INDUSTRY COMPETITION, AGENCY PROBLEM, AND FIRM PERFORMANCE

Sue-Fung Wang, Yow-Jen Jou, Ke-Chiun Chang, Kun-Wei Wu

研究成果: Paper同行評審

8 引文 斯高帕斯(Scopus)

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.
原文English
頁面76-93
頁數18
出版狀態Published - 2014

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