A Study of Restricted Stocks

• Main Authors: Yeh,Chih-Hsin, 葉芷欣
• Other Authors: Chang, Hsin-Ti
• Format: Others
• Language: zh-TW
• Published: 2014
• Online Access: http://ndltd.ncl.edu.tw/handle/12396641118425571547

碩士 === 國立臺北大學 === 法律學系一般生組 === 102 === Apart from the employee bonus, employee stock bonus, employee stock owner-ship, and employee stock option, employee restricted stock was introduced in the Company Act of Taiwan in 2011; It is likely that such introduction of employee restricted stock will make employee compensation mechanisms in Taiwan more complete. In the hope of reaching the balance between employers and employees, the purpose of the employee compensation mechanisms is to inspire the motivation of the employees, and to increase their sense of organizational identification and organizational commitment to the enterprise. Following the trend in the world and hoping to help the Taiwanese industries to attract and retain the talents through employee com-pensation mechanisms, the Government in Taiwan has amended “ The Regulations Governing the Offering and Issuance of Securities by Securities Issuers” on September 17th, 2012. Such amendement aimed to solve the legal restrictions on the aggregated amount of restricted stock issued and the amount vested to single employee in practice. However, it is still unclear that whether the new regulations makes the employee restricted stock better and if it really encourages the industries to use the mechanism or not. Despite the fact that the employee restricted stock has been existed in Taiwan, there is still a room for improvements in terms of the regulations regarding the type and target of issuance. This research first explores the existing employee compensation mechanism regulations in Taiwan, and analyzes the restricted stock and practical statistics in the US, then finally studies the regulations of the restricted stock and the related empirical studies in Taiwan. Building upon the laws and regulations of United States, this research attempts to provide some suggestions, for example, the type of issuance , target of issuance, method of issue and the dividend equivalent rights. It is hoped that this research would makes the employee restricted stock in Taiwan a better tool for companies to encourage their employees.