Download or read book The Impact of Corporate Governance on Firm Value The Case of Procomp Informatics Limited Event in Taiwan written by 程士禎 and published by . This book was released on 2006 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Corporate Governance on Firm Value The Case of SARS Event in Taiwan written by 黃婉玲 and published by . This book was released on 2006 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Procomp Informatic written by Amy Hing-Ling Lau and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2004, the collapse of Procomp Informatics Ltd., a major Taiwanese chip maker in the high-tech world, was regarded by Taiwan's market watchdogs as similar to the scandal of the giant US energy company Enron in 2001. Procomp defaulted on a bond payment and filed for bankruptcy despite a huge cash balance recorded in its books. It was discovered that the company's chairwoman together with its executives and overseas sales agents had colluded in overstating sales revenue, manipulating stock prices, illegally leveraging assets and arranging bonds through fictitious companies. This incident left thousands of company shareholders with massive financial losses. The case has raised further concerns about corporate governance and risk management of public companies in Taiwan. It has spotlighted the need for credibility of the financial reporting process, companies' internal controls and corporate ethics in the Asian context.
Download or read book The Impact of Corporate Governance on the Performance of U S Small cap Firms written by Mingjun Tang and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Procomp Informatic written by Amy Lau and published by . This book was released on 2007 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Corporate Governance on the Performance of U S Small cap Firms written by Ming Jun Tang and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the interactions between governance mechanisms and performance for US small cap firms over the period from 2000 to 2004. We perform analyses accounting for both simultaneity between the variables and a sample selection bias that may be related to the venue of listing firm's stock. The results demonstrate significant interactions between board independence, firm leverage, CEO ownership, and pay-performance sensitivity. With regard to the impact of governance mechanisms on corporate performance, leverage significantly reduces firm value while strong pay-performance compensation links are beneficial to corporate performance. We also find a weak association between board independence and firm performance. The results do not show a significant relationship between CEO ownership and performance. Another finding is that the passage of the Sarbanes-Oxley Act considerably increases the market value of small cap firms with a rate of return of around 15%, suggesting that the benefits of improved transparency outweigh their potential costs. The results are also consistent with the contention that CEOs may lack the power or will to remove insiders from the boards when firms are required to comply with independence standards.
Download or read book Value Relevance of Fair Value Hierarchy Information and the Impact of Corporate Governance Mechanisms Evidence from Taiwan Capital Market written by 蔡士嘉 and published by . This book was released on 2011 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance and Firm Value written by Jiang Fu and published by . This book was released on 2001 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Size Really Matters written by Yuen Teen Mak and published by . This book was released on 2013 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the impact of corporate governance mechanisms of Singapore and Malaysian firms on the Tobin's Q of these firms. We find little evidence of relationships between most corporate governance mechanisms and Tobin's Q. However, consistent with Yermack (1996) and Eisenberg et al. (1998), we find that there is an inverse relationship between board size and Tobin's Q in both countries. This suggests that the negative relationship between board size and firm value transcends different corporate governance systems.
Download or read book Corporate Governance and Firm Value written by Juan Pablo Davila and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance and Earnings Management written by Ken Y. Chen and published by . This book was released on 2008 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates whether corporate governance characteristics, mandated by the Corporate Governance Best-Practice Principles (CGBPP) for companies listed in Taiwan, are associated with earnings management. In particular, we examine whether the independence, financial expertise, and voluntary formation of independent directorship (supervisorship) are associated with the absolute value of discretionary accruals. Our findings suggest that the independence of supervisors, financial expertise of independent directors, and voluntary formation of independent directorship (supervisorship) are associated with lower likelihood of earnings management. These findings are stronger after the CGBPP was enacted, suggesting that the implementation of CGBPP has lowered the likelihood of earnings management.
Download or read book AGCA White Paper on Corporate Governance in Taiwan written by Charles Lee and published by . This book was released on 2018-08 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Corporate Governance on Firm Performance Evidence from the FTSE 100 written by Evan Kennedy and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance and Product Market Power written by Chong-Chuo Chang and published by . This book was released on 2018 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this study is to investigate how a firm's corporate governance affects its product market power. Adopting firms listed in the TSE and the OTC Exchange from 1996 to 2011, we find three main results. Firstly, better corporate governance leads to stronger product market power. Secondly, firms with higher research and development expenditure return on assets and market to book value have stronger market power while large and high leveraged firms are weak in product market power. Last but not least, cash holding plays an important role in deciding firms' product market power. Companies with a high level of cash holding enjoy better product market power.
Download or read book Corporate Governance and Firm Value written by Guang Zeng and published by . This book was released on 2004 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Blessing in Disguise written by S. Hun Seog and published by . This book was released on 2014 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop simple models in which corporate governance affects the financing and the production level of firms. We assume that the potential expropriation may occur after production. In the single firm model, we investigate how corporate governance affects the financing and the production selection of a firm. In the competition models, we investigate the effect of governance on competition as well as on financing and production in settings of Cournot-Nash duopoly and competition. We show that good (strict) governance may reduce firm value. While good governance prevents managers (entrepreneurs, or controlling shareholders) from expropriating firm value for their private interests, it also reduces the incentives for them to increase firm value in the first place. Other main findings include: Firms may produce more under weaker governance. Weaker governance may be associated with higher competition. Socially optimal governance is weaker than firm value maximizing governance.
Download or read book Internal Corporate Governance Mechanisms written by Chiaju Crystal Kuo and published by . This book was released on 2014 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study's focuses on the effects of directors and employee stock bonus plans on electronic companies listed on the Taiwan Stock Exchange Corporation. In addition, the paper examines the appropriate internal corporate governance mechanisms for firms. The evidence shows firms with different scale measured by paid-in capital, need different corporate governance mechanisms. That is, raising directors' ownership may enhance corporate governance mechanisms for small firms. Appointing independent directors voluntarily may enhance corporate governance mechanisms for middle size firms. Furthermore, large firms may enhance corporate governance mechanisms by raising all directors' ownership, appointing independent directors voluntarily, or decreasing the proportion of managers serving concurrently as directors. Independent directors appear to have more effects on middle size and large firms.
