurance in practice. 本研究探討董監事責任險是否能在公司尋求優秀獨立董事時,作為有效的工具,而優秀獨立董事係指符合下列三條件之一者:(1)具備碩士或以上學歷,或(2)身兼三間或以上之董事職位,或(3)符合財務或會計專業人員資格。本研究發現,「購買董監事責任險」與「優秀獨立董事百分比」為顯著正相關,而「購買董監事責任險」與「獨立董事自願離職」為顯著負相關。整體而言,本研究的實證結果支持董監事責任險有助於公司聘任優秀獨立董事、並維持董事會穩定性,此應亦為董監事責任險持續普及的原因之一。 |
關聯: | 會計評論, 73, 101-132 | 資料類型: | article | DOI: | https://doi.org/10.6552/JOAR.202107_(73).0003 |
Appears in Collections: | 期刊論文 |
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