| 摘要註: |
公司治理崛為世界經濟風尚，及公司法制聚焦的討論議題，蓋由於近年來全球接連爆發公司管理經營危機所致。企業經營與國家經濟發展密不可分且早已跨越國界，隨著全球化的影響所及，如何在蝴蝶效應下趨吉避凶，各國政府無不劍及履及調整因應並改善相關公司治理機制，是以，公司治理隱然成為全球化的趨勢。對此潮流趨勢，我國在尋求與國際接軌時，從國內學術研究到國際交流評比的過程中，除策勵亦步亦趨迎頭趕上外，猶需因地制宜，取其截長補短之利，避免橘逾淮為枳之害。亞洲1997年發生金融風暴後，接著美國2001年發生安隆案（Enron）、2002年發生世界通訊（World Com）企業之會計交易醜聞。台灣亦於2004年發生博達、太電等事件、2006年發生力霸等案，接續的企業風暴，既侵害了股東權益，影響投資意願，造成台灣接軌國際立足世界舞台的頓挫。就企業經營之董事責任而論，董事是實質上企業經營的核心。董事乃是依法由股東會所選任，實質參與董事會運作的企業經營者，基於公司委任處理公司業務經營之法律關係，董事應以善良管理人之注意義務，並忠實執行其職務，為理所當然。檢視上述博達、力霸等企業弊端的發生，不難發現它們都有著類似的原因，諸如董監事皆為自家人或家臣，具有家族化的企業特性，虛設人頭公司利用關係企業五鬼搬運，虛列不實會計帳目，掏空母子公司的資產，恣意公司核心股東或董監事自肥，及以內線交易坑殺散戶小股東等，再再凸顯公司治理的重要性，已成為廿一世紀政府、人民及企業間都必須面對的課題。為尋求有效解決途徑，除借鏡國際經濟合作暨發展組織（Organisation for Economic Co-operation and Development, OECD），於1999年及2004年，公布公司治理準則（Principles of Corporate Governance）中關於董事會責任（ The responsibility of the board）：董事會應負注意與忠實之義務，執行審查並指引公司政策、主要行動綱領、風險管理策略、年度預算與營業計劃等、選任主要經理人、敘薪及監督、確保並稽核公司之財務與會計之真實及監控、對公司治理績效之監控、監督資訊揭露與溝通之程度等參考架構外，另就國內企業股東、董事及監察人企業統御結構（governance structure）、權能分立與企業所有與企業經營分離原則為探討，俾落實健全公司治理，避免重蹈監督機制失靈與經營不善之覆轍。此外，我國公司法自2005至2012年，不過數年時間已修正九次，修訂包含股東表決權之行使、董監候選人提名制度、股東提案權及公司重整制度等。證券交易法亦配合修正八次，使我國既有之公司法制能迅速切合社會實務之需要，並迎合國際潮流。然我國歷年來多次修正能否達成興利防弊之功效，仍值進一步探究。本文試藉由公司法所正視的企業經營誘因與監控之務實觀點，分析董事制度之監控設計，試圖從改善企業的董監事組成與運作，強化企業倫理職能並督促其實現，以降低少數企業主「五鬼搬運」上市公司資產的機會。同時探討公司法修正後新增之獨立董事、審計委員會制度，於我國特殊之商業環境下是否真能達成立法目的，並提供我國現行法制的興革之建議。 Corporate governance has become a trend of the world’s economics and is the focused issue discussed in company laws due to a serial outbreak of business management crises happened worldwide. The enterprise business and national economic development are inseparable and beyond national boundaries. Moreover, as influenced by globalization, in order to avoid impending trouble and to seek good luck under the Butterfly Effect, no governments worldwide have decisively and ravenously rushed to accommodate, response and improve relevant mechanism of corporate governance, therefore, it has implicitly become the globalized tendency. Facing such trend and tendency, ROC is searching for connecting with international trail. During the process, it has been engaging from domestic academic researches to international exchange and appraisal through comparison. Except for encouraging Taiwan enterprises to catch up with the trend step by step, government should also act in accordance with local conditions to receive the benefits of evening up scarcity and superabundance, but prevent the harm like the big and sweet orange which grows small and bitter when it is planted northerly cross the Huai River. After the Asian financial crisis in 1997, American’s Enron case followed in 2001 and next came the scandal of World Com Enterprise’s accounting transaction in 2002. In Taiwan, there were also corruptive events of Boda Technology (International) Limited and Pacific Electric Wire & Cable Co., LTD in 2004. Afterward, the case of Reba Group scandal took place in 2006. All of the serial enterprise corruptions not only hurt the shareholder’s benefits, but also reduce their willingness of investment. As a result, it further frustrated Taiwan’s efforts to connect with international trail and gain a foothold on the world stage. As to the director’s responsibility of enterprise operation, the directors are in fact the core of the enterprise business. They are elected by shareholders according to law and actually the enterprise operators who take part in the operation of the enterprise business based on the legal relationship to be appointed by the company to deal with the business. The directors should base on the noticed obligations of good administrators and faithfully execute their own function as a matter of course. In view of the above corruptions including Boda, Reba and so on, it is not difficult to find that they had similar factors, such as the directors and supervisors were all their own family or retainers, holding the features of family-oriented enterprise, having dummy heads moving company’s assets by relative enterprises like invisible ghosts moving something out, listing false accounting items, empting the assets of the headquarter and its affiliated companies, neglecting knowingly the core shareholders, directors or supervisors who put money on their own pocket, using insider trading to defraud individual small shareholders and so on, all of those situations highlight the importance of corporate governance which has become the issue all the government, people and enterprises must face in 21 century. In order to pursue effective resolvable channel, the study would borrow the referential skeleton from the responsibility of the board in the Principles of Corporate Governance proclaimed by OECD in 1999 and 2004, which including the board should take the obligation of attention and loyalty; execute the examination and guide the company’s policy, main program of action, the policy of risk management, annual budget and business plan; select main managers, determine contracted salary and supervise, ensure and audit the reality and supervision of the company’s finance and accounts, monitor the performance of corporate governance, inspect information disclosure and the degree of communication; besides, the study would also explore the governance structure of domestic enterprises’ shareholders, directors and supervisors; separation of right-power and the principle of separating enterprise’s ownership and right of management, so as to put corporate governance into effect and prevent from repeating the failure of supervisory mechanism and business operation. Besides, the law of Company Act has been revised nine times since 2005 up to 2012. |