To Research the Connection Between Repurchase Corporate Shares and Cross Shareholdings Hold-Shares

• Main Authors: Jhen-Ye Su, 粟振業
• Other Authors: Cheih-Shan Chen
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/62094234057604217535

碩士 === 嶺東科技大學 === 財經法律研究所 === 98 === The purpose of this thesis is aimed at improving our present legal system of shares repurchases﹐ helping our country to keep paces with other modem countries﹐and furthermore﹐pushing our enterprises to maintain the flexibility and efficiency and do their best to promote our country's economic development. The referred documents of this thesis include English and Chinese books and periodic﹐and the concerned studying method is comparing the concerning foreign legal systems. In light of the legal systems of shares repurchases in the developed countries﹐they can be roughly divided into American system and European system. The legal basements of our present system are Art. 28-2 of Securities and Exchange Act and Art. 167-1 of Company Law. Although having adopted the European system for such a long time﹐authority changed her mind and transferred to American system in 2001. In recent years﹐cross-ownership is prevailing. Corporations often utilize cross-ownership as a measure to strengthen the management and prevent the board from supervision. While mutual shareholdings between two corporations could have some advantages﹐it does have resulted in some undesired disadvantages. It will reduce the happening of disadvantages when the corporation makes all material matters regarding the corporation disclosed and transparent﹐including the financial situation﹐performance﹐ownership﹐and governance of the company. After the amendment of article 179 of the Corporation Law in 2005﹐the dual system exists within the rules of cross-shareholding corporations and the rules of parent corporation and subsidiary corporation. This thesis mainly studies cross-ownership and cross-voting.