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題名：公司治理與專利權：臺灣新興市場
書刊名：管理學報
作者：金成隆 引用關係／陳俞如 引用關係
作者(外文)：Chin, Chen-lung／Chen, Yu-ju
出版日期：2006
卷期：23:1
頁次：頁99-124
主題關鍵詞：公司治理；所有權結構；創新；專利權；Corporate governance；Ownership structure；Innovation；Patent
原始連結：連回原系統網址new window
相關次數：
  • 被引用次數被引用次數:期刊(15) 博士論文(1) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:15
  • 共同引用共同引用:94
  • 點閱點閱:39
東亞地區的公司代理問題為控制股東剝削小股東，因而傳統的公司治理機制（如董事會與接收）無法緩和此一現象。本研究以台灣上市股票公司為研究對象，探討控制股東的股權結構、董事會組成和公司創新活動之間的關係。本文以專利權數量為創新活動的替代變數，並以控制股東的控制權與現金流量權偏離程度，作為控制股東剝削小股東的替代變數。研究結果發現：(1)控制股東的控制權偏離現金流權程度愈大，公司進行創新的活動愈少，顯示控制股東存在負項的誘因效果；(2)控制股東涉入公司經營管理對公司創新的影響，會隨著控制股東控制權偏離現金流權程度的增加，而出現愈來愈大的負面效果。最後，本文改採推估的專利權「價值」變數以取代專利權「數量」變數時，所得結果仍然支持假說。此一分析結果，在「新發明」專利權下，尤其明顯。
The agency problem of listed companies in East Asia is closely related to their typical concentrated ownership structures. Tight control creates an entrenchment problem that allows controlling owners' self-interested behaviors to go unchallenged internally by the boards of directors or externally by takeover markets. The primary objective of this paper is to explore the association between ownership structure, measured by the divergence between the ultimate owner's control and the equity ownership level、director of board、and innovation. Following the prior studies (Francis and Smith, 1995), this paper use patents granted in Intellectual Property Office of Taiwan as a proxy for innovation activities. We find that innovation is significantly and negatively related to the level of the agency problem; Secondly, we also find that the adverse effects of controlling owner acting as chair of the board or CEO, or as director (independent supervisors) on innovation increase in the divergence between the ultimate owner's control and the equity ownership level. Our findings appear to be robust with respect to the alternative of including the estimated value of patents as opposed to the number of patents as the explanatory variable. The documented association is more pronounced for ”Invention patents” patents relative to all patents.
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32.Claessens, Stijn、Djankov, Simeon、Fan, Joseph P. H.、Lang, Larry H. P.(2002)。Disentangling the Incentive and Entrenchment Effects of Large Shareholdings。The Journal of Finance，57(6)，2741-2771。  new window
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1.Gu, F.、Lev, B.(2001)。Intangible Assets: Measurement, Drivers, Usefulness。Boston, MA：Boston University。  new window
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3.Seethamraju, C.、Lev, B.(2000)。The Value-relevance of Trademarks。New York, NY。  new window
4.Hall, B. H.、Jaffe, A.、Trajtenberg, M.(2001)。Market Value and Patent Citations: A First Look (計畫編號：7741)。National Bureau of Economic Research。  new window
5.Hirschey, M.、Richardson, V. J.、Scholz, S.(1998)。Value Relevance of Nonfinancial Information: The Case of Patent Data。0。  new window
學位論文
1.Shane, H.(1993)。Patent citations as an indicator of the value of intangible assets in the semiconductor industry(-)。  new window
2.翁淑育(2000)。台灣上市公司股權結構、核心代理問題及公司價值之研究(碩士論文)。輔仁大學。  延伸查詢new window
圖書
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2.Anderson, C. A.、Anthony, R. N.(1986)。The New Corporate Directors。New York, NY:：John Wiley & Sons.。  new window
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5.Edvinsson, Leif、Malone, Michael S.(1997)。Intellectual capital: realizing your company's true value by finding its hidden brainpower。New York, NY：HarperCollins Publishers Inc.。  new window
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9.Griliches, Z.、Pakes, A.、Hall, B. H.(1987)。The Value of Patents as Indicatiors of Inventive Activity。Economic Policy and Technical Performance。0。  new window
其他
1.National Science Council(2001)。Indicators of Science and Technology，Taiwan：National Science Council, Executive Yuan。  new window
 
 
 
 
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