公司治理與訴訟風險管理之關聯

The Relationship between Corporate Governance and Litigation Risk Management

本研究探討臺灣上市櫃企業公司治理機制與訴訟風險管理之關聯性，研究期間涵蓋2010年至2018年。根據人工蒐集年報資訊彙整企業是否將訴訟義務認列為費損或負債準備作為訴訟風險管理品質欠佳之衡量指標，公司治理變數則包含具財會背景董事、董事長兼任總經理、經營團隊規模與持股、機構投資者持股及公司治理評鑑等級。實證結果顯示，具財會背景董事、經營團隊規模較大、經營團隊持股比例較高、機構投資人持股比例較高及公司治理評鑑等級較佳者，其訴訟風險管理顯著較佳。進一步分析發現，家族企業及盈餘品質會干擾公司治理機制與訴訟風險管理之關係。本研究補足過去文獻鮮少探討不同情境下公司治理機制對訴訟風險管理之影響，對主管機關與實務界強化企業訴訟風險管理具重要參考價值。

This study examines the relationship between corporate governance mechanisms and litigation risk management in Taiwanese listed companies over the period 2010 to 2018. Based on manually collected annual report disclosures, we identify whether firms recognize litigation obligations as expenses or provisions and use this as an indicator of poor litigation risk management quality. Corporate governance variables include the presence of directors with accounting or finance backgrounds, CEO duality, the size and ownership of the management team, institutional investor ownership, and corporate governance evaluation. The empirical results reveal that firms with directors having accounting or finance backgrounds, larger management teams, higher management ownership, greater institutional investor ownership, and better corporate governance ratings exhibit significantly better litigation risk management. Further analysis shows that the relationship between corporate governance mechanisms and litigation risk management is moderated by family ownership and earnings quality. This study fills a gap in the literature by exploring how corporate governance mechanisms influence litigation risk management under different contexts, offering valuable implications for regulators and practitioners seeking to strengthen corporate litigation risk management.