財務報表的功能之一是提供有用及可信賴的財務資訊給投資者及債權人使用，以協助其做出適當的投資及授信決策，但台灣自 87 年下半年以來公司及企業集團所爆發之財務危機事件頻傳。其原因多出自董監事職能無法發揮、公司治理因素不彰所致。本研究以台灣上市櫃公司為研究標的，針對公司治理、家族企業、集團企業因素，分析其與財務危機發生之關連性。本研究之目的乃在探討我國上市櫃公司中，財務危機公司與正常公司兩群體之差異性，以瞭解財務危機與公司治理因素、家族企業、集團企業間之關係。透過Logit分析之方法，探討危機公司之成因及相關問題，並提出相關建議。 本研究結果發現： 一、內部人持股百分比越高，財務危機發生的可能性越低，符合利益收斂假說。 二、相較於非集團企業，集團企業發生財務危機發生的可能性較低。 One of the important functions of financial reports is to provide useful and reliable financial information for investors and creditors, to help them make decisions. However, numerous companies have faced financial distress since the mid 1998s in Taiwan. The most important reasons would be the dysfunction of directors and supervisors and the failure of corporate governance mechanisms. This research uses 434 listed and over-the-counter firms in Taiwan as a sample, focusing on their corporate governance, family business characteristics and business group factor, to analyze the relation between those factors and financial distress. The Logit Analysis is utilized and the findings are as follows: 1. The percentage of internal shareholding has a negative correlation with the financial distress. 2. Group businesses are less likely to have financial distress, compared with non-group businesses.
