The Taiwan Stock Exchange Corporation (the TWSE) in collaboration with the Taipei Exchange (the TPEx) will hold the “9th Corporate Governance Evaluation Award Ceremony” on June 9, 2023, for the recognition of 46 TWSE-listed companies and 37 TPEx-listed companies which ranked in the top 5% in the evaluation, and 14 TWSE-listed and TPEx-listed companies (eight TWSE-listed companies and six TPEx-listed companies) which ranked in the top 5% in terms of SME capitalization. At this award ceremony, Chairman Huang of the Financial Supervisory Commission will be invited to deliver a speech and serve as the award presenter, and regulatory authority heads authorities and securities related units will also be invited to attend the ceremony.　

The TWSE said that this 9th Evaluation was a comprehensive one of the overall corporate governance of enterprises based on 78 indicators in four major dimensions, namely, “protecting shareholder rights and interests and treating shareholders equitably,” “enhancing board composition and operation,” “increasing information transparency” and “promoting sustainable development.” The evaluation results were already announced on April 27, 2023. Compared with the 8th evaluation, a total of nine TWSE-listed companies and 10 TPEx-listed companies entered the top 5% this time, with a turnover rate of 20% and 27% respectively.

The TWSE further explains that the Corporate Governance Evaluation indicators are reviewed every year, and updated in line with new domestic laws and regulations plus policy focuses as well as international development trends for continuous improvement. The next (10th) Corporate Governance Evaluation will continue following the “Corporate Governance 3.0 – Sustainable Development Roadmap” and the “Capital Market Roadmap” announced by the competent authority to strengthen the two aspects of “protecting shareholder rights and interests and treating shareholders equitably” and “promoting sustainable development,” continue promoting enterprises’ attention to various corporate governance mechanisms, and enhance the recognition of the Evaluation. 

Through the Evaluation, the TWSE has the goal to find enterprises that actively augment corporate governance and set up governance measures that exceed the requirements of laws and regulations. This guides benign competition and mutual learning among enterprises by rewarding companies with superior performance, so as to gradually improve their corporate governance level and further shape the corporate governance culture in Taiwan’s capital market.