English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 110182/141115 (78%)
Visitors : 46628696      Online Users : 557
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/124754


    Title: 董監事責任險對公司經營效率之影響:以台灣上市櫃公司為例
    Effects of D&O Liability Insurance on Efficiency:Evidence from Publicly Traded Firms in Taiwan
    Authors: 劉昱吟
    Liu, Yu-Yin
    Contributors: 鄭士卿
    劉昱吟
    Liu, Yu-Yin
    Keywords: 董監事責任險
    效率
    資料包絡法
    Date: 2019
    Issue Date: 2019-08-07 16:15:38 (UTC+8)
    Abstract: 近年來公司治理之議題受到社會高度重視,屢屢傳出因錯誤決策而使投資人利益受侵害之事件,為了降低其影響,主管機關鼓勵上市櫃公司投保董監事責任保險。然而,有關公司投保董監事責任險之意圖,學界持正反兩派不同的看法,認為董監事責任險除了可以加強公司治理外,也可能存在道德風險。為了瞭解董監事責任險對公司之經營效率帶來正面或負面的影響,本文以2010年至2017年台灣上市櫃公司為研究對象,分析是否投保董監事責任險與投保金額比例高低對公司經營效率分別帶來甚麼影響。
    本文以Tobit迴歸法進行實證分析。藉由資料包絡分析法(DEA)所求出的純技術效率(PTE)、規模效率(SE)、總技術效率(TE)三個效率值為迴歸式應變數,是否投保董監事責任險及投保比例高低為主要自變數,搭配其他與公司治理及財務相關的控制變數進行分析。研究結果顯示,有投保董監事責任險的公司有較好的純技術效率(PTE)表現,但規模效率(SE)的表現較差,整體而言,是否投保董監事責任險對總技術效率(TE)的影響並不顯著,投保比例高低也得出相同結果。進而探討規模大小與規模效率(SE)的關係後發現,規模小於中位數的族群,有投保董監事責任險者之規模效率顯著高於未投保者,規模大的族群則呈現相反的結果,顯示造成整體規模不效率的原因在於部分規模較大的公司。
    Reference: 黃台心,1998,以隨機成本邊界函數分析本國銀行的規模與多元經濟,經濟論文叢刊,26(2),209-241。
    黃鏡如、傅祖壇、黃美瑛,2010,績效評估—效率與生產力之理論與應用。台北市 : 新陸書局。
    陳彩稚、龐嘉慧,2008,董監事暨重要職員責任保險之需求因素分析,台大管理論叢,18(2),171-196。
    鄭士卿、霍熾榮、張元晨,2009,員工紅利配股對生產效率的影響:以台灣電子產業為例,台大管理論叢,20(1),331-354。
    Aigner, D.J. C.A.K. Lovell and P. Schmidt, 1977, Formulation and estimation of stochastic frontier production function models, Journal of Econometrics, 6, 21-37.
    Bayar, T., M. M. Cornett, O. Erhemjamts, T. Leverty, and H. Tehranian, 2018, An examination of the relation between strategic interaction among industry firms and firm performance, Journal of Banking and Finance, 87, 248-263.
    Berger, A.N. and R. DeYoung, 1997, Problem loans and cost efficiency in commercial banks. J. Bank. Finance 21, 849–870.
    Bhagat, S., J. A. Brickley, and J. L. Coles, 1987, Managerial indemnification and liability insurance: The effect on shareholder wealth, Journal of Risk and Insurance, 54, 721-736.
    Bharadwaj, A. S., S. G. Bharadwaj, B. R. Konsynski, 1999, Information technology effects on firm performance as measured by tobin’s q, Management Science, 45, 1008-1024.
    Bonin, J.P., I. Hasan, and P. Wachtel, 2005, Privatization matters: Bank efficiency in transition countries, Journal of Banking and Finance, 29, 2155-2178.
    Boubakri, N., N. Ghalleb and M. Boyer , 2008, ‘Managerial Opportunism in Accounting
    Choice: Evidence from Directors’ and Officers’ Liability Insurance Purchases’,
    Working Paper, HEC Montreal, pp.1-50.
    Brook, Y. and K. S. Rao, 1994, Shareholder Wealth Effects of Directors’ Liability Limitation Provisions, Journal of Financial and Quantitative Analysis, 29, 481-497.
    Chalmers, J., L. Dann, and J. Harford, 2002, Managerial opportunism? Evidence from director’s and officers’ insurance purchases, Journal of Finance, 57 (2), 609-636
    Core, J. E., 1997, On the Corporate Demand for Directors’ and Officers’ Insurance, Journal of Risk and Insurance, 64, 63-87.
    Daniels, R. J. and S. M. Hutton, 1993, The Capricious Cushion: The Implications of the Directors’ and Officers’ Insurance Liability Crisis on Canadian Corporate Governance, Canadian Business Law Journal, 22, 182-230.
    Demerjian, P., Lev, B., McVay, S., 2012, Quantifying managerial ability: a new measure and validity tests. Manage. Sci. 58 (7), 1229–1248.
