銀行業董事會特質如何影響信用評等？

How Do Characteristics of The Board Affect A Bank’s Credit Rrating?

李貴富(Kuei-Fu Li)；廖懿屏(Yi-Ping Liao)；翁偉傑(Wei-Jie Weng)

董事會特質 ； 信用評等 ； 銀行業監理 ； Board of Directors ； Credit Ratings ； Bank Regulation

會計學報

6卷2期（2016 / 05 / 01）

39 - 54

繁體中文

董事會是公司內部管理核心，其特質以往認為與公司績效有顯著關聯，而信用評等則是資本市場參與者評估金融業優劣時的重要指標，不過，董事會特質是否影響信用評等？以金融業為研究對象之研究寥寥無幾，且定論不一，故本研究探討金融業之董事會特質是否會影響信用評等。對象為台灣銀行業公司於2008年至2012年資料，研究結果發現，董事會規模較大、獨立董事較多、董事長兼任總經理、平均任期較長、或外部兼任情形較低，該銀行之風險傾向較保守，且績效波動度較低，故信用評等較佳。本篇為國內首篇金融業樣本之研究，且實證結果可供債權人決策參考與管理機關規範金融業時給予額外考量。

The board plays a critical role in managing a firm, and its characteristics are considered to affect the firm performance. Meanwhile, credit ratings are usually influential when the capital market participants evaluate a bank’s competitiveness. However, how do characteristics of the board affect a bank’s credit rating? Existing literature provides limited and inconclusive evidence. Based on data from Taiwan banks from 2008 to 2012, this study shows that when the board size is large, the percentage of independent directors is higher, the board chairman is also the CEO, the average tenure is longer, or the outside multiple directorship is less severe, the bank is assigned a better credit rating. This study is the first one to focus on how characteristics of the board affect a bank’s credit rating, and the empirical findings are insightful when the regulator oversees the soundness of a bank’s governance structure.

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