Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/18783
標題: 上市公司資訊透明度影響構面之實證
An Empirical Study of Influential Determinants on Information Transparency of Listed Corporations
作者: 陳冠宙
Chen, Guan-Jou
關鍵字: Information Transparency;資訊透明度;Corporate Governance;Information Disclosure;Capital Market;公司治理;資訊揭露;資本市場
出版社: 會計學研究所
摘要: 
摘要
資訊透明度為公司治理機制中不可或缺的一環,而在現今知識經濟的時代,公司網站資訊是否透明對於公司治理尤其扮演舉足輕重之角色。本文乃藉由公司特性、及內、外部股權特性三個構面,分別探討影響網站資訊透明度之因素,以作為主管當局、公司管理當局、投資人與利害關係人強化公司治理機制之參考。
實證結果發現,影響網站資訊透明度的因素,在公司內部股權構面方面,大股東持股比率越高,資訊透明度越差,但監事持股比率高,資訊透明度越佳。在公司特性構面,使用槓桿程度(負債比率)越高,資訊透明度越差、而員工人數越多的公司,公司資訊越透明、電子業公司資訊透明度明顯較非電子業公司的資訊透明度為佳。至於公司外部股權特性方面,公營機構投資持股比、本國金融機構投資持股比、以及外資持股比率等三項比率越高的公司,其資訊透明度越好。

Abstract
Information transparency has been a necessary device in the activities of corporate governance. Especially, whether the presentation of information at corporate web sites is transparent plays a unique role on corporate governance for the era of knowledge-based economy. In this regard, the study examines what factors influence firms' internet disclosures in terms of three dimensions: insider ownership, corporate characteristics, and outsider ownership where the aim is at providing an indication for government regulators, corporate executives, investors, and interest groups on strengthening corporate governance mechanism.
The empirical results reveal the following facts. In considering insider ownership, the more/less shares the majority shareholders/supervisors hold, the less transparent in corporate information disclosure. In considering corporate characteristics, companies with high degree of leverage, large number of employee and operating in the IT sector tend to disclose information profoundly. In considering outsider ownership, companies with high holding-ratio by public sector, domestic banks, and institutional investors would disclose information more detailed.
URI: http://hdl.handle.net/11455/18783
Appears in Collections:會計學系所

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