Family Control and Pyramid Structure: A Preliminary Study by Family Business Groups in Taiwans Teztile and Construction Investment Industry
This study examines the pyramid structure and deviation between control rights and cash flow rights by investigating four family business groups in Taiwans textile and construction investment industry, respectively. From agency theory viewpoint, this study finds that those family business groups on these two industries all utilize pyramid structures to enhance family control when the groups scales and scopes grow during the 1992 to 2004 time period. The pyramid structure of those family business groups in construction investment industry reveals a progressively increasing tendency during the time period; moreover, the average degree of pyramid structures by those family business groups in this industry is higher than those ones in textile industry. The degree of deviation by those family business groups in these two industries is similar to each other. The finding in this study can provides preliminary comparative start-point in discussing control and coordination issues in family business groups. Furthermore, it also provides referable values in discussing the family business groups in Great China societies.
Business Group Pyramid Structure Degree of Deviation Agency Theory
Shu-Ting CHAN Hsi-Mei CHUNG Kuang S. Yeh
Dep. of Business Management, National Sun Yat-sen University, Kaohsiung, Taiwan, R.O.C., 80424 Dep. of Business Administration, I-Shou University, Kaohsiung, Taiwan, R.O.C., 84041
国际会议
The 5th International Sympsium for Corporate Governance(第五届公司治理国际研讨会)
天津
英文
1041-1046
2009-09-01（万方平台首次上网日期，不代表论文的发表时间）