當代資本市場持續發生重大財務報表舞弊,使得公司治理獲得重視。而在確保股東權益之中,鼓勵股東直接參與公司重大決策的「股東行動主義」(Shareholder Activism),也透過股東會採取電子投票制度予以體現。同時,採電子投票的股東亦需先瞭解公司之相關資訊,故公司資訊透明度亦將影響電子投票制度。因此,本研究目的是檢視我國政府積極推行之股東會電子投票制度之下,對股東參與及公司資訊透明度所帶來之成果效益探討。經實證發現,電子投票之推動確實可以增加股東會投票率,即股東參與議決的比例提昇。不過,公司資訊透明的高低,對投票率並無顯著影響。本文之結果,將提供公司或主管機關推行電子投票制度之重要參考。
Nowadays, significant frauds of financial statements in capital markets take place continuously that results in much attention to be paid on corporate governance. However, in the mechanism of ensuring shareholders' rights, Shareholder Activism, which encourages shareholders to participate in major decisions directly, also comes true by electronic voting system in shareholder meeting. Moreover, shareholders who take electronic voting need to realize the related information of a corporation, so the information transparency would also affect electronic voting system. Therefore, the purpose of this study is to examine the benefit of the electronic voting system on participation of shareholders and the information transparency. Empirical findings show that promotion of electronic voting indeed raises the proportion of voting in shareholder meeting. However, the level of the information transparency doesn’t impact on voting rate significantly. The results of this paper will provide important references for corporations or authorities to implement the electronic voting system.