A Study on Operation of Board and Corporate Governance –The IPO Corporations Listed on OTC by The New Rules

• Main Authors: Ming-Chung Yu, 余明忠
• Other Authors: none
• Format: Others
• Language: zh-TW
• Published: 2008
• Online Access: http://ndltd.ncl.edu.tw/handle/nr742g

碩士 === 國立東華大學 === 企業管理學系 === 96 === Corporate governance caused highly focus by international society recently resulted from 1997 Asia financial crisis, then America companies (Enron and Worldcom) ancial scandals which drive America’s determination to expedite corporate governance improvement. Taiwan also suffered from financial scandals from many companies from Procomp Informatics, Infodisc, and Rebar Group) which damaged investors’ interest and caused many attentions on corporate governance related matters. This study is through corporate governance practices comparison between two nations corporate governance benchmark companies. The study is trying to propose the improvement directions to enhance Taiwan corporate governance performance. The proposed directions include short, mid, and long term approach as follow: Short: conduct internal control self-assessment; implement standards of business conduct; announce company directors’ compensation. Mid: launch BOD performance appraisal mechanism; set up BOD functional committee; set up company blackout name list. Long: BOD assignment term and rotation; independence director increase, lower share requirement on BOD members. Taiwan’s corporate governance is of similar standards as that in advanced countries. However, the above situation suggests that if operators do not improve ethical values, however sound corporate governance is, operators will look for loopholes to their advantage.Most importantly, corporate culture and operators’ values should be rectified, in order for companies to make a sincere effort in enforcing corporate governance.