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題名 Corporate Governance, Diversification Strategy in Mergers and Acquisitions and Performances for Taiwanese Family Firms
其他題名 家族企業公司治理、併購策略與績效之探討
作者 呂佳玲;林基煌
貢獻者 財管系
關鍵詞 合併收購 ; 公司治理 ; 多角化 ; 控制股東 ; 家族企業
Mergers & Acquisitions ; Corporate Governance ; Diversification Strategy ; Controlling Shareholder ; Family Firms
日期 2008-03
上傳時間 8-Jan-2015 18:02:59 (UTC+8)
摘要 本研究著重La Porta et al.(1999)提出大股東與小股東之間存在之代理問題,深入剖析控制股東於家族企業之股權結構及董監事結構中所扮演的角色,以及對多角化併購及併購績效的影響,並對此三者間的關係進行綜合討論。本研究以國內併購事件宣告之上市上櫃家族公司為研究對象,研究期間自1996年至2005年。實證結果發現:(1)控制股東對長短期併購績效皆有顯著負向影響(2)核心權益代理問題愈嚴重時,企業愈傾向採行多角化併購決策(3)多角化併購策略對短期併購績效有顯著負向影響。
The purposes of this paper are to exam the relationships among corporate governances, diversification strategy in mergers and acquisitions and performances for family firms. We use Taiwan Listed companies as subjects and the research period is from 1996 to 2005. Final empirical evidences show that controlling stockholders play an important role in M&A performances, and making diversification strategy decisions. Moreover, diversification strategy in mergers and acquisitions has negative influences on short-run M&A performances.
關聯 亞太經濟管理評論, 11(2), 107-134
資料類型 article
dc.contributor 財管系
dc.creator (作者) 呂佳玲;林基煌zh_TW
dc.date (日期) 2008-03
dc.date.accessioned 8-Jan-2015 18:02:59 (UTC+8)-
dc.date.available 8-Jan-2015 18:02:59 (UTC+8)-
dc.date.issued (上傳時間) 8-Jan-2015 18:02:59 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/72716-
dc.description.abstract (摘要) 本研究著重La Porta et al.(1999)提出大股東與小股東之間存在之代理問題,深入剖析控制股東於家族企業之股權結構及董監事結構中所扮演的角色,以及對多角化併購及併購績效的影響,並對此三者間的關係進行綜合討論。本研究以國內併購事件宣告之上市上櫃家族公司為研究對象,研究期間自1996年至2005年。實證結果發現:(1)控制股東對長短期併購績效皆有顯著負向影響(2)核心權益代理問題愈嚴重時,企業愈傾向採行多角化併購決策(3)多角化併購策略對短期併購績效有顯著負向影響。
dc.description.abstract (摘要) The purposes of this paper are to exam the relationships among corporate governances, diversification strategy in mergers and acquisitions and performances for family firms. We use Taiwan Listed companies as subjects and the research period is from 1996 to 2005. Final empirical evidences show that controlling stockholders play an important role in M&A performances, and making diversification strategy decisions. Moreover, diversification strategy in mergers and acquisitions has negative influences on short-run M&A performances.
dc.format.extent 626795 bytes-
dc.format.mimetype application/pdf-
dc.relation (關聯) 亞太經濟管理評論, 11(2), 107-134
dc.subject (關鍵詞) 合併收購 ; 公司治理 ; 多角化 ; 控制股東 ; 家族企業
dc.subject (關鍵詞) Mergers & Acquisitions ; Corporate Governance ; Diversification Strategy ; Controlling Shareholder ; Family Firms
dc.title (題名) Corporate Governance, Diversification Strategy in Mergers and Acquisitions and Performances for Taiwanese Family Firms
dc.title.alternative (其他題名) 家族企業公司治理、併購策略與績效之探討
dc.type (資料類型) articleen