董事會結構與創新活動之關聯性研究──以資訊電子業為例

Association between Board Structure and Innovation Activities：Evidence from Electronics Industry

自2001年以來，國內外陸續發生重大弊案，使投資人蒙受鉅額損失，有鑑於此，公司治理逐漸成為當今顯學，其中又以我國上市上櫃公司實施公司治理制度之主要方向的第一點「強化董事會職能」為首要考量。當企業在健全董事會之同時，經濟環境亦隨時間而變遷，知識經濟的時代已席捲全球，「創新」遂成為資訊電子業是否能成功取得優勢之關鍵。因此，強化董事會的職能是否能幫助企業提升創新活動則為本研究所欲探究之目的。本研究以2010年至2014年，五個年度共1605筆台灣上市資訊電子業公司樣本資料為主，並以固定效果模型檢視董事會結構與創新活動之間的關係。實證結果彙整如下： 一、當董監事責任險投保金額愈高、董事長未同時兼任總經理，創新投入愈佳。二、當董監事責任險投保金額愈高、董事長同時兼任總經理，創新產出愈佳。三、當獨立董監事比例愈高、董監事責任險投保金額愈高、董事長未同時兼任總經理，能正向提升創新投入對於公司績效之影響。

There were so many scandals happened since 2001. Many investors suffered huge losses. Therefore, corporate governance have become one of the most popular issue, and the primary object among this issue is to strengthen the board function. In these years, economy environment have been already changed. “Knowledge Economy” is sweeping entire global. And “Innovation” is a key role whether firm can gain advantages or not in electronics industry. In this paper, we choose 1605 public electronics firm from 2010 to 2014 as sample and use fixed effect model to examine the association between board structure and innovation activities. The results summarize as follow: 1. Innovation input increases if D&O amount increase or chairman isn’t duality. 2. Innovation output increases if D&O amount increase or chairman is duality. 3. Innovation input can promote firm performance if independent director increase, D&O amount increase or chairman isn’t duality.