| Summary: | 碩士 === 國立中央大學 === 產業經濟研究所在職專班 === 102 === According to the second item from one of the article 197 in the year 2011 amended version of company law for pledge provisions of director, the reason for amending this law is eliminating the business owners to hype the stock's motivation and undesirable trend, preventing directors and supervisors' excessive expansion of credit and avoiding multiple credit extension. Thereby, improving the capital market and strengthening corporate governance. Although its evidence that the pledged shares ratio is associated with firms’ performance, it does not mean it will absolutely affect directors pledge to bad firms’ performance. They are not mutually reinforcing. If the voting rights of the directors pledge to be limited comprehensively, which will lead to the shareholders' resolution of decent operating 's companies.
This research has found the deficiencies of the second item from one of the article 197 of company law, non each of director pledge's voting rights should be limited. However, if there is any company has mismanagement sign, then it is needed to be limited. What is more, not only corporate directors, but also solicit people should be limited as well. There should be a strict norm during the period of counting the number of shares. There should have a complementary measures to avoid the flaw of director and share pledge to affect the voting right, so that the purpose can be reached. In the final chapter is conclusions, expecting to comprehend the deficiencies of this law, then providing another thinking direction and legislative proposals.
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