Determinants of corporate board structure in Taiwan

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Title:	Determinants of corporate board structure in Taiwan
Authors:	陳明園;Chen, Ming-Yuan
Contributors:	管理學院人力資源管理研究所
Keywords:	Agency theory;Board structure;Boards of directors;Corporate governance;Decision analysis;Organizational structure;Outside directors;Regulation;Static and dynamic panel data models;Studies
Date:	2014-01-01
Issue Date:	2026-04-21 13:24:48 (UTC+8)
Publisher:	Elsevier Inc.;Greenwich: Elsevier Inc
Abstract:	摘要： This study examines the determinants of board structure for Taiwanese firms by reviewing their board elections, held between 1991 and 2009. The paper emphasizes three factors: the distinction between insider-affiliated and non-insider-affiliated outside directors based on family relationships, governmental agency theory-based regulations, and the firm's choice between agency and stewardship governance philosophy. Evidence has shown that the proportion of non-insider-affiliated outsiders on the board is sensitive to changes in firm and CEO characteristics, and to changes in government regulations. Government regulations significantly shape corporate boards, encouraging a smaller size, more outside directors, and fewer insider-affiliated outside directors. For firms adopting agency and stewardship theories as governance arrangement, the determinants of board structure are diverse. The board structure of principal–steward firms is less susceptible to changes in firm characteristics but more susceptible to CEO influence, and more responsive to government regulations. 出版者： Greenwich: Elsevier Inc 出版日期： 2014-07-01 出處： International Review of Economics & Finance, 2014-07, Vol.32, p.62-78 資源來源： Elsevier ScienceDirect Journals Complete 版權： 2014 Elsevier Inc. 版權： Copyright Elsevier Science Ltd. Jul 2014 識別號： ISSN: 1059-0560 識別號： EISSN: 1873-8036 識別號： DOI: 10.1016/j.iref.2014.01.007
Appears in Collections:	[Graduate Institute of Human Resource Management ] journal & Dissertation

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