查詢結果分析
相關文獻
- How Agency Problem and Reputation for Integrity Influence Family Firms' Conference Call Disclosures?
- 臺灣大型企業公司目標重要性差異之研究
- 資訊揭露對於紓解企業退休金計畫代理問題之模式探討
- 營建業上市公司代理問題之初步探討
- 適用「退休金會計處理準則」對於紓解企業退休金計畫代理問題之成效
- 營建業組織中代理問題之分析
- 我國銀行年報自願性揭露與銀行特質關聯性研究
- 新上市公司股票之發行折價--代理成本與公司控制之研究
- 從競賽觀點探討基金經理人風險調整行為
- 敵意接管、反接管策略與權益代理成本間理論關係之探討
頁籤選單縮合
題 名 | How Agency Problem and Reputation for Integrity Influence Family Firms' Conference Call Disclosures?=家族公司的代理問題與正直聲譽如何影響法人說明會之召開? |
---|---|
作 者 | 蘇淑慧; 金成隆; 粘凱婷; | 書刊名 | 管理學報 |
卷 期 | 31:3 2014.09[民103.09] |
頁 次 | 頁217-243 |
分類號 | 553.79 |
關鍵詞 | 代理問題; 家族公司; 正直聲譽; 自願性揭露; Agency problems; Family firms; Integrity; Voluntary disclosure; |
語 文 | 英文(English) |
中文摘要 | 本研究探討家族公司與召開法人說明會之關聯性。由於家族公司在股權結構及家族管理之特性,比較容易產生控制股東與小股東之間的代理衝突,加之文獻及報章雜誌皆指出家族公司間之正直聲譽具有明顯差異性,因此本研究探討進一步探討家族公司之自願性揭露政策是否會受到控制股東之控制權與現金流量權偏離以及家族公司之正直聲譽所影響。由於正直聲譽難以衡量,因此本研究以媒體報導作為正直聲譽之代理變數,並進一步將報導內容區分成正面報導與負面報導。研究結果指出,家族公司雖然較願意召開法說會且具有較高之召開頻率,然若控制股東之控制權偏離現金流量權,或具有負面報導時,則會降低自願性揭露之意願與頻率。此外,本研究並未發現具有正面報導之家族公司具有較高之自願性揭露水準,顯示正、負面媒體報導與公司自願性揭露具有不對稱之關連性。 |
英文摘要 | Whether family firms are more likely to disclose voluntarily is an empirical issue. In this paper we examine whether family firms are more likely to provide conference calls in comparison with non-family firms. We also argue that the propensity of family firms in Taiwan to provide conference calls is affected by two characteristics, namely, (1) the divergence between controlling shareholders' control rights and cash flow rights and (2) family integrity, which are the unique features of family firms that affect business prospects. We find that family firms are more likely to hold conference calls regardless of the kind of information disclosed. However, further analyses show that family firms facing agency problem due to the conflicts between controlling and minority stockholders exhibit a lower likelihood of providing a conference call. In addition, low-integrity family firms, measured via negative media coverage, are less likely to hold a conference call and have lower conference call frequency. |
本系統中英文摘要資訊取自各篇刊載內容。