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The 2018 (5th Round) Corporate Governance Evaluation Award Ceremony held on May 28!
The Taiwan Stock Exchange and Taipei Exchange co-hosted the 5th Corporate Governance Evaluation Award Ceremony on the ninth floor of Taipei 101 at 3pm on May 28, 2019. Forty-three TWSE-listed companies and 34 TPEx-listed companies who are in the top 5% of the evaluation received their awards. The TWSE and TPEx invited FSC Chairman Wellington L. Koo to give the opening speech and present awards at the ceremony. Heads of the competent authorities and securities institutions were also invited to the event.
The TWSE announced that the 2018 Corporate Governance Evaluation contained 85 indicators in four categories, which are: (1) protecting shareholder rights and interests and treating shareholders equitably; (2) enhancing board composition and operation; (3) increasing information transparency and (4) putting corporate social responsibility into practice. The indicators were designed to measure the overall corporate governance performance of a company. The evaluation results were published on April 30, 2019. Compared to the 2017 evaluation results, 14 new TWSE-listed companies and 9 new TPEx-listed companies entered the top 5% and the replacement ratio is 33% and 26%, respectively.
The TWSE further explained that the corporate governance evaluation indicators are reviewed every year, constantly refined according to regulatory amendments, key government policies and global corporate governance trends. The 6th Evaluation follows the “New Corporate Governance Roadmap (2018-2020) and makes adjustments along the themes of stronger qualitative indicators, refined scoring, and a new questionnaire to gather feedback. The measures aim to increase businesses’ emphasis on each corporate governance mechanism continuously. The goal is to engage companies by recognizing different scores for different degrees of adoption or implementation of corporate governance practices.
Through the Corporate Governance Evaluation, the TWSE hopes to identify companies that are constantly trying to improve their corporate governance practices and implement better measures beyond compliance requirements. Furthermore, the practice of recognizing outstanding companies encourages healthy competition and serves as a benchmark from which other listed companies can learn, thereby raising the standards in their own companies, and enhancing the corporate governance culture in Taiwan's capital markets.