集團多角化與資訊透明度之關聯探討;The Relation between Group Diversification and Information Transparency

[[abstract]]國內集團企業的比例相對高於其他國家，然集團企業對我國經濟影響重大，其資訊揭露的品質關乎許多投資者以及利害關係人之權益。集團企業常以多角化策略為主要之經營手段，資訊的複雜程度因此又增加了不少，相關之議題是值得去注意與探討的。本研究以2005年至2014年之上市、上櫃集團企業為研究對象，探討集團企業實施多角化策略的程度與集團企業資訊透明度之關聯性。主要將多角化策略分類為垂直性多角化策略與互補性多角化策略，並分別探討之。實證結果顯示，在這十年內的集團企業，實施互補性多角化策略的程度越高，集團越傾向於揭露較少之資訊予外部資訊使用者，使之無法及時掌握集團之資訊。而集團企業實施垂直性多角化策略者，實施多角化策略的程度與資訊透明度之間之關係則不顯著。 This study aims to explore the relationship between group diversification and information transparency during 2005 through 2014. The empirical result shows that group companies with greater complementary diversification are less likely to disclosure adequate information to their stakeholders. The other result shows that group companies with greater vertical diversification are likely to show information to their stakeholders. But this result is not significant, the relationship between vertical diversification and information transparency is not clear