標題: | INDUSTRY COMPETITION, AGENCY PROBLEM, AND FIRM PERFORMANCE |
作者: | Wang, Sue-Fung Jou, Yow-Jen Chang, Ke-Chiun Wu, Kun-Wei 資訊管理與財務金融系 註:原資管所+財金所 Department of Information Management and Finance |
關鍵字: | industry competition;agency problem;country-level governance |
公開日期: | 1-一月-2014 |
摘要: | The study investigates the relationship between industry competition and firm performance in relation to agency problem conditions. At the same time, the literature also stated that different levels of national corporate governance have different impacts on corporate performance. We also investigate whether or not the relation between industry competition and firm performance would be different under different levels of agency problem. Our empirical results show that the positive relation between industry competition and firm performance is relatively significant for firms with higher free cash flows that present severe agency problems. The results do not change under different levels of national corporate governance. |
URI: | http://hdl.handle.net/11536/124299 |
ISSN: | 1582-6163 |
期刊: | ROMANIAN JOURNAL OF ECONOMIC FORECASTING |
Volume: | 17 |
起始頁: | 76 |
結束頁: | 93 |
顯示於類別: | 期刊論文 |