Abstract

ABSTRACTTaking listed and Over-The-Counter (OTC) Taiwanese companies in 2008–2010 as samples, this study divides them two groups – crisis companies and normal companies – and employs Data Envelopment Analysis (DEA) benchmarking models to calculate their operation efficiency values respectively. We then examine the relationship between corporate governance and operation performance. We propose a systematic framework of four input variables and two output variables to test and substantiate the performance of these two groups of companies. Our empirical results show the following:

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