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政大機構典藏 > 商學院 > 會計學系 > 期刊論文 > Item 140.119/135145

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/135145

Title:	Large shareholder ownership types and board governance
Authors:	黃政仁 JenHuang, Cheng Ho, Joanna Karuna, Christo
Contributors:	會計系
Keywords:	Agency problems;Corporate governance;Managerial incentives;Family control;Family ownership;Institutional ownership
Date:	2020-12
Issue Date:	2021-05-26 10:32:33 (UTC+8)
Abstract:	This study examines the relation between large shareholder ownership and board governance in firms. Using a dataset comprising Taiwanese firms, we find that different types of large shareholder ownership influence board governance in different ways. Specifically, we find that greater family ownership is associated with greater outside director proportion on the board and a higher likelihood of CEO-chair combination. The nature of the relation between institutional ownership and board governance depends on whether the institutional owners are foreign or domestic, and active or passive. Our findings collectively suggest that family (institutional) ownership is more associated with an advisory (monitoring) board. Our study contributes to the literature by providing evidence on the multidimensional nature of the relation between large shareholder ownership types and board governance.
Relation:	Journal of Corporate Finance, Vol.65, pp.1-17
Data Type:	article
DOI 連結:	https://doi.org/10.1016/j.jcorpfin.2020.101715
DOI:	10.1016/j.jcorpfin.2020.101715
Appears in Collections:	[會計學系] 期刊論文

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