:::

詳目顯示

回上一頁
題名:家族集團股權結構與家族領導雙元性對「主理人-主理人」代理問題之探討
書刊名:人力資源管理學報
作者:盧逸君 引用關係詹淑婷蘇怡方鍾喜梅 引用關係
作者(外文):Lu, Yi-chunChan, Shu-tingSu, I-fangChung, Hsi-mei
出版日期:2019
卷期:19:2
頁次:頁29-55
主題關鍵詞:「主理人-主理人」代理問題資源依賴理論家族集團金字塔股權結構家族領導雙元性Principal-principal agency problemResource dependence theoryFamily business groupPyramidal ownership structureFamily leadership duality
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(0) 博士論文(0) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:0
  • 共同引用共同引用:182
  • 點閱點閱:7
家族集團透過金字塔股權結構,形成股份控制權與盈餘分配權不相當的分離現象而導致剝削誘因,即為代理理論所指「主理人-主理人」代理問題。然家族成員除直接持股分子企業外,亦可透過核心公司或集團內其他分子企業間接持股以達控制。本研究透過1996~2004年共17個台灣家族集團、371間分子企業之縱橫資料,以多層混和效果最大概似模型(multilevel mixed-effects maximum likelihood model, ML model)探討股權結構對集團分子企業的「主理人-主理人」代理意涵;並結合資源依賴觀點,討論集團領導人與分子企業領導人的親屬關係(家族領導雙元性),對於調和股權結構與此一代理問題的影響。研究發現,家族領導雙元性得減緩家族成員直接持股或透過核心公司持股集團分子企業造成的「主理人-主理人」代理問題。
Agency theory argues that the differential ownership structure inside a family business group will generate distinctive agency problems or performance consequence. In that, the higher degree of pyramidal ownership structure will generate greater divergence between voting rights and cash-flow rights, and thus the higher level of principal-principal agency problem in the affiliated firms in a family business group will be. Employing agency and resource dependence perspective, this study tries to examine the principal-principal agency problem from the distinctive ownership control type (direct ownership, the ownership of the core firm, and the ownership from other affiliates) by considering the condition of family leadership duality in family business groups. With longitudinal data of Taiwanese family business groups from 1996 to 2004, including 371 firms from 17 groups, this study adopts multilevel mixed-effects maximum likelihood model (ML model) to find out that family leadership duality cast moderation effect with family direct ownership and the ownership of the core firm on the affiliated firm to alleviate the principal-principal agency problem in the affiliated firms.
期刊論文
1.鍾喜梅(20110300)。臺灣金融家族集團的控股鏈分析--金融控股公司的角色思考。產業與管理論壇,13(1),28-45。new window  延伸查詢new window
2.Ahlstrom, D.、Young, M. N.、Chan, E. S.、Bruton, G. D.(2004)。Facing constraints to growth? Overseas Chinese entrepreneurs and traditional business practices in East Asia。Asia Pacific Journal of Management,21(3),263-285。  new window
3.Arregle, Jean-Luc、Hitt, Michael A.、Sirmon, David G.、Very, Philippe(2007)。The development of organizational social capital: Attributes of family firms。Journal of Management Studies,44(1),73-95。  new window
4.Braun, M.、Sharma, A.(2007)。Should the CEO Also Be Chair of the Board? An Empirical Examination of Family-controlled Public Firms。Family Business Review,20(2),111-126。  new window
5.Eddleston, K. A.、Kellermanns, F. W.(2007)。Destructive and Productive Family Relationships: A Stewardship Theory Perspective。Journal of Business Venturing,22(4),545-565。  new window
6.鍾喜梅、葉家豪(20100200)。家族連結、政商關係與多角化擴張:臺灣家族集團的跨時分析。組織與管理,3(1),67-106。new window  延伸查詢new window
7.Chu, Wen-Yi(2011)。Family ownership and firm performance: Influence of family management, family control, and firm size。Asia Pacific Journal of Management,28(4),833-851。  new window
8.Chung, Hsi-Mei、Chan, Shu-Ting(2012)。Ownership structure, family leadership, and performance of affiliate firms in large family business groups。Asia Pacific Journal of Management,29(2),303-329。  new window
9.薛敏正、林嬋娟、林秀鳳(20081200)。董事會特性與財務報告重編。交大管理學報,28(2),73-103。new window  延伸查詢new window
10.李春安、徐傳瑛(20100700)。董事會獨立性與企業財務危機關係之研究。管理與系統,17(3),467-499。new window  延伸查詢new window
11.鍾喜梅、鄭力軒、詹淑婷、林佳慧(20120900)。醫院與大學在家族企業集團股權鏈之角色:制度與資源依賴觀點的辯證。人文及社會科學集刊,24(3),399-438。new window  延伸查詢new window
12.葉匡時、操禮芹(19960700)。家族企業接班過程之網絡分析。管理科學學報,13(2),197-225。  延伸查詢new window
