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題名 董事會智慧資本、薪酬與公司績效之關連性研究
Board capital, board compensation and performance
作者 謝素芳
貢獻者 吳安妮
謝素芳
關鍵詞 董事會智慧資本
董監事薪酬
公司績效
日期 2010
上傳時間 5-Sep-2013 14:29:26 (UTC+8)
摘要 本論文採用實證研究，以2001年至2004年高科技產業的上市公司為研究對像，結合代理理論與資源依賴理論，探討董事會智慧資本對於董監事薪酬與公司績效的影響。不同於過去研究僅偏重董事會單一功能，例如，以代理理論強調董事會內部的監督控制功能，或是資源依賴理論強調董事會外部的提供資源服務功能，本研究嘗試以內部治理與外在經營環境為出發點，整合代理理論與資源依賴理論，視董事會同時具有監督控制與提供資源服務功能，瞭解董事會成員的智慧資本(人力資本與關係資本)對落實董事會功能的影響，主要在探討董監事個人智慧資本對於董監事個人薪酬的影響，以及董事會智慧資本對於公司績效的影響，據以彌補以董事會為主的研究文獻缺口。
關於董監事個人智慧資本與董監事現金基礎薪酬的關連性(個人層級)，本論文發現任職於學術界的關連董監事，該董監事獲得的現金基礎薪酬較少；兼職工作於同產業的本公司關連董監事，該關連董監事的現金基礎薪酬較高；關連董監事獲得的現金基礎薪酬較多，以及獨立董監事的現金基礎薪酬水準較低，以上結果皆支持代理理論與資源依賴理論的觀點。
此外，有關董事會智慧資本與公司績效的關連性(公司層級)，本論文發現公司關連董監事佔董事會規模的比重愈高，公司的當期市場績效表現愈差，研究結果支持代理理論，推翻資源依賴理論的觀點。公司關連董監事在外兼職的平均數與公司績效無關，未能支持代理理論與資源依賴理論的看法。公司獨立董監事比重愈高，公司在下期會計績效表現較差，未能支持代理理論與資源依賴理論的看法。來自學術界的董監事佔董事會成員比重愈高，公司下期會計績效愈好，支持資源依賴理論的觀點。最後，在外兼職工作為同產業的企業的關連董監事佔董事會成員的比重愈高，公司下期會計績效皆愈好，支持資源依賴理論，且符合台灣高科技產業的公司以垂直分工的合作方式，相互支援所需資源與進行共同研發，以提升企業因應競爭快速變動的經營環境，改善經營績效。然而，由本論文的二個研究主軸的實證結果發現，來自學術界的關連董監事公司未來(下一期)的會計績效有顯著貢獻，但領取的董監事薪酬卻較少，表示來自學術界的關連董監事所負責的權利與責任的關係不對稱，企業未能給予學術界的關連董監事合理的報酬。
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描述 博士
國立政治大學
會計研究所
92353502
99
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0923535021
資料類型 thesis
dc.contributor.advisor 吳安妮zh_TW
dc.contributor.author (Authors) 謝素芳zh_TW
dc.creator (作者) 謝素芳zh_TW
dc.date (日期) 2010en_US
dc.date.accessioned 5-Sep-2013 14:29:26 (UTC+8)-
dc.date.available 5-Sep-2013 14:29:26 (UTC+8)-
dc.date.issued (上傳時間) 5-Sep-2013 14:29:26 (UTC+8)-
dc.identifier (Other Identifiers) G0923535021en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/60362-
dc.description (描述) 博士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) 92353502zh_TW
dc.description (描述) 99zh_TW
dc.description.abstract (摘要) 本論文採用實證研究，以2001年至2004年高科技產業的上市公司為研究對像，結合代理理論與資源依賴理論，探討董事會智慧資本對於董監事薪酬與公司績效的影響。不同於過去研究僅偏重董事會單一功能，例如，以代理理論強調董事會內部的監督控制功能，或是資源依賴理論強調董事會外部的提供資源服務功能，本研究嘗試以內部治理與外在經營環境為出發點，整合代理理論與資源依賴理論，視董事會同時具有監督控制與提供資源服務功能，瞭解董事會成員的智慧資本(人力資本與關係資本)對落實董事會功能的影響，主要在探討董監事個人智慧資本對於董監事個人薪酬的影響，以及董事會智慧資本對於公司績效的影響，據以彌補以董事會為主的研究文獻缺口。
