题名

家族企業與政治關係對負債資金成本的影響

并列篇名

The Impact of Family Business and Political Connection on the Cost of Debt

DOI

10.6295/TAMJ.202008_20(2).0003

作者

翁慈青(Tzu-Ching Weng)；葉依諭(I-Yu Yeh)；王祥宏(Hsiao-Hung Wang)

关键词

家族企業 ； 政治關係 ； 負債資金成本 ； family business ； political connection ； cost of debt

期刊名称

台灣管理學刊

卷期/出版年月

20卷2期（2020 / 08 / 01）

页次

45 - 75

内容语文

繁體中文
中文摘要

本研究旨在探討台灣上市、上櫃公司，家族企業與政治關係對負債資金成本的影響。實證結果發現，家族企業有較低的負債資金成本；進一步加入家族企業具有政治關係因素後，家族企業與政治關係之交乘項僅達到邊際顯著。然而，不同政治關係可能對負債資金成本造成不同影響，本研究發現，代表家族企業之政治關係中，有擔任民意代表之董事會成員可以有效的降低負債資金成本。
英文摘要

The purpose of this study is to investigate the impact of family business and political connection on the cost of debt. Using Taiwan Stock Exchange data, the findings show that family firms have lower cost of debt, indicating that creditors perceive family firms facing lower default and operating risk. Additionally, this study tests the impact of political connection on cost of debt in family firms and find that directors in family firms who act as elected representative can effectively reduce the cost of debt.
主题分类 社會科學 > 管理學
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被引用次数
  1. 葉立仁(2022)。家族控制對於企業財務績效的影響路徑分析：以研發密集度與負債比率為中介變數。會計與公司治理，17(1)，1-30。
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