Corporate Governance, Shareholder Proposal, and Corporate Performance ?Evidence from Taiwan

Mei-Hung Huang (), Yih Jeng () and So-De Shyu ()
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Mei-Hung Huang: Over Seas Chinese University ; National Sun Yat-sen University, Taiwan
Yih Jeng: National Sun Yat-Sen University, Taiwan.
So-De Shyu: Department of Banking and Finance, Takming University of Science and Technology, Taipei, Taiwan

No 4206750, Proceedings of Economics and Finance Conferences from International Institute of Social and Economic Sciences

Abstract: In this research, through taking Tobin?s q and ROE as the performance proxy variables and using panel data model for the empirical research, we mainly studied the relationship between the corporate governance and the corporate performance of the listed companies in Taiwan stock market from year 2010 to 2012 with the shareholders exercising the proposal rights. The results revealed that the shareholding proportion of the institutional investors and the salary of the board members are in the significant negative correlation with the corporate performance of the listed companies at the stock market. The corporate governance index and the corporate performance are in significant negative correlation for the listed companies at the over-the-counter market. No matter if the listed company is at the stock market or at the over-the-counter market, the board size and the corporate performance are in significant negative correlation.

Keywords: Shareholder Proposal; Corporate Governance; Corporate Performance; Panel Data; Taiwan Stock Market (search for similar items in EconPapers)
JEL-codes: G30 G34 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2016-10
New Economics Papers: this item is included in nep-cfn
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Published in Proceedings of the Proceedings of the 6th Economic & Finance Conference, OECD Headquarters, Paris, Oct 2016, pages 157-174

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Persistent link: https://EconPapers.repec.org/RePEc:sek:iefpro:4206750

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