獨立董事功能對企業經營績效之影響

Abstract

公司治理是近年來國內外相當熱門之話題，而引進獨立董事制度更是被視為是改善公司治理機制之重要方法。過去有諸多的文獻探討皆是著重於獨立董事的設置與否是否影響企業績效，而本研究則是針對獨立董事的實質功能對於企業經營績效的影響性進行探討，本研究將獨立董事之實質功能區分為監督、警告、績效評估、諮詢及建議、企業倫理道德、激勵/認可等六項功能，據此探討獨立董事在各項功能的參與程度對於公司營運績效之影響性。 研究結果顯示，獨立董事在監督功能的參與程度對於企業經營績效呈顯著正向關係，在績效評估功能的參與程度對於企業經營績效呈顯著負向關係，而在警告功能、諮詢及建議功能、企業倫理道德功能、激勵/認可功能則無顯著關聯性。本研究期待藉由此研究結果，瞭解獨立董事制度自2002年推動以來之成效，亦可做為企業及主管機關未來在推行獨立董事制度時之參考依據。

Corporate governance has become an important issue in business management in recent years and introducing independent members into the board of directors has been taken as a key mechanism for improving corporate governance. Many studies have focused on the issue of whether business performance would be affected by the use of independent board directors. Nonetheless, the present study explored the effect of the functions served by independent board director on enterprise performance. The functions of independent director were divided into six categories – monitoring, warning, performance evaluation, consultation and suggestion, business ethics maintenance and motivating. By using them, this study discussed the influence of independent director’s participation in the functions on enterprise performance. The findings showed that independent director’s participation in monitoring function had a significant positive correlation with enterprise performance. Independent director’s’ participation in performance evaluation function had a significant negative correlation with enterprise performance. The influences of independent board member’s participation in the other functions, however, were not significant. It is expected that the result of this study may help us understand better the effect of employing independent board member’s on business performance , a mechanism for improving business governance, implemented since 2002.