伊斯蘭教義、公司治理與成長機會對資本結構 影響之研究—以印尼上市公司為例

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Title:	伊斯蘭教義、公司治理與成長機會對資本結構影響之研究—以印尼上市公司為例
Authors:	李祥誌;Li, Hsiang-Chih
Contributors:	企業管理學系
Keywords:	伊斯蘭教義;資本結構;公司治理;董事會規模;獨立董事;股權結構;成長機會;Shariah;Capital Structure;Corporate Governance;Board Size;Independent Director;Ownership Structure;Growth Opportunity
Date:	2020-06-05
Issue Date:	2020-09-02 15:29:31 (UTC+8)
Publisher:	國立中央大學
Abstract:	本文主要探討伊斯蘭教義、公司治理機制與成長機會對公司資本結構之影響，並且以2011 年至 2018 年印尼上市公司作為樣本，並採用多元迴歸模型進行實證分析。本文實證結果發現，伊斯蘭教義與董事會規模對資本結構呈現負相關；伊斯蘭教義與獨立董事比率對資本結構呈現負相關；伊斯蘭教義與內部持有人持股比率對資本結構呈現正相關；伊斯蘭教義與機構投資人持股比率對資本結構呈現正相關，在加入成長機會調節下，伊斯蘭教義與董事會規模、獨立董事比率與機構投資人持股比率對資本結構呈現有顯著影響，在不考慮宗教的前提下，公司治理可以幫助公司舉債，然而在教義的約束下，公司治理品質較高的公司，則會選擇較低的資本結構。;This thesis mainly discusses the impact of Islamic doctrine,corporate goverance and growthopportunity on firm’s capital structure. This thesis uses the Indonesia listed company from 2011 to 2018 as the sample and uses OLS for empirical analysis. The empirical results show that Islamic doctrine and board size are negatively correlated with capital structure; Islamic doctrine and independent director ratio are negatively correlated with capital structure; Islamic doctrine and internal holders′ shareholding ratio are positively correlated with capital structure; Institutional investor′s shareholding ratio has a positive correlation with capital structure. Under the adjustment of growth opportunities, Islamic doctrine and board size,independent director ratio and institutional investor′s shareholding ratio have a significant impact on capital structure, without considering of religion, the corporate governance can help companies borrow debt, but under the constraints of doctrine, companies with higher corporate governance quality will choose a lower capital structure.
Appears in Collections:	[Graduate Institute of Business Administration] Electronic Thesis & Dissertation

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