月旦知識庫
 
  1. 熱門:
 
首頁 臺灣期刊   法律   公行政治   醫事相關   財經   社會學   教育   其他 大陸期刊   核心   重要期刊 DOI文章
篇名
Where is foreign institutional investors’ efficacy? A transparency & disclosure perspective
並列篇名
從透明揭露觀點找尋境外機構投資者的功效
作者 Chin-Jung LuanChengli Tien
英文摘要 This study examines the efficacy of foreign institutional investors (FINIs) in affecting information disclosure for a better corporate governance mechanism from multifaceted perspectives. Data for the current study were gathered from the Securities and Futures Institute of Taiwan and Taiwan Economic Journal databases. The study collected data on firms listed on the Taiwan Stock Exchange. The sample is a panel of 840 unique companies across a six-year span from 2005 to 2010. The first conclusion reached is that FINIs fail to play a powerful role in directly improving a firm’s information transparency and disclosure (T&D). Second, FINIs do not have significant efficacy in moderating the relationship between firm performance and information T&D. This study provides empirical evidence to dissolve the myth of FINIs’ efficacy from the viewpoints of the agency theory and international investment, thus suggesting new avenues of research for the literature on the causality of firm performance, FINIs and governance practices, and the perspective of agency problems. This study offers investees evidence in terms of strategies to attract investors for better governance.
起訖頁 41-75
關鍵詞 Corporate governanceInformation transparency and disclosureForeign institutional investorsAgency theoryInternational investment
刊名 陽明交大管理學報
出版單位 陽明交通大學管理學院(原:交通大學管理學院)
期數 201706 (37:1期)
DOI 10.3966/102873102017063701002  複製DOI  DOI申請
QRCode
 



讀者服務專線:+886-2-23756688 傳真:+886-2-23318496
地址:臺北市館前路28 號 7 樓 客服信箱
Copyright © 元照出版 All rights reserved. 版權所有,禁止轉貼節錄