CEO tenure in Taiwanese family and nonfamily firms: An agency theory perspective

Wen Hsien Tsai; Jung Hua Hung; Yi Chen Kuo; Lopin Kuo

doi:10.1111/j.1741-6248.2006.00057.x

CEO tenure in Taiwanese family and nonfamily firms: An agency theory perspective

Wen Hsien Tsai, Jung Hua Hung, Yi Chen Kuo, Lopin Kuo

企業管理學系

研究成果: 雜誌貢獻 › 期刊論文 › 同行評審

111 引文斯高帕斯（Scopus）

摘要

This study investigated the tenure of CEOs in a sample of 304 listed companies in Taiwan; 63 firms were family controlled, 241 were not. The results show that CEO turnover is significantly lower in family firms and its relationship to corporate performance is negative. CEO ownership and board ownership are not significant in explaining the length of family CEO tenure. These findings imply that family boards can still effectively replace the CEO despite relatively low ownership. From the ownership structure perspective, this study suggested that the agency theory is applicable for nonfamily firms in Taiwan, but unsuitable for family firms.

原文	???core.languages.en_GB???
頁（從 - 到）	11-28
頁數	18
期刊	Family Business Review
卷	19
發行號	1
DOIs	https://doi.org/10.1111/j.1741-6248.2006.00057.x
出版狀態	已出版 - 3月 2006

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10.1111/j.1741-6248.2006.00057.x

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CEO tenure in Taiwanese family and nonfamily firms: An agency theory perspective

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