我國上市櫃公司設置公司治理主管成效探討

Abstract

本研究以模糊斷點迴歸模型(fuzzy regression discontinuity design)探討台灣上市櫃公司設置公司治理主管之成效。實證結果發現設置公司治理主管後，董事會開會次數、平均出席率以及公司治理評鑑排名皆有顯著提升；然而，遭報ESG負面新聞次數及董監責任險投保金額無顯著變化。此結果顯示設置公司治理主管無法在短期內降低公司對於利害關係人不利的作為。

This study uses fuzzy regression discontinuity design model to investigate the effectiveness of appointing company secretaries in listed companies in Taiwan. The empirical results indicate that after appointing company secretaries, there is a significant increase in the number of board meetings, the average attendance rate, and the ranking of corporate governance evaluation. However, there is no significant change in the frequency of reports on negative ESG news and the amount of directors’ and officers’ (D&O) liability insurance. These findings suggest that appointing company secretaries cannot reduce corporate misconduct in the short term.