    Erhemjamts, O., Leverty, J.T., 2010, The demise of the mutual organizational form an investigation of the life insurance industry. J. Money, Credit Bank 42 (6), 1011–1036.
    Gutiérrez, M., 2003, ‘An Economic Analysis of Corporate Directors` Fiduciary Duties’, The RAND Journal of Economics, 34(3): 516-535.
    Holderness, C. G., 1990, Liability Insurers as Corporate Monitors, International Review of Law and Economics, 10,115-129.
    Holod, D. and H.F. Lewis, 2011, Resolving the deposit dilemma: A new DEA bank
    efficiency model, Journal of Banking and Finance, 35, 2801-2810.
    Hwang, J. H. and B. Kim, 2018, ‘Directors’ and Officers’ Liability Insurance and Firm Value’, Journal of Risk and Insurance, 85: 447-482.
    Kim, I., 2015, ‘Directors’ and Officers’ Insurance and Opportunism in Accounting Choice’, Accounting and Taxation, 7(1): 51-65.
    Kesner, I., 1987, Directors` stock ownership and organizational performance: An investigation of fortune 500 companies, Journal of Management, 13 (3): 499-507.
    Kumbhakar, S.C., G. Lien and J. B. Hardaker, 2014, Technical efficiency in competing panel data models: a study of Norwegian grain farming, Journal of Productivity Analysis, 41:321-337.
    Lang, H. P., and R. M. Stulz, 1994, Tobin`s q, corporate diversification, and firm performance, Journal of Political Economy, 102 (6):1248-1280.
    Leverty, J.T., Grace, M.F., 2010, The robustness of output measures in property-liability insurance efficiency studies, J. Bank. Finance, 34, 1510–1524.
    Lundvall, K., and G. E. Battese, 2000, Firm size, age and efficiency: Evidence from Kenyan manufacturing firms, Journal of Development Studies, 36 (3): 146-163.
    Mayers, D. and C. W. Smith, Jr., 1982, On the Corporate Demand for Insurance, Journal of Business, 55, 281-296.
    Morck, R., A. Shleifer, and R. W. Vishny, 1988, Management ownership and market valuation: An empirical analysis, Journal of Financial Economics, 20 (2): 293- 315.
    O’Sullivan, N., 1997, Insuring the Agents: The Role of Directors, and Officers, Insurance in Corporate Governance, Journal of Risk and Insurance, 64,545-556.
    Priest, G. L., 1987, The current insurance crisis and modern tort law, Yale Law Journal, 96 (7), 1521-1590.
    Romano, R, 1991, The shareholder suit: Litigation without foundation, The Journal of Law, Economics, and Organization, 7 (1), 55-87.
    Thore, S., Phillips, F., Rueflis, T. W., and P. Yue, 1996, DEA and the management of the product cycle: The U.S. computer industry, Computers Operations Research, 23 (4): 341-356.
    Zou, Hong, Sonia Wong, Clement Shum, Jun Xiong, and Jun Yan, 2008, Controlling-minority shareholder incentive conflicts and directors’ and officers’ liability insurance: Evidence from China, Journal of Banking & Finance, 32, 2636-2645.
    Description: 碩士
    國立政治大學
    風險管理與保險學系
    106358007
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0106358007
    Data Type: thesis
    DOI: 10.6814/NCCU201900512
    Appears in Collections:[風險管理與保險學系] 學位論文

    Files in This Item:

    File SizeFormat
    800701.pdf1066KbAdobe PDF2233View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏,無償提供學術研究與公眾教育等公益性使用,惟仍請適度,合理使用本網站之內容,以尊重著作權人之權益。商業上之利用,則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作,已盡力防止侵害著作權人之權益,如仍發現本網站之數位內容有侵害著作權人權益情事者,請權利人通知本網站維護人員(nccur@nccu.edu.tw),維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback