BOARD INDEPENDENCE, FAMILY CONTROL, AND PERFORMANCE IN TAIWANESE LISTED SEMICONDUCTOR COMPANIES

Qian Long Kweh, Kuo-Cheng Kuo, Wei-Kang Wang and Hsian-Ming Liu

Hitotsubashi Journal of Economics, 2015, vol. 56, issue 1, 93-115

Abstract: We examine the relationship between board independence, family control, and operating efficiency, and the moderating effect of family control on the relationship between board independence and operating efficiency. We apply the dynamic slacks-based measure (DSBM) model to estimate operating efficiency. Using a sample of 42 Taiwanese listed semiconductor companies for the period 2005-2012, we employ truncated regression with a bootstrapping procedure for multivariate analysis. The presence of board independence is significantly positively related to operating efficiency. Family control has a negative impact on operating efficiency. The positive effect of board independence on operating efficiency is significantly weakened in family companies.

Keywords: board independence; family control; dynamic data envelopment analysis; truncated regression; Taiwanese semiconductor industry (search for similar items in EconPapers)
JEL-codes: G3 G32 L22 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:hit:hitjec:v:56:y:2015:i:1:p:93-115

DOI: 10.15057/27192

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