台灣電子業上市櫃公司董事長 選任獨立董事之認知研究

Abstract

過去關於獨立董事的文獻主要著重探討獨立董事與企業績效的關係，以及獨立董事的監督功能所帶來的效益，對於獨立董事的選任的實際考量卻鮮少有文獻探討。 在台灣資本市場上，獨立董事根據法律係由董事會所聘任，然而除了少數由持股達一定程度的股東提名外，實務上多由公司董事長啟動選任的程序。因此，董事長選任獨立董事之考量及對獨立董事的期許，也相當程度的影響了獨立董事參與董事會會務與重大決策的行為。為了深入瞭解公司負責人對於獨立董事選任的看法，本研究採專家訪談法以半結構訪談方式訪談台灣電子業上市櫃公司董事長共二十一人，並扣除有疑慮者，實際用於統計分析共計十九份有效資料，企圖探索台灣電子業上市櫃公司董事長選任獨立董事之考量因素及對獨立董事各項職能的期許，希冀提供政策制定者攸關獨立董事制度實務發展之參考。 本研究結果發現，現階段台灣電子業上市櫃公司董事長對選任獨立董事偏好由熟識者出任（直接或間接），且著重獨立董事之聲譽。對獨立董事的職能期許，著重於提供企業的建議與諮詢職能及提供企業的網絡職能，而行為控制職能與產出控制職能之發揮，則並不明顯。至於薪酬委員會和審計委員會的部分，董事長的考量主要著重於法規的遵循，對於獨立董事在其中所能發揮的功能並不特別著重。 本研究建議政策制定者應多加考量政策施行配套措施，同時強化對於企業負責人和投資人的教育推廣，使其瞭解公司治理對於公司永續經營的效益。如果企業負責人能對獨立董事的功能與企業決策品質關係有深入的認知，將會促使企業在選任獨立董事與董事會的運作上更能產生應有的效益。

Prior research of independent directors in Taiwan’s listed companies has focused on the relationship between corporate performance and independent directors. However, much less has focused on the actual considerations in the selection of independent directors. Independent directors have to be nominated by the board before their final approval by the shareholders’ meeting. During this process, corporate chairpersons have significantly influenced not only in the nomination but also on the subsequent participation of independent directors in the board. In order to have in-depth understanding of the practical considerations of selecting their independent directors, this study utilizes Delphi Method to conduct semi-structured interview with a sample of 21 chairpersons of listed companies in electronic industry. The findings of this study indicate these chairpersons have a preference to select independent directors based on their reputation and familiarity.The expectation of performance for independ directors emphasizes more on their advisory and networking functions than their functions on behavioral control and output control. This study suggests regulatory agencies should consider supplementary measures to facilitate the implementation of corporate governance. In the meantime, the regulators should also enhance and encourage corporate directors’ (including chairpersons) and investors to participate in training programs for them to understand better the benefits of corporate governance. When the relationship of independent directors and corporate decision quality can be recognized, it will strengthen further the effectiveness of selecting independent directors and the functions of the board.