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Appropriate Internal Corporate Governance Mechanisms for TSEC-Listed Electronic Companies
Chiaju Crystal Kuo,
Mingdao University
Yung - Yu Lai, The Overseas Chinese Institute Of Technology
Chung - Jen Fu, National Yunlin University of Science and Technology
ABSTRACT. This study’s focuses are on both the effects of directors and on employee stock bonus plans of TSEC-Listed electronic companies and on the appropriate internal corporate governance mechanisms for the firms. The main contribution of this study is that the evidence shows firms with different scale, such as paid-in capital, need different internal corporate governance mechanisms. That is, to raise all directors’ ownership may enhance corporate governance mechanisms for small firms. To appoint independent directors voluntarily may enhance corporate governance mechanisms for middle size firms. Furthermore, large firms may enhance corporate governance mechanisms by raising all directors’ ownership, appointing independent directors voluntarily, or decreasing the proportion of managers serving concurrently as directors to total directors. The system of independent directors seems to have more effects on both middle size and large firms.
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