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A Study on Family-Owned Business Corporate Governance: Cases Study and Solutions
corporte governance,family holding company,family system governance,
|Publication Year :||2017|
Family holding companies (privately-owned or family-controlled enterprises, FHCs) have been the mainstream of business arrangement in Taiwan. FHCs have been also playing a critical role for the economic growth of Taiwan. FHCs, in the past, had shined out in the market in result of their special assets (family reputations, networks and connections, business abilities etc.). Moreover, FHCs sometimes will go from private to public and start to offers shares of stocks to the public, and become anticipating, large-scale enterprises which may draw publics’ attentions and be demanded to obey relative laws and regulations.
Across Mainland China, Taiwan and Hong Kong, family holding companies in Taiwan have progressed earlier. These FHCs should have gradually set up fine succession plans, and should have showed professional maturity of the topic of corporate governance. However, in the last 10 years, lawsuits and disputes of violation regarding relative rules of corporate governance have been brought out constantly, including financial statement fraud, insider trading, fraudulent, and other breach of trust and dishonest (for example, manufacturing and selling adulterated foods products), which stirring a backlash of FHCs. Furthermore, a weak succession planning model would even stimulate the matter of family infighting and riots, which will influence internal compliance system regarding rules of corporate governance, damage interests of stockholders. Up to this day, FHCs should put effort and improve the management modules of corporate governance.
The research method of this thesis focuses on case study method. The tasks include designing cases for study, collecting the study's data, analyzing the data, and presenting and reporting the results. This thesis collects lawsuits and disputes regarding violations of FHCs from 2007-2016, analyzes the types of violations, and presents the practical goals and measures of FHCs corporate governance. Meanwhile, this thesis refers to the Corporate Governance Evaluation Indicators of TSE (Taiwan Stock Exchange), and raises suggestions to improve each aspects of corporate governance, including system of independent director, obligation of disclosure and transparency, internal control and audit systems, and corporate social responsibility. The purpose of this thesis is not only to help FHCs to avoid violating relative laws and regulations, but to integrate family system governance and corporate governance. In conclusion, FHCs should aim to interact with corporate governance, and to achieve the goal of sustainable development.
|Appears in Collections:||會計與管理決策組|
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