近年來企業弊案頻仍,政府積極引入獨立董事制度,並陸續制定相關法令強制特定公司施行。對於獨立董事制度引入影響與實行情形,存在著許多正反兩面不同的看法。本文利用賽局模型探討獨立董事的行為、能力、報酬、聲譽、法律責任、忙碌與否等因素,會如何對公司帶來正面或反面的影響。 本文之研究結論為能力、聲譽不足及過於忙碌的獨立董事很難為公司帶來好處;固定報酬無法為獨立董事帶來努力的動機,而變動報酬則必須視其他因素以決定報酬高低,給予獨立董事太高或太低的報酬均非好事。本文贊同正確的聘用獨立董事能為公司帶來好處,亦贊同加諸於獨立董事的兼職限制,此外獨立董事之資格應做更嚴格之限制,避免濫竽充數的情形發生。未來的研究建議可以進一步在多期下討論,並加入解聘之權利等因素進行分析。
Recently, due to the reason on commercial scandals in Taiwan, the government has legislated for enforcing specific enterprises to set independent directors system. However, there exist different opinions about the effectiveness of independent director. In this paper, we develop a game-theoretic model to analyze the influence about the independent director system along with factors. My result finds that the independent directors system can’t function well if the independent directors don’t have enough professional and reputation. I also find that only the variable compensation can encourage independent directors positively. The result suggests that adequate requirement on the independent director is necessary.