公司治理概述

公司治理概述 This manuscript was revised on November 28, 2020

1前言1 2公司治理概述1

2.1定义1

2.2范围2

2.3重要性2

3我国公司治理架构3

3.1公司治理相关法令规范3

3.2公司治理机制之设计3

3.3我国公司治理之特性4

3.3.1 市场结构概述4

3.3.2 所有权与经营权已渐分离之趋势4

3.3.3 企业集团的特性5

3.3.4 企业交叉持股严重5

3.3.5 海外投资的增加6

3.3.6 散户为主的特性6

3.4国内公司治理之重要议题7

4公司治理之执行现况7

4.1董事会7

4.1.1 组成8

4.1.2 职权8

4.1.3 制衡9

4.2监察人10

4.2.1 组成10

4.2.2 职责11

4.2.3 独立性11

4.2.4制衡11

4.3股东会12

4.3.1 股东的权利12

4.3.2 小股东之监督12

4.3.3 徵求委托书13

4.4资讯透明化14

4.4.1 发行市场之资讯公开14

4.4.2 交易市场之资讯公开14

4.4.3 加强年报公司治理资讯揭露15

4.4.4 关系企业的资讯揭露16

4.4.5 资讯公开管道17

4.4.6 资讯揭露评监系统17

4.5归入权18

5我国公司治理之发展方向19

5.1导入独立董事、独立监察人制度19

5.2制定公司治理实务守则20

5.3公司法於2001年大幅修订，加强对公司治理之

21规范

5.3.1 增订公司负责人「忠实义务」21

5.3.2 禁止母子公司交叉持股21

5.3.3 董事、监察人不以具有股东身分为必要22

5.3.4 放宽公开发行公司公告管道22

5.3.5 监察人得列席董事会陈述意见22

5.3.6 放宽股东提起代位诉讼的门槛22

5.4建立独立董监事人才资料库23

5.5加强董事、监察人於任期内之持续进修23

5.6加强保障股东权措施23

5.7健全公开收购制度24

5.8揭露涉及不法行为之董事、监察人名单24

5.9证期会公司治理推动小组工作重点24

6证期会在推动公司治理中的角色25

6.1推动上市上柜公司建立独立董事、监察人制度25

6.2强化资讯揭露25

6.2.1 加速年度财务报告公开时点25

6.2.2 修正财务预测制度25

6.2.3 揭露员工红利相关资讯26

6.3 强化企业会计制度26

6.3.1 召开分组会议改善会计制度26

6.3.2 不良债权出售损失应提列特别盈余公积27

6.4建立外部制衡机制27

6.5内部控制制度及财务业务专案查核27

6.6督促公司重视并落实执行公司治理28

6.7制定「证券投资人及期货交易人保护法」28

附录一公开发行公司应公告或本会申报事项一览表

附录二内部人短线交易归入权案件概况表

Table of Content

1Preface1 2Concept of Corporate Governance1

2.1Definition1

2.2Extent2

2.3Significance2 3Framework of Corporate Governance in Taiwan2

3.1Regulatory Scheme3

3.2Regulatory Device3

3.3Characteristics of Corporate Governance in Taiwan3

3.3.1 Taiwan’s Market Features3

3.3.2 Trend of Separating Ownership and Control3

3.3.3 Environment of Group Operation5

3.3.4 Cross Shareholding Scenario6

3.3.5 Development of Foreign Investment6

3.3.6 Passive Role Play of Institutional Investor7

3.4Present Issue of Corporate Governance in Taiwan8 4Implementation of Corporation Governance9

4.1Board of Directors9

4.1.1 Composition9

4.1.2 Duties and Responsibilities10

4.1.3 Mechanisms for Controlling Board10

4.2Supervisor (Supervisory Board)12

4.2.1 Composition12

4.2.2 Duties and Responsibilities13

4.2.3 Independence14

4.2.5Mechanisms for Supervisors14

4.3Meeting of Shareholders15

4.3.1 The Role of Shareholder15

4.3.2 Minority Shareholders’ Monitoring16

4.3.3 Proxy Solicitation17

4.4Disclosure and Transparency17

4.4.1 Dissemination of the Primary Market

Information

4.4.2 Disclosure of the Secondary Market Information18

4.4.3 Corporate Governance Disclosure in Annual

Report

4.4.4 Disclosure of Affiliated Corporations20

4.4.5 Public Disclosure System20

4.4.6 Information Disclosure Raking System21

4.5Disgorgement again Insider’s Short-Swing Profit22 5Perspectives on Corporate Governance22

5.1Independent Directors and Independent Supervisors23

5.2Taiwan Corporate Governance Code24

5.3Reform of the Company Law and Good Corporate

Governance

5.3.1 Duty of Loyalty25

5.3.2 Abolishing the Limitation of Director or

Supervisor as Shareholders

5.3.3 No Cross-shareholding among Affiliated

Corporations

5.3.4 Attendance of Supervisors in the Board of

Directors

5.3.5 Improvement of Derivative Suit26

5.3.6 Strengthening Public Disclosure System26

5.4Database for Independent Members26

5.5Orientation and Training of Directors and Supervisors27

5.6Invitation to the Shareholder Meeting, Proxies27

5.7Improve Administrative Procedure of Tender Offer27

5.8Publicize the Names of Directors and Supervisors with

Illegal Acts

5.9Possible Areas of Further Reform28

6The Role of SFC in Corporate Governance29

6.1Promoting the System of Independent Directors and

Independent Supervisors

6.2Improving Transparency29

6.2.1 Earlier Announcement of Annual Financial

Reports

6.2.2 Amend the Regulations of Financial Forecasts 29

6.2.3 Disclosure the Information of Employees

Bonuses

6.3 Upgrading Accounting System of Public Companies30

6.3.1 Form a Reform Committee to Improve Accounting

30 System

6.3.2 Set Aside Losses on Sale of Non-Performing

Loans as Special Reserve

6.4Introducing More Institutional Investors31

6.5Enhancing Internal Control and Audit Systems of

Public Companies

6.6Encourage Companies to Implement Corporate Governance31

6.7Enact “Securities Investors and Futures Traders

32 Protection Law”

Appendix I Information Disclosure and Filing Requirements for Public Companies

Appendix II List of Short-Swing Profit Disgorgement Against Insiders

(1994-2003)