關於董監事個人智慧資本與董監事現金基礎薪酬的關連性(個人層級)，本論文發現任職於學術界的關連董監事，該董監事獲得的現金基礎薪酬較少；兼職工作於同產業的本公司關連董監事，該關連董監事的現金基礎薪酬較高；關連董監事獲得的現金基礎薪酬較多，以及獨立董監事的現金基礎薪酬水準較低，以上結果皆支持代理理論與資源依賴理論的觀點。
此外，有關董事會智慧資本與公司績效的關連性(公司層級)，本論文發現公司關連董監事佔董事會規模的比重愈高，公司的當期市場績效表現愈差，研究結果支持代理理論，推翻資源依賴理論的觀點。公司關連董監事在外兼職的平均數與公司績效無關，未能支持代理理論與資源依賴理論的看法。公司獨立董監事比重愈高，公司在下期會計績效表現較差，未能支持代理理論與資源依賴理論的看法。來自學術界的董監事佔董事會成員比重愈高，公司下期會計績效愈好，支持資源依賴理論的觀點。最後，在外兼職工作為同產業的企業的關連董監事佔董事會成員的比重愈高，公司下期會計績效皆愈好，支持資源依賴理論，且符合台灣高科技產業的公司以垂直分工的合作方式，相互支援所需資源與進行共同研發，以提升企業因應競爭快速變動的經營環境，改善經營績效。然而，由本論文的二個研究主軸的實證結果發現，來自學術界的關連董監事公司未來(下一期)的會計績效有顯著貢獻，但領取的董監事薪酬卻較少，表示來自學術界的關連董監事所負責的權利與責任的關係不對稱，企業未能給予學術界的關連董監事合理的報酬。		zh_TW
dc.description.tableofcontents 圖次…………………………………………………………………………… VII
表次…………………………………………………………………………… VIII
第一章 緒論………………………………………………………………… 1
1-1 研究背景及動機…………………………………………………… 1
1-2 研究目的與問題…………………………………………………… 5
1-3 研究貢獻…………………………………………………………… 7
1-4 論文架構…………………………………………………………… 9
第二章 文獻回顧與評述…………………………………………………… 11
2-1 相關研究文獻………………………………………………………… 11
2-1-1 董事會的功能角色…………………………………………… 11
2-1-2 董事會智慧資本……………………………………………… 12
2-1-3 董事會與公司績效…………………………………………… 14
2-2 理論背景……………………………………………………………… 16
2-2-1 代理理論與董事會…………………………………………… 16
2-2-2 資源依賴理論與董事會……………………………………… 22
2-2-3 董事會智慧資本對董事會有效性與公司績效的影響………… 27
第三章 研究假說……………………………………………………………… 33
3-1 董事會成員個人的智慧資本與董監事薪酬之關連性……………… 33
3-2 董事會智慧資本與公司績效之關連性……………………………… 37
第四章 研究方法……………………………………………………………… 41
4-1觀念性架構……………………………………………………………… 41
4-2 研究樣本&資料來源………………………………………………… 42
4-3 變數衡量……………………………………………………………… 42
4-4 實證模型……………………………………………………………… 47
第五章 實證結果……………………………………………………………… 49
5-1 董事會智慧資本與董監事薪酬之關連性(個人層級)……………… 49
5-2 董事會智慧資本與公司績效之關連性(公司層級)…………………… 55
5-3 額外分析……………………………………………………………… 61
第六章 結論、研究限制與建議……………………………………………… 65
6-1 研究結論……………………………………………………………… 65
6-2 研究限制……………………………………………………………… 67
6-3後續研究與實務界的建議……………………………………………… 68
參考文獻……………………………………………………………………… 69		zh_TW
dc.format.extent 964921 bytes-
dc.format.mimetype application/pdf-
dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0923535021en_US
dc.subject (關鍵詞) 董事會智慧資本zh_TW
dc.subject (關鍵詞) 董監事薪酬zh_TW
dc.subject (關鍵詞) 公司績效zh_TW
dc.title (題名) 董事會智慧資本、薪酬與公司績效之關連性研究zh_TW
dc.title (題名) Board capital, board compensation and performanceen_US
dc.type (資料類型) thesisen
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