13.Carney, M.、Gedajlovic, E. R.、Heugens, P. P. M. A. R.、Van Essen, M.、Van Oosterhout, J. H.(2011)。Business Group Affiliation, Performance, Context, and Strategy: A Meta-Analysis。Academy of Management Journal,54(3),437-460。  new window
14.Singh, D. A.、Gaur, A. S.(2009)。Business Group Affiliation, Firm Governance, and Firm Performance: Evidence from China and India。Corporate Governance: An International Review,17(4),411-425。  new window
15.Almeida, H.、Park, S. Y.、Subrahmanyam, M. G.、Wolfenzon, D.(2011)。The structure and formation of business groups: Evidence from Korean chaebols。Journal of Financial Economics,99(2),447-475。  new window
16.Almeida, Heitor V.、Wolfenzon, Daniel(2006)。A theory of pyramidal ownership and family business groups。Journal of Finance,61(6),2637-2680。  new window
17.Steier, L. P.(2009)。Familial capitalism in global institutional contexts: Implications for corporate governance and entrepreneurship in East Asia。Asian Pacific Journal of Management,26,513-535。  new window
18.Jiang, Y.、Peng, M. W.(2011)。Are family ownership and control in large firms good, bad, or irrelevant?。Asia Pacific Journal of Management,28(1),15-39。  new window
19.Masulis, R. W.、Pham, P. K.、Zein, J.(2011)。Family business groups around the world: Financing advantages, control motivations, and organizational choices。Review of Financial Studies,24(11),3556-3600。  new window
20.Luo, X. W.、Chung, C. N.(2005)。Keeping it all in the family: The role of particularistic relationships in business group performance during institutional transition。Administrative Science Quarterly,50,404-439。  new window
21.Khanna, T.、Palepu, K. G.(1997)。Why Focused Strategies May be Wrong for Emerging Markets。Harvard Business Review,75(4),41-51。  new window
22.Boyacigiller, N.(1990)。The Role of expatriates in the management of interdependence, complexity and risk in multinational corporations。Journal of International Business Studies,21(3),357-381。  new window
23.Tsai, W.(2000)。Social capital, strategic relatedness and the formation of intraorganizational linkages。Strategic Management Journal,21,925-939。  new window
24.Biggart, N. W.、Delbridge, R.(2004)。Systems of exchange。Academy of Management Review,29(1),28-49。  new window
25.Carney, M.(1998)。A management capacity constraint? Obstacles to the development of the Overseas Chinese Family Business。Asia Pacific Journal of Management,15(2),137-162。  new window
26.Teece, D. J.(1982)。Towards an economic theory of the multiproduct firm。Journal of Economic Behavior and Organization,3(1),39-63。  new window
27.Morck, Randall、Yeung, Bernard(2003)。Agency problems in large family business groups。Entrepreneurship Theory and Practice,27(4),367-382。  new window
28.He, Jia、Mao, Xinyang、Rui, Oliver M.、Zha, Xiaolei(2013)。Business Groups in China。Journal of Corporate Finance,22(9),166-192。  new window
29.Dawson, Jeremy F.(2014)。Moderation in management research: What, why, when and how。Journal of Business and Psychology,29(1),1-19。  new window
30.Berglof, E.、Perotti, E.(1994)。The governance structure of the Japanese financial keiretsu。Journal of Financial Economics,36(2),259-284。  new window
31.Peng, Mike W.、Jiang, Yi(2010)。Institutions Behind Family Ownership and Control in Large Firms。Journal of Management Studies,47(2),253-273。  new window
32.Casciaro, Tiziana、Piskorski, M. Jan(2005)。Power Imbalance, Mutual Dependence and Constraint Absorption: A Closer Look at Resource Dependence Theory。Administrative Science Quarterly,50(2),167-199。  new window
33.Kim, H.、Hoskisson, R. E.、Wan, W. P.(2004)。Power dependence, diversification, strategy, and performance in Keiretsu member firms。Strategic Management Journal,25,613-636。  new window
34.Numazaki, I.(1986)。Networks of Taiwanese big business: A preliminary analysis。Modern China,12,487-534。  new window
