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A Study on Efficiency Monitoring and Interest Assimilation in Corporate Governance: Listed Companies in Taiwan

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  • Yao-Hung Yang
  • Ya-Hui Lin
  • Ghi-Feng Yen

Abstract

This paper examines whether efficiency monitoring has a positive influence on corporate performance by using the fixed effect model with panel data of listed firms in Taiwan from 2005 to 2010. The results show that having a shared interest group, formed by the controlling shareholders of a company and its board directors, leads to a failing monitoring function of the board of directors. Moreover, greater divergence between the number of board seats controlled and voting rights leads to a higher likelihood of corporate performance appearing to be an inverted curve. If this divergence exceeds a certain threshold, the interests of external shareholders may be harmed by large shareholders.

Suggested Citation

  • Yao-Hung Yang & Ya-Hui Lin & Ghi-Feng Yen, 2012. "A Study on Efficiency Monitoring and Interest Assimilation in Corporate Governance: Listed Companies in Taiwan," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 48(0), pages 169-183, July.
    • Handle: RePEc:mes:emfitr:v:48:y:2012:i:0:p:169-183
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    Cited by:

    1. Pham Thi Ngoc Bich & Nguyen Dinh Hoang Uyen, 2019. "Corporate governance and firm performance: Evidence from Vietnamese listed companies," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 9(2), pages 74-93.

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