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TWSE Corporate Governance

Corporate Governance Roadmap Overview About Us

The 2015 G20/OECD Principles of Corporate Governance (the Principles) articulate that corporate governance involves a set of relationships between a company’s management, its board, its shareholders and other stakeholders. There is no single model of good corporate governance. However, some common elements underlie good corporate governance. On the basis of the Principles, it is the role of government, semi-government or private sector initiatives to assess the quality of the corporate governance framework and develop more detailed mandatory or voluntary provisions that can take into account country-specific economic, legal, and cultural differences.
Corporate governance has become an important global topic, one that has been receiving a great deal of focus in the Asian region. Taiwan has been educating public companies on the importance of corporate governance since 1998. The Executive Yuan formed the "Corporate Governance Reform Task Force" on January 7, 2003 to study various issues of corporate governance and launch the "Accountability of Companies in Taiwan: Policy Agenda and Action Plan to Strengthen Corporate Governance", which then became the basis of promoting corporate governance. Over the past decade, the Taiwan’s government promoted and implemented various policies, such as practices enhancing the independence of the Board, incentives for incremental establishment of functional committees in corporate boards, issues of corporate governance best practices, measures promoting electronic voting, improvements on the decision-making process and disclosure of related party transactions, introduction of investors protection measures, and more transparent corporate information.
The Organization for Economic Cooperation and Development (OECD) outlines six reform priorities for taking Asian corporate governance to a higher level and reminds Asian countries to work on implementation so that it can keep pace with amendments of laws and regulations, and that principles of corporate governance can be fulfilled. To respond to rapid corporate governance reforms in the region, and to enable a clear and better understanding on the future policy and plans for good corporate governance in Taiwan, the Financial Supervisory Commission (FSC) issued the "Corporate Governance Roadmap 2013." The Roadmap showed Taiwan's determination to implement corporate governance reform by guiding the path of its development over the next five years, and helped businesses grow in a healthy and sustainable way so that they can increase market confidence and Taiwan's international competitiveness.

The FSC has supervised relevant agencies to complete various measures included in the "Corporate Governance Roadmap 2013." To enhance our corporate governance developments as to that of international trends, the FSC launched a new corporate governance roadmap for the next three years (2018~2020) based on feedback from corporate governance related organizations, experts and scholars. The Roadmap intends to encourage active participation of companies and investors in corporate governance, through deepening corporate governance culture, enhancing board functions, strengthening information transparency, promoting shareholder activism, and augmenting regulatory enforcement. Meanwhile, it also aims to have corporate governance culture rooted, create an investment-friendly environment and improve international competiveness.

No. Name Link or Download
02 Corporate Governance Roadmap 2013
03 Corporate Governance Roadmap(2018_2020)
04 Corporate Governance Best-Practice Principles for TWSE/GTSM Listed Companies