公司所有權結構與產品多角化和國際化策略之研究; Corporate ownership structure, Product diversification and International: An empirical analysis from Taiwan

NCUIR > School of Management at National Central University > Graduate Institute of Business Administration > Electronic Thesis & Dissertation > Item 987654321/11913

Please use this identifier to cite or link to this item: http://ir.lib.ncu.edu.tw/handle/987654321/11913

Title:	公司所有權結構與產品多角化和國際化策略之研究;Corporate ownership structure, Product diversification and International: An empirical analysis from Taiwan
Authors:	羅秀玲;Siou-ling Lo
Contributors:	企業管理研究所
Keywords:	公司治理;所有權結構;產品多角化;國際化;Corporate Governance;Ownership structure;Product
Date:	2007-07-03
Issue Date:	2009-09-22 14:35:02 (UTC+8)
Publisher:	國立中央大學圖書館
Abstract:	本研究旨在探討公司所有權結構，是否會影響公司進行產品多角化與國際化策略，以及其對產品多角化與國際化產生之公司績效的影響。本文承襲La Porta, Lopez-de-Silanes, and Shleifer（1999），以控制權與現金流量權的偏離程度，作為控制股東掠奪少數股權股東之替代變數。研究結果發現：控制股東的控制權偏離現金流量權程度越大時，公司進行產品多角化活動越多，進行國際化的活動越少。此外，研究結果亦發現，企業在經營產品多角化與國際化策略時，當控制股東的股權偏離情況越低時，其經營成果越好。 This paper examines the impact of the corporate ownership structure on product diversification and international behavior, and the effect of product and international diversification on firm value. Following La Porta , Lopez-de-Silanes, and Shleifer (1999), we measure the magnitude of agency problem with the deviation of controlling shareholder’s voting rights from cash flow rights. We find that product diversification is significantly and positive related to the degree of the agency problem. Secondly, when the degree of this deviation is increasing, the international behavior is significantly and negatively related. Furthermore, we also find results suggesting that when the degree of this deviation is decreasing, the firm value of product and international diversification is better.
Appears in Collections:	[Graduate Institute of Business Administration] Electronic Thesis & Dissertation

Files in This Item:

File	Size	Format

社群 sharing

Loading...