35.Khanna, T.、Rivkin, J. W.(2001)。Estimating the performance effects of business groups in emerging markets。Strategic Management Journal,22(1),45-74。  new window
36.溫福星、邱皓政(20090600)。多層次模型方法論:階層線性模式的關鍵議題與試解。臺大管理論叢,19(2),263-293。new window  延伸查詢new window
37.Banerji, Kunal、Sambharya, Rakesh B.(1996)。Vertical keiretsu and international market entry: The case of the Japanese automobile ancillary industry。Journal of International Business Studies,27(1),89-113。  new window
38.Miller, Danny、Le Breton-Miller, Isabelle(2006)。Family Governance and Firm Performance: Agency, Stewardship, and Capabilities。Family Business Review,19(1),73-87。  new window
39.Schulze, William S.、Lubatkin, Michael H.、Dino, Richard N.、Buchholtz, Ann K.(2001)。Agency relationships in family firms: Theory and evidence。Organization Science,12(2),99-116。  new window
40.Wiseman, R. M.、Cuevas-Rodriguez, G.、Gómez-Mejía, L. R.(2012)。Towards a social theory of agency。Journal of Management Studies,49(1),202-222。  new window
41.Dharwadkar, R.、George, G.、Brandes, P.(2000)。Privatization in emerging economies: An agency theory perspective。The Academy of Management Review,25(3),650-669。  new window
42.Chang, S. J.(2003)。Ownership Structure, Expropriation, and Performance of Group-affiliated Companies in Korea。Academy of Management Journal,46(2),238-254。  new window
43.Aaker, David A.(1989)。Managing assets and skills: The key to a sustainable competitive advantage。California Management Review,31(2),91-106。  new window
44.Belderbos, R. A.、Heijltjes, M. G.(2005)。The determinants of expatriate staffing by Japanese multinationals in Asia: Control, learning and vertical business groups。Journal of International Business Studies,36(3),341-354。  new window
45.戚樹誠、陳淑貞、楊美玉、朱志傑、賴璽方(20160300)。臺灣組織行為的實證發現:一項國內管理期刊論文的30年回顧。管理學報,33(1),1-34。new window  延伸查詢new window
46.Chen, X.、Arnoldi, J.、Na, C.(2015)。Governance Structure and Related Party Loan Guarantees: The Case of Chinese Family Business Groups。Management and Organization Review,11(4),599-619。  new window
47.Bhaumik, S. K.、Gregoriou, A.(2010)。Family Ownership, Tunneling and Earnings Management: A Review of the Literature。Journal of Economic Surveys,24(4),705-730。  new window
48.廖俊杰、陳家妤(20110900)。集團企業股權網絡結構與研發決策的跨層次分析。中山管理評論,19(3),665-707。new window  延伸查詢new window
49.Bena, J.、Ortiz-Molina, H.(2013)。Pyramidal ownership and the creation of new firms。Journal of Financial Economics,108(3),798-821。  new window
50.Cruz, Cristina C.、Gómez-Mejía, Luis R.、Becerra, Manuel(2010)。Perceptions of benevolence and the design of agency contracts: CEO-TMT relationships in family firms。Academy of Management Journal,53(1),69-89。  new window
51.Gómez-Mejía, L. R.、Núñez-Nickel, M.、Gutierrez, I.(2001)。The role of family ties in agency contacts。Academy of Management Journal,44,81-95。  new window
52.Lien, M. C.、McCann, R. S.、Ruthruff, E.、Proctor, R. W.(2005)。Confirming and disconfirming theories about ideomotor compatibility in dual-task performance: A reply to Greenwald。Journal of Experimental Psychology: Human Perception and Performance,31,226-229。  new window
53.Liu, W.、Yang, H.、Zhang, G.(2012)。Does family business excel in firm performance? An institution based view。Asia Pacific Journal of Management,29,965-987。  new window
54.Sharma, P.、Chua, J. H.(2013)。Asian family enterprises and family business research。Asia Pacific Journal of Management,30,641-656。  new window
55.Westphal, J. D.(1999)。Collaboration in the boardroom: Behavioral and performance consequences of CEO board social ties。Academy of management Journal,42,7-24。  new window
56.Zona, F.、Gomez-Mejia, L. R.、Withers, M. C.(2018)。Board interlocks and firm performance: Toward a combined agency-resource dependence perspective。Journal of Management,44,589-618。  new window
