Matches in SemOpenAlex for { <https://semopenalex.org/work/W3122137316> ?p ?o ?g. }
Showing items 1 to 99 of
99
with 100 items per page.
- W3122137316 abstract "We examine the stock market reaction to the announcement of outside director appointments in Taiwan. We employ a sample of 58 outside director announcements made by Taiwan Stock Exchange listed firms during the period 1 January, 1999 to 30 June, 2003. Using this data, we can test some important hypotheses regarding the role of outside directors in conjunction with other conditions for corporate performance in affecting the stock market reactions. Our empirical findings indicate that there exists a significantly positive reaction to the announcements. The cumulative abnormal returns ---one indicator of stock market reaction measured by using the methodology of market model based event study --- reached 4.776%. We also find that the abnormal returns are positive and higher with respect to each of the following characteristics: poorer prior corporate performance, the CEO as chairman of the board, larger free cash flow and a higher degree of information asymmetry. Further, we find that the announcement effect is decreasing as number of outside directors increases. Our findings are different from existing literature, for instance, those of Lin, Pope and Young (2003) and Rosenstein and Wyatt (1990) mainly because the outside director appointment is not mandatory in Taiwan. This suggests that the announcement effects could be different across countries. The appointment appears to be more beneficial for a country with poor corporate governance mechanisms." @default.
- W3122137316 created "2021-02-01" @default.
- W3122137316 creator A5036260714 @default.
- W3122137316 creator A5036975000 @default.
- W3122137316 creator A5055123678 @default.
- W3122137316 creator A5063779141 @default.
- W3122137316 date "2006-05-01" @default.
- W3122137316 modified "2023-09-27" @default.
- W3122137316 title "Does the Appointment of the Outside Director Increase Firm Value? The Evidence from Taiwan" @default.
- W3122137316 hasPublicationYear "2006" @default.
- W3122137316 type Work @default.
- W3122137316 sameAs 3122137316 @default.
- W3122137316 citedByCount "0" @default.
- W3122137316 crossrefType "posted-content" @default.
- W3122137316 hasAuthorship W3122137316A5036260714 @default.
- W3122137316 hasAuthorship W3122137316A5036975000 @default.
- W3122137316 hasAuthorship W3122137316A5055123678 @default.
- W3122137316 hasAuthorship W3122137316A5063779141 @default.
- W3122137316 hasConcept C10138342 @default.
- W3122137316 hasConcept C106159729 @default.
- W3122137316 hasConcept C111472728 @default.
- W3122137316 hasConcept C121087249 @default.
- W3122137316 hasConcept C121955636 @default.
- W3122137316 hasConcept C127413603 @default.
- W3122137316 hasConcept C12958728 @default.
- W3122137316 hasConcept C138885662 @default.
- W3122137316 hasConcept C144133560 @default.
- W3122137316 hasConcept C151730666 @default.
- W3122137316 hasConcept C162324750 @default.
- W3122137316 hasConcept C163428354 @default.
- W3122137316 hasConcept C166052673 @default.
- W3122137316 hasConcept C185592680 @default.
- W3122137316 hasConcept C198531522 @default.
- W3122137316 hasConcept C200870193 @default.
- W3122137316 hasConcept C204036174 @default.
- W3122137316 hasConcept C2779343474 @default.
- W3122137316 hasConcept C2780299701 @default.
- W3122137316 hasConcept C2780334105 @default.
- W3122137316 hasConcept C2780762169 @default.
- W3122137316 hasConcept C39389867 @default.
- W3122137316 hasConcept C4249254 @default.
- W3122137316 hasConcept C43617362 @default.
- W3122137316 hasConcept C556758197 @default.
- W3122137316 hasConcept C78519656 @default.
- W3122137316 hasConcept C86803240 @default.
- W3122137316 hasConceptScore W3122137316C10138342 @default.
- W3122137316 hasConceptScore W3122137316C106159729 @default.
- W3122137316 hasConceptScore W3122137316C111472728 @default.
- W3122137316 hasConceptScore W3122137316C121087249 @default.
- W3122137316 hasConceptScore W3122137316C121955636 @default.
- W3122137316 hasConceptScore W3122137316C127413603 @default.
- W3122137316 hasConceptScore W3122137316C12958728 @default.
- W3122137316 hasConceptScore W3122137316C138885662 @default.
- W3122137316 hasConceptScore W3122137316C144133560 @default.
- W3122137316 hasConceptScore W3122137316C151730666 @default.
- W3122137316 hasConceptScore W3122137316C162324750 @default.
- W3122137316 hasConceptScore W3122137316C163428354 @default.
- W3122137316 hasConceptScore W3122137316C166052673 @default.
- W3122137316 hasConceptScore W3122137316C185592680 @default.
- W3122137316 hasConceptScore W3122137316C198531522 @default.
- W3122137316 hasConceptScore W3122137316C200870193 @default.
- W3122137316 hasConceptScore W3122137316C204036174 @default.
- W3122137316 hasConceptScore W3122137316C2779343474 @default.
- W3122137316 hasConceptScore W3122137316C2780299701 @default.
- W3122137316 hasConceptScore W3122137316C2780334105 @default.
- W3122137316 hasConceptScore W3122137316C2780762169 @default.
- W3122137316 hasConceptScore W3122137316C39389867 @default.
- W3122137316 hasConceptScore W3122137316C4249254 @default.
- W3122137316 hasConceptScore W3122137316C43617362 @default.
- W3122137316 hasConceptScore W3122137316C556758197 @default.
- W3122137316 hasConceptScore W3122137316C78519656 @default.
- W3122137316 hasConceptScore W3122137316C86803240 @default.
- W3122137316 hasLocation W31221373161 @default.
- W3122137316 hasOpenAccess W3122137316 @default.
- W3122137316 hasPrimaryLocation W31221373161 @default.
- W3122137316 hasRelatedWork W1152483659 @default.
- W3122137316 hasRelatedWork W1501399628 @default.
- W3122137316 hasRelatedWork W1560825839 @default.
- W3122137316 hasRelatedWork W1794684194 @default.
- W3122137316 hasRelatedWork W1973331032 @default.
- W3122137316 hasRelatedWork W2039607119 @default.
- W3122137316 hasRelatedWork W2068404874 @default.
- W3122137316 hasRelatedWork W2103763020 @default.
- W3122137316 hasRelatedWork W2143642803 @default.
- W3122137316 hasRelatedWork W2160618051 @default.
- W3122137316 hasRelatedWork W2180223471 @default.
- W3122137316 hasRelatedWork W2187464343 @default.
- W3122137316 hasRelatedWork W2367724543 @default.
- W3122137316 hasRelatedWork W2896738576 @default.
- W3122137316 hasRelatedWork W2989225717 @default.
- W3122137316 hasRelatedWork W3121245982 @default.
- W3122137316 hasRelatedWork W2183253387 @default.
- W3122137316 hasRelatedWork W2291927300 @default.
- W3122137316 hasRelatedWork W3121966251 @default.
- W3122137316 hasRelatedWork W79727062 @default.
- W3122137316 isParatext "false" @default.
- W3122137316 isRetracted "false" @default.
- W3122137316 magId "3122137316" @default.
- W3122137316 workType "article" @default.