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政大機構典藏 > 商學院 > 國際經營與貿易學系 > 期刊論文 > Item 140.119/62698

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/62698

Title:	Effects of corporate governance on risk taking in Taiwanese family firms during institutional reform
Authors:	蘇威傑 Su,Wei-chieh;Lee,Cheng-Yu
Contributors:	國貿系
Keywords:	Outside directors;Agency theory;Risk taking;Corporate governance reform
Date:	2013.09
Issue Date:	2013-12-19 11:12:10 (UTC+8)
Abstract:	Can internal corporate governance mechanisms (such as boards of directors) and external corporate governance mechanisms (such as institutional reform) promote risk-taking behavior in family firms? This paper argues that conflicts between majority and minority owners, known as principal–principal conflicts, and cronyism in the board of directors affect firm risk taking. Moreover, institutional corporate governance reform to appoint outside directors may not have an immediate effect on reducing these problems. Based on a sample of family firms in Taiwan, we find that outside directors reduce the negative relationship between family ownership/involvement and risk taking. However, when their influence is examined further, it is found that in those sample firms that went public after institutional reform, outside directors did not improve the relationship between family ownership/involvement and risk taking.
Relation:	Asia Pacific Journal of Management,30(3),809-828
Data Type:	article
Appears in Collections:	[國際經營與貿易學系 ] 期刊論文

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