家族企業公司治理爭訟案例分析與解決之道

Abstract

家族企業長久以來一直是台灣社會的主流經營型態，也在台灣過去數十年來的經濟發展，扮演了極為重要的角色。過去家族企業憑藉其特殊資產（例如家族聲望、人脈資源、經營能力等等），往往能在商場上脫穎而出，甚至進而進入資本市場取得大規模投資挹注，成為社會矚目的大型企業，因而受到社會與法律更多的矚目與規範。 台灣家族企業的發展在兩岸三地雖然起步較早，也逐漸邁向接班的階段，理應在公司治理方面有相當成熟度。但在近十年來，家族企業相關違反公司治理的法律爭議案件仍不斷發生，包括財報不實、內線交易、背信以及其他違法經營誠信（例如製造銷售黑心商品）的爭議，導致對於大型企業有興起「去家族化」的反對聲浪。此外，家族企業接班計畫不慎順遂，家族內鬨的爭議更是屢見不鮮，甚至進而影響公司治理的遵循，損及投資大眾權益。可見時至今日，家族企業對於公司治理的遵循觀念與實際作為，容有研討改善之必要。 據此，本論文於研究方法上採取案例分析，透過司法個案的網羅與研究，對於近十年來家族企業的違法類型與原因做出歸納與分析，並藉由個案進一步探討相關細節，以提出家族企業在公司治理方面應該有的遵循方向與具體措施。同時也參考主管機關對於公司治理所倡議的相關指標，對於家族企業在公司治理各個構面的加強方向提出建議，包括獨立董事制度、資訊揭露義務、內控內稽制度、企業社會責任等面向。除了藉此避免家族企業繼續發生類似違法案例外，也希望透過家族治理與公司治理的融合與併進，讓公司治理在家族企業也能發揮相關興利的作用，以達成家族企業基業長青的目標。

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.