57.Claessens, Stijn、Djankov, Simeon、Lang, Larry H. P.(2000)。The Separation of Ownership and Control in East Asian Corporations。Journal of Financial Economics,58(1/2),81-112。  new window
58.Faccio, Mara、Lang, Larry H. P.、Young, Leslie(2001)。Dividends and expropriation。American Economic Review,91(1),54-78。  new window
59.Fukuyama, Francis(1995)。Social capital and the global economy。Foreign Affairs,74(5),89-103。  new window
60.林宛瑩、許崇源(20080600)。臺灣集團企業之控股型態及公司治理衡量指標之研究與建議。交大管理學報,28(1),269-312。new window  延伸查詢new window
61.Fama, Eugene F.、Jensen, Michael C.(1983)。Separation of ownership and control。Journal of Law and Economics,26(2),301-325。  new window
62.La Porta, Rafael、López-de-Silanes, Florencio、Shleifer, Andrei(1999)。Corporate ownership around the world。Journal of Finance,54(2),471-517。  new window
63.Hillman, Amy J.、Dalziel, Thomas(2003)。Boards of directors and firm performance: Integrating agency and resource dependence perspectives。The Academy of Management Review,28(3),383-396。  new window
64.Lemmon, Michael L.、Lins, Karl V.(2003)。Ownership structure, corporate governance, and firm value: Evidence from the East Asian financial crisis。The Journal of Finance,58(4),1445-1468。  new window
65.Anderson, Ronald C.、Reeb, David M.(2003)。Founding-family ownership and firm performance: Evidence from the S&P 500。The Journal of Finance,58(3),1301-1328。  new window
66.Boyd, Brian K.(1995)。CEO duality and firm performance: A contingency model。Strategic Management Journal,16(4),301-312。  new window
67.林美鳳、梁嘉紋、金成隆(20100300)。公司股權結構與外資持股關係之研究。中山管理評論,18(1),101-142。new window  延伸查詢new window
68.Khanna, Tarun、Palepu, Krishna(2000)。Is Group Affiliation Profitable in Emerging Markets? An Analysis of Diversified Indian Business Groups。The Journal of Finance,55(2),867-891。  new window
69.Villalonga, Belen、Amit, Raphael(2006)。How do family ownership, control and management affect firm value?。Journal of Financial Economics,80(2),385-417。  new window
70.金成隆、陳俞如(20060200)。公司治理與專利權:臺灣新興市場。管理學報,23(1),99-124。new window  延伸查詢new window
71.Anderson, Ronald C.、Reeb, David M.(2004)。Board Composition: Balancing Family Influence in S&P 500 Firms。Administrative Science Quarterly,49(2),209-237。  new window
72.Demsetz, Harold、Lehn, Kenneth(1985)。The Structure of Corporate Ownership: Causes and Consequences。Journal of Political Economy,93(6),1155-1177。  new window
73.Baek, Jae-Seung、Kang, Jun-Koo、Park, K. S.(2004)。Corporate Governance and Firm Value: Evidence from the Korean Financial Crisis。Journal of Financial Economics,71(2),265-313。  new window
74.Morck, Randall、Wolfenzon, Daniel、Yeung, Bernard(2005)。Corporate Governance, Economic Entrenchment and Growth。Journal of Economic Literature,43(3),655-720。  new window
75.鍾喜梅、林佳慧(20090800)。家族集團接班資源與角色鑲嵌關係:網絡觀點之初探。組織與管理,2(2),155-195。new window  延伸查詢new window
76.Miller, D.、Le Breton-Miller, I.、Scholnick, B.(2008)。Stewardship vs. stagnation: an empirical comparison of small family and non-family businesses。Journal of Management Studies,45(1),51-78。  new window
77.Young, Michael N.、Peng, Mike W.、Ahlstrom, David、Bruton, Garry D.、Jiang, Yi(2008)。Corporate Governance in Emerging Economies: A Review of the Principal-Principal Perspective。Journal of Management Studies,45(1),196-220。  new window
78.Gómez-Mejía, Luis R.、Haynes, Katalin Takács、Núñez-Nickel, Manuel、Jacobson, Kathym J. L.、Moyano-Fuentes, José(2007)。Socioemotional Wealth and Business Risks in Family-Controlled Firms: Evidence from Spanish Olive Oil Mills。Administrative Science Quarterly,52(1),106-137。  new window
79.Shleifer, Andrei、Vishny, Robert W.(1997)。A survey of corporate governance。Journal of Finance,52(2),737-783。  new window
80.O'Donnell, Sharon Watson(2000)。Managing foreign subsidiaries: agents of headquarters, or an interdependent network?。Strategic Management Journal,21(5),525-548。  new window
