A Review of the Adoption of the Independent Director Mechanism for Listed Corporations in Taiwan
碩士 === 逢甲大學 === 財經法律研究所 === 99 === Taiwan has promoted the Independent Director Mechanism for more than a decade. The Independent Director Mechanism is adopted to achieve the corporate governance purpose for listed companies in Taiwan. This paper focus on objects, methods and results of Taiwan’s pro...
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| Format: | Others |
| Language: | en_US |
| Published: |
2011
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| Online Access: | http://ndltd.ncl.edu.tw/handle/70513138239696367021 |
| Summary: | 碩士 === 逢甲大學 === 財經法律研究所 === 99 === Taiwan has promoted the Independent Director Mechanism for more than a
decade. The Independent Director Mechanism is adopted to achieve the corporate governance purpose for listed companies in Taiwan. This paper focus on objects, methods and results of Taiwan’s promotion of the Independent Director Mechanism through some aspects:
⁃ Dynamic and relative definitions of the Independent Director Mechanism.
⁃ Comparisons of Taiwan with some major countries on context, motive and
methods.
⁃ Review of current state of Taiwan’s adoption of the Independent Director
Mechanism.
⁃ Suggestions to the methods for the purposes.
This paper gives a detail review of the Independent Director Mechanism adopted by Taiwan with current legal regime in Taiwan. Through this review we may find that if mandatory methods to intervene the internal monitoring mechanism of listed companies are necessary. If yes, what will be the appropriate design to comply with the Principle of Necessity? This Paper concludes by proposing a renewed supervisory board. The suggestions are: (1) Taiwan shall adopt the supervisory board mechanism by legislation; (2) The supervisory board should be composed of independent supervisors and labor supervisors; (3) Commissions shall be established under the supervisory board. Such a design is not only more consistent with Taiwan’s current legal regime but also gives listed companies more autonomy on business operations by separating supervision and execution.
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