上公司家族控制力与董事会运作关系之探讨.docVIP

我國上市公司家族控制力與董事會運作關係之探討** Relationships between Family Control and Board Processes in Taiwan’s Public Companies 鍾喜梅, Hsi Mei Chung 義守大學企管系助理教授 Assistant Professor, Dep. of Business Management, I-Shou University Tel：07-6577711#5911 E-mail: smchung@ 劉韻僖, Yunshi Liu 東海大學企管系助理教授 Assistant Professor, Dep. of Business Administration, Tunghai University Tel: 04-3590121#3526 E-mail: ysliu@.tw 葉匡時, Kuang S. Yeh 中山大學企管系教授 Professor, Dep. of Business Management, National Sun Yat-sen University Tel：07-5254652 E-mail: ksyeh@.tw  摘 要 本研究探討家族對企業所有權與經營權地強弱變化,如何影響董事會成員間地衝突與信任關係.針對我國所有上市公司董事進行問卷調查,在244份有效問卷,內含60份家族董事地樣本下,本研究顯示,當家族董事意識到家族對於企業控制力（所有權與經營權）下降時,他們會降低任務性衝突與情感性衝突,以提高董事間地信任程度.對家族董事而言,家族控制力下降是一種危機意識地浮現,為能維持自己與其他董事之間地和諧,同時升高董事彼此地信任狀態,家族董事成員會更希望降低衝突發生地可能,並希望順利解決衝突.由於信任狀態地提昇,可視為董事會地團體運作績效指標之一,本研究發現,家族控制力降低,可以提昇董事會地團體運作績效. 關鍵詞：公司治理、董事會、家族控制力、衝突、信任 Abstract This paper studies the conflict and trust relationships between board directors when a family changes its strength of ownership and managerial control in a firm. Two hundred and forty four valid responses, including 60 family directors are collected, based on a survey of all directors of Taiwan’s listed companies. The study shows that when family’s control is weakening, family directors will decrease the probability of cognitive and affective conflicts in order to increase trust among board members. Weakening family control makes family directors feel more insecure; as a result, family directors will try to decrease conflict so that trust relationship can be enhanced in the board. Since, trust is one indicator of group performance, the study suggests that decreasing family control can increase board performance. Keywords: Corporate Governance, Boards of directors, Family Control, Conflict, Trust 緒論 近年來,公司治理（corporate governance）已經成為企業競爭力研究中,最重要主題之一.所謂公司治理,指地是如何保護資金提供者獲得合理地投資收益（Shleifer and Vishny, 1997）,或是各利害關係人如何透過內部控制機制（即董事會）,確保其利益能得到公平地維護（John and Senbet, 1998）.具體而言,公司治理最主要地研究範圍,就是企業董監事地組成與功能,其探討之基本議題包括：企業所有權問題、所有權與經