Title page for etd-0623117-150622


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URN etd-0623117-150622
Author Jhuan-Yu Shih
Author's Email Address No Public.
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Department Finance
Year 2016
Semester 2
Degree Master
Type of Document
Language English
Title The Value of Implementing Enterprise Risk Management: Empirical Evidence from Taiwan Finance Industry
Date of Defense 2017-06-30
Page Count 70
Keyword
  • Treatment effect model
  • Cost efficiency
  • Revenue efficiency
  • DEA
  • ERM
  • Abstract The primary purpose of this study is to examine whether firms in Taiwan are beneficial from ERM adoption, and how much value it creates from ERM activity. We first use treatment effect model to estimate the effect of ERM on firm’s value. Subsequently, we investigate which aspects of ERM add value by using cost and revenue efficiency as dependent variables. Finally, we separate our sample into four groups to see the different influences of implementing ERM on four sorts of firms. The sample is for the period between 1991 to 2016 and composed of 73 firms belonging to the Financial and Insurance Industry Index compiled by TWSE.
    The coefficient indicates that firm implements ERM program would benefit from adding approximately 5.45% value than those who don't. Also, the adoption of ERM significantly helps a firm improve revenue efficiency by 16.06%; while reducing cost efficiency by 11.7%. The results of cost efficiency and revenue efficiency in each sub-industry are not the same, showing that the impacts of ERM among sub-industries vary.
    Advisory Committee
  • Shih-Kuei Lin - chair
  • Chih-Yung Lin - co-chair
  • Jen-Jsung Huang - co-chair
  • Wei-Che Tsai - advisor
  • Files
  • etd-0623117-150622.pdf
  • Indicate in-campus at 99 year and off-campus access at 99 year.
    Date of Submission 2017-07-23

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