81.Eisenhardt, Kathleen M.(1989)。Agency Theory: An Assessment and Review。The Academy of Management Review,14(1),57-74。  new window
82.Dalziel, Thomas、Gentry, Richard J.、Bowerman, Michael(2011)。An integrated agency-resource dependence view of the influence of directors' human and relational capital on firms' R&D spending。Journal of Management Studies,48(6),1217-1242。  new window
83.Jensen, Michael C.、Meckling, William H.(1976)。Theory of the firm: Managerial behavior, agency costs and ownership structure。Journal of Financial Economics,3(4),305-360。  new window
84.Tsai, Wenpin(2001)。Knowledge Transfer In Intraorganizational Networks: Eflfects Of Network Position And Absorptive Capacity On Business Unit Innovation And Performance。Academy of Management Journal,44(5),996-1004。  new window
85.Geringer, J. M.、Frayne, C. A.(1990)。Human Resource Management and International Joint Venture Control: A Parent Company Perspective。Management International Review,30,103-120。  new window
86.Granovetter, M.(1995)。Coase revisited: Business groups in a modern economy。Industrial and Corporate Change,4,93-140。  new window
87.Sambharya, R. B.、Banerji, K.(2006)。The effect of Keiretsu affiliation and resource dependencies on supplier firm performance in the Japanese automobile industry。Management International Review,46(1),7-37。  new window
88.Levy, Marc(2009)。Control in Pyramidal Structures。Corporate Governance: An International Review,17(1),77-89。  new window
89.Yeung, H. W. C.(2000)。Limits to the Growth of Family-Owned Business? The Case of Chinese Transnational Corporations from Hong Kong。Family Business Review,13(1),55-70。  new window
會議論文
1.Young, M. N.、Peng, M. W.、Ahlstrom, D.、Bruton, G. D.(2002)。Governing the corporation in emerging economies: A principal-principal perspective。The annual meeting of Academy of Management。Denver, CO。  new window
研究報告
1.Ang, A. E.、Masulis, R. W.、Pham, P. K.、Zein, J.(2018)。Internal capital markets in family business groups during the global financial crisis。  new window
2.Claessens, S.、Djankov, S.、Fan, J. P. H.、Lang, L. H. P.(1999)。Corporate diversification in East Asia: The role of ultimate ownership and group affiliation。Washington, DC:World Bank。  new window
學位論文
1.Biggart, T.(1997)。The effects of just-in-time system adoption of firm performance(博士論文)。Florida State University。  new window
圖書
1.Miller, D.、Le-Breton-Miller, I.(2005)。Managing for the Long Run: Lessons in Competitive Advantage from Great Family Businesses。Boston:Harvard Business School Press。  new window
2.Allison, Paul D.(2005)。Fixed effects regression methods for longitudinal data using SAS。Cary, NC:SAS Institute。  new window
3.Bolger, Niall、Laurenceau, Jean-Philippe(2013)。Intensive longitudinal methods: An introduction to diary and experience sampling research。Guilford Press。  new window
4.Gerlach, Michael L.(1992)。Alliance Capitalism: The Social Organization of Japanese Business。Berkeley, CA:University of California Press。  new window
5.Rabe-Hesketh, S.、Skrondal, A.(2008)。Multilevel and Longitudinal Modeling Using Stata。STATA Press。  new window
6.Pfeffer, Jeffrey、Salancik, Gerald R.(1978)。The external control of organizations: A resource dependence approach。Harper and Row Publishers, Inc。  new window
7.中華徵信所(1998)。台灣地區集團企業研究。台北:中華徵信所。  延伸查詢new window
8.Khurana, Rakesh(2002)。Searching for a Corporate Savior: The Irrational Quest for Charismatic CEOs。Princeton, NJ:Princeton University Press。  new window
圖書論文
1.Hamilton, Gary G.(1997)。Organization and Market Processes in Taiwan's Capitalist Economy。The Economic Organization of East Asian Capitalism。Thousand Oaks, CA:Sage。  new window
2.Aoki, M.(1994)。The Japanese firm as a system of attributes: A survey and research agenda。The Japanese firm: Sources of competitive strength。New York:Oxford University Press。  new window
 
 
 
 
第一頁 上一頁 下一頁 最後一頁 top
:::
無相關著作
 
QR Code
QRCODE