薪酬委員會制度實施對我國公司治理之研究-以台灣被動元件產業“P”公司為例

Abstract

公司治理（corporate governance）泛指公司監控所有權的方法，早在1970年代即已出現。1997年亞洲金融危機發生後，「強化公司治理機制」被認為是企業對抗危機的良方。2001年美國安隆案（Enron）後陸續引發的金融危機，而於2002年通過「沙賓法案」監控，及我國於1998年爆發一連串企業掏空舞弊案件，故主管機關於1998年起即開始向國內公開發行公司宣導公司治理之重要性，引導國內企業強化公司治理，提昇國際競爭力。2006年更進一步修訂公司法、證券交易法及其相關法規，將公司治理原則法制化，使其具有法律之約束力。經過2008年的金融風暴到2010年，主管機關行政院金融監督管理委員會，督促企業及金融機構強化公司治理，建立新金融秩序，並於2010年11月增訂證券交易法第14-6條，明定國內上市上櫃及興櫃公司均需設立薪酬委員會。 本研究透過公司治理議題為基礎，參考台灣被動元件產業特性及市場趨勢，依據該議題為構面，找出關鍵要素，並針對個案公司之公司治理及薪酬委員會設置現況進行問卷訪談調查。個案公司為台灣被動元件產業表現優良公司，從研究結果來看，薪酬委員會制度實施對公司治理有正面結果，應可作為其他公司參考，部分表現欠佳事項，提供該公司未來持續努力改善的方向。

The concept, corporate governance, has been emerging since the early 1970’s in response to the perceived lack of effective board oversight that contributed to the poor performance problems. In 1997 there were numbers of scandals and corruption within Asian financial markets that led to severe Asian financial crises. Inadequate corporate governance system has been concluded the major reason suffering the serious consequences on the Asian financial crises. The impact arising from U.S. Enron case has now put the issue under a spotlight and to be governed by 2002 Sarbanes-Oxley Act. Therefore, the attention to enhance corporate governance is being emphasized hence after. Asian financial crises provide lessons for Taiwan to esteem the importance of corporate governance. Taiwan securities regulator (Financial Supervisory Commission or FSC) has tried its best to emphasize the importance of advocating corporate governance to public companies since 1998. It believes that greater transparency as to corporate governance is needed for enterprises to control risk. FSC have adopted many new policies to strengthen Taiwan’s corporate governance, restore corporate integrity and protect investors from the financial crisis in 2008 to the present. FSC has also embarked on a series of reforms designed to make our corporate governance environments stronger and rebuild the new financial order in the Post Financial Tsunami Era. The amendment to Article 14-6 of Securities and Exchange Act was promulgated on November 24, 2010 to request listing companies establishing compensation committee. Through the corporate governance issues, referring to characteristics of the Taiwan passive component industry and market trends, this research identified the key elements based on the major issues and conducted the questionnaire surveys for current conditions of corporate governance and compensation committee within the case company. The case company is an elite member in the Taiwan passive component industry. The study find that the case company has good performance on corporate governance in the implementation of the compensation committee that can be good example for other companies and there are also areas that they underperform, which can be listed as future alternatives for companies’ continuous improvement.