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標題: | 家族企業如何利用閉鎖性股份有限公司雙層股權之規定進行股權傳承規劃及個案探討 Taiwanese Family Business How to Apply Dual-Class Shares Structure and Features of Closely Held Corporations to arrange and implement Shares Transfer and Succession Plan-Case Study of an Anonymous Family Business |
作者: | Chih-Hsiang Lin 林志翔 |
指導教授: | 陳家麟(Chialin Chen) |
關鍵字: | 家族企業,閉鎖性股份有限公司,黃金股特別股,傳承規劃,股權, Family business,share transfer,family-owned holding company,closely-held company, |
出版年 : | 2019 |
學位: | 碩士 |
摘要: | 台灣上市櫃及非上市櫃公司中性質上屬於家族企業的比例很高,家族企業對於台灣的產業發展、就業機會貢獻卓著,是台灣社會安定的重要基石。隨著時間過去,台灣家族企業第一代陸續面臨接班傳承問題,包含接班人的挑選及培訓、接班模式選擇、家族企業股權傳承,以及財富傳承規劃等面向議題需要處理,第一代創辦人如果未及時展開傳承規劃及執行,一但創辦人身體有突發狀況或病逝,實務上常見伴隨而來就是家族紛爭的開始。家族企業能否順利、成功完成傳承,除了攸關該家族企業能否延續之外,對於國家的經濟發展、社會安定也會產生重大影響。
本研究透過個案解析能提供一個範本給家族企業參考如何進行股權傳承規畫。本研究將針對某家族企業設立閉鎖性股份有限公司來做為家族控股公司,以家族控股公司作家族治理機構,並藉由閉鎖性公司的特性及雙重股權架構規劃來達到避免家族股權分散、防止外人介入搶奪經營權、強化第一代創辦人及接班人的控制力,讓家族企業能透過一定的機制來解決紛並形成決策共識。 本研究能提供台灣家族企業在規劃股權傳承時的參考範本,避免例如張榮發長榮家族經營權紛爭案例之發生,家族一旦發生紛爭甚至訴訟,將影響企業的經營獲利、公司股價表現、股東股利獲配、員工業機會及台灣經濟發展,形成家族、員工、股東、社會及政府全輸局面。希望本研究提供的股權傳承規劃工具及方式能協助家族永續發展,並與其他利害關係人共創多贏局面。 Most of Taiwan’s listed and non-listed companies are classified as family businesses. Family businesses have made outstanding contributions to Taiwan’s industrial development and provision of employment opportunities. They are the important foundation for Taiwan’s economic development and social stability. As time goes on, the first generation of Taiwanese family businesses have faced succession issues, including family business successor candidate selection and training, succession mode selection, and family wealth inheritance and planning, etc. If the succession and inheritance were not planned and carried out in time, once the founder’s health encounters an unexpected negative situation or died of illness suddenly, it was common to see that family disputes or lawsuits would follow. Whether the succession plan of family business can be successfully and smoothly completed would have a major impact on whether the family business could continue and sustain but also the country's economic development. This case can provide a good example as a case study to illustrate how to plan and carry out shares transfer of family business by case analysis. This case study shows that the family business set up a closely-held company regarded as a family-owned holding company, and by means of the closely-held company with features of dual-shares structure to avoid the dispersion of family business shares, prevent outsiders from interfering with the management rights, and strengthen the controlling power of the founder and successor, and let the family business can solve disputes through closly-held company and reach out to a consensus on decision-making. This study can provide a reference model for Taiwan family enterprises in planning share transfer succession and avoid the occurrence of Zhang Rongfa’s Evergreen family case. Once the family has disputes or even litigation, it will inevitably affect the company's operating profit, the company's stock price performance, shareholder dividend yield rate, employee job opportunities and Taiwan’s economic development. It is hoped that the shares transfer planning tools and methods provided in this study can help Taiwanese family business develop sustainably and create a win-win situation with other stakeholders. |
URI: | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/21163 |
DOI: | 10.6342/NTU201904209 |
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顯示於系所單位: | 商學組 |
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