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標題: 企業生命週期、董事會組成特性對資訊透明度之影響
The Impacts of Life Cycle and Board Characteristics on Information Transparency
作者: Cheng-Hwai Liou
Yun-Sheng Hsu
Kai-Wen Chin
關鍵字: 企業生命週期
business life cycle
characteristics of board directors
information transparency
摘要: This study is to investigate the relationship between characteristics of board of directors and a firm's information transparency for a differential stage in a firm's life cycle. The observations are collected from Taiwan Stock Exchange and OTC during 2003-2009. The results show that the most negative impact to the information transparency when the chairman of the board is the CEO in the stage of mature, followed by decline and growth. The influence of the size of the Board for information transparency is positive impact in order of maturity, decline and growth stage. Independent director ratio is positively associated with the firm's information transparency in all stages and is most significant in the stage of decline, next for maturity and growth. Finally, the relationship between chairman internalization and firm's information transparency is negatively. Stage of growth has more negative influence, next for the stage of mature and decline.
Appears in Collections:第13卷 第01期



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