| dc.contributor.advisor | 戚務君 | zh_TW |
| dc.contributor.advisor | Chi, Wu-Chun | en_US |
| dc.contributor.author (Authors) | 劉威廷 | zh_TW |
| dc.contributor.author (Authors) | Liu, Wei-Ting | en_US |
| dc.creator (作者) | 劉威廷 | zh_TW |
| dc.creator (作者) | Liu, Wei-Ting | en_US |
| dc.date (日期) | 2005 | en_US |
| dc.date.accessioned | 18-Sep-2009 09:02:18 (UTC+8) | - |
| dc.date.available | 18-Sep-2009 09:02:18 (UTC+8) | - |
| dc.date.issued (上傳時間) | 18-Sep-2009 09:02:18 (UTC+8) | - |
| dc.identifier (Other Identifiers) | G0093353004 | en_US |
| dc.identifier.uri (URI) | https://nccur.lib.nccu.edu.tw/handle/140.119/34218 | - |
| dc.description (描述) | 碩士 | zh_TW |
| dc.description (描述) | 國立政治大學 | zh_TW |
| dc.description (描述) | 會計研究所 | zh_TW |
| dc.description (描述) | 93353004 | zh_TW |
| dc.description (描述) | 94 | zh_TW |
| dc.description.abstract (摘要) | 本研究利用2000年至2004年的資料，分析獨立董事與監察人的設置 (以下簡稱為獨立董監) 與公司債務資金成本的關聯性。在以利息費用除以付息負債做為代理變數的前提之下，本研究的實證結果顯示，無論以當期利率水準、次期利率水準或者利率水準的變化做為被解釋變數，均顯示聘任獨立董監的企業會享有較低的債務資金成本。此外，進一步的分析也發現，無論以簡單的單變量模型、普通最小平方法或者利用縱橫面資料 (panel data) 模型，都得一致性地得到獨立董監得以有助於減緩公司與債權人間代理成本的實證結果。就控制變數而言，與預期相同，較完備的公司治理、較高的企業規模以及較佳的營運績效均與債務資金成本具有負向的關聯性。 | zh_TW |
| dc.description.abstract (摘要) | Corporate governance has become an imperative issue recently, especially the focus on the independent director system. Securities and Futures Commission has requested that those applying to be listed companies should set up the independent director systems for the purpose of building better corporate governance systems. In the framework of corporate governance formulated by the World Bank, as an essential capital provider or financial statement user, creditor plays an indispensable role. But few literatures has conducted to evaluate the relationship between the cost of debt financing and corporate governance, much less with the independent directors. Therefore, this study based on a sample of listed companies data in Taiwan Economic Journal over the period of 2000 to 2004 is to explore the relationship between independent directors and cost of debt and expected to provide the financial institutions determining the borrowing rate with some empirical results. The results indicate the cost of debt, whether based on the level analysis or change analysis of ordinary least square model or panel data analysis, is inversely related to the independent directors with significance at 1% level, suggesting that the enterprise with independent directors having the lower cost of debt in favor of the hypothesis. The analysis also indicates the relationship of the control variables of board characteristics, such as the ratio of the stock held by the board and supervisors is inversely with cost of debt、the higher ratio of the pledged shares held by the board and supervisors with the higher cost of debt and the enterprise with the combined titles of the chairman and CEO has higher cost of debt, follow our expectation again. | en_US |
| dc.description.tableofcontents | 第一章 緒論 1第一節 研究動機與目的 1第二節 研究問題 3第三節 研究架構 4第二章 文獻探討 6第一節 代理理論與公司治理 6ㄧ、代理理論 6二、公司治理概述 9第二節 董事會特性相關文獻 12一、獨立董事與監察人 12二、董監事持股比率 14三、董監事持股質押比率 15四、董事長兼任總經理 16第三節 資金成本相關文獻 17一、權益資金成本 17二、債務資金成本 18第三章 研究方法 21第一節 研究假說 21第二節 研究變數 22第三節 資料來源與選取 25第四節 資料分析方法 26ㄧ、敘述性統計分析 26二、相關係數分析 26三、迴歸分析 26第四章 實證研究結果及分析 28第一節 敘述性統計分析 28ㄧ、樣本篩選過程 28二、各變數之敘述統計分析 29第二節 相關係數分析 32一、自變數間共線性分析 32二、自變數與應變數間相關係數分析 32第三節 迴歸分析 34ㄧ、應變數一與應變數二「當期」之實證分析 34二、應變數一與應變數二「次期」之實證分析 35三、應變數一與應變數二「變化」之實證分析 36第四節 額外之檢測分析 38一、排除短期借款之檢測 38二、考量前期債務資金成本因素之檢測 38三、Panel Data分析 39第五章 研究結論與建議 42第一節 研究結論 42一、上市(櫃)公司債務資金成本之概況 42二、上市(櫃)公司獨立董監事與董事會控制變數之概況 43三、企業是否聘任獨立董監事與債務資金成本之關係 43四、董監事持股比率與債務資金成本之關係 43五、董監事持股質押比率與債務資金成本之關係 44六、董事長與總經理是否為同一人與債務資金成本之關係 44第二節 研究限制 45第三節 未來研究方向建議 45參考文獻 47 | zh_TW |
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| dc.language.iso | en_US | - |
| dc.source.uri (資料來源) | http://thesis.lib.nccu.edu.tw/record/#G0093353004 | en_US |
| dc.subject (關鍵詞) | 獨立董監 | zh_TW |
| dc.subject (關鍵詞) | 債務資金成本 | zh_TW |
| dc.subject (關鍵詞) | 公司治理 | zh_TW |
| dc.subject (關鍵詞) | Independent directors | en_US |
| dc.subject (關鍵詞) | cost of debt | en_US |
| dc.subject (關鍵詞) | corporate governance | en_US |
| dc.title (題名) | 獨立董事及監察人之設置與債務資金成本關聯性之研究 | zh_TW |
| dc.title (題名) | INDEPENDENT DIRECTORS AND COST OF DEBT | en_US |
| dc.type (資料類型) | thesis | en |
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