董事會多元化對公司績效的影響 ──以大陸深、滬兩市上市公司為例

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姓名

朱妮亞(Ni-Ya Chu) 查詢紙本館藏

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人力資源管理研究所

論文名稱

董事會多元化對公司績效的影響 ──以大陸深、滬兩市上市公司為例
(Effect of Board Diversity on Firm Performance： A Study of Listed Companies in Shenzhen and Shanghai Stock Exchanges)

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摘要(中)

本研究以121家在大陸深、滬兩市上市的公司2013年的一些數據為研究對象，研究董事會多元化對公司績效的影響。樣本數據的來源是台灣經濟新報，本研究主要通過描述性統計分析和迴歸分析進行假設驗證。

本文選取性別、年齡、教育程度和薪資水平作為董事會多元化的變項，ROE和Tobin’s Q值為公司績效的變項。研究結果顯示，年齡，性別和薪資水平對公司績效呈現顯著的正向相關，而教育程度對公司績效呈現顯著負向相關。

同時，我們的研究也發現，薪資多元化程度對ROE有倒U型曲線關係，年齡多元化程度對Tobin’s Q呈現正U型曲線關係。

摘要(英)

The purpose of this study is to examine the relationship between board diversity and firm performance. We analyze 121 companies that listed in Mainland China. We selects samples of the year 2013 descriptive statistics and makes regression analysis to test hypotheses.

In this study, we definite four board diversity variables: gender, age, educational level and pay level. We use ROE and Tobin’s Q as our firm performance variables. The results of the study showed that the diversity of directors’ gender, age and pay level has a significant positive correlation with firm performance，but the diversity of directors’ educational level has a negative correlation with firm performance.

Our results also reveal an inverted U-shape curvilinear relationship between the diversity of directors’ pay level and firm performance. What’s more, there is a distinct U shape curve relation between the diversity of directors’ age and firm performance.

關鍵字(中)

★ 董事會成員多元化
★ 公司績效
★ 公司治理

關鍵字(英)

★ Diverse of Board Members
★ Company Performance
★ Corporate Governance

論文目次

壹、緒論 1
第一節、研究動機與目的 1
第二節、本文架構 3
貳、文獻回顧與假說建立 4
第一節、董事會 4
第二節、董事會多元化所帶來的潛在成本與效益分析 10
第三節、董事會多元化對公司績效的影響 13
叁、研究方法 15
第一節、研究架構與研究假設 15
第二節、研究樣本和變數 17
一、研究樣本 17
二、研究變數 18
第三節、資料分析方法 21
一、描述性統計分析 21
二、迴歸分析 21
肆、研究結果與討論 23
第一節、敘述性統計結果 23
第二節、迴歸分析結果 24
一、董事會多元化對ROE的影響 24
二、董事會多元化對Tobin’s Q的影響 25
第三節、分析結果總結 27
伍、結論與建議 29
第一節、研究結論與發現 29
第二節、對企業的建議 31
一、提高女性董事的比例 31
二、重視多元化的雙刃劍效應 31
三、完善董事的薪資制度 32
第三節、研究限制 32
參考文獻： 33

參考文獻

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指導教授

陳明園(Ming-yuan Chen)

審核日期

2016-6-14

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