国际合资公司治理结构与绩效之关系-制度情境影响效果

摘要

This research attempts to explore corporate governance structures of IJV(International Joint Ven-ture). We first examine various theoretical foundations, to explain the nature and the antecedents of the ultimate owners opportunistic. We think three situations will lead to high uncertainty of the ultimate owner’s behavior, high ratio of board members controlled by the ultimate owners, the ultimate owners as the dual role of chairman and CEO. Following the literature reviews and theoretical developments, we develop a conceptual framework and research hypotheses explaining how that the impact of the institutional environment on the relationship of corporate governance structures and IJV’s performance. We then use public firms having related experience in Taiwan as samples to collect and analyze data to test the hypotheses. We hope the finding will enrich the literature.%本文提出当合资公司控制股东拥有董事会席次比例愈高或同时担任董事长与总经理时，控制股东行为不确定性将会随之升高。在此情况下，合资之地主国制度环境若能有效制约控制股东行为不确定，将会对控制股东的道德风险问题产生制约作用，因此对合资绩效会产生正面效益。综言之，本研究验证地主国制度环境，是否会调节合资公司治理结构与合资绩效之关系。