要有效解決代理問題,各種制衡管理當局之機制設計,將攸關著公司治理之成敗。公司治理機制中,董事會組織扮演非常重要的一環。而臺灣現有董事會中之法人董事制度,在性質上因存在著法人董事代表與兩個法人(任職公司與所代表之公司)間所可能產生的角色與利益衝突之疑義。多數學者抨擊該制度的本身即是對於提倡公司治理之一大障礙及潛藏的危險因子,故本研究主要以實證方式,探討我國公司法人董事結構與績效間之關聯性。 研究結果顯示,法人董事席次比例、非集團所屬法人董事席次比例與法人董事持股率與公司經營績效皆呈現負相關。推究可能之原因為法人董事一方面受所屬法人之指派與控制,一方面又必須對其所擔任董事之公司善盡受託人義務,因此產生的角色衝突與利益衝突之現象。爰建議主管機關應詳細觀察目前各上市櫃公司之運作效能,採參各界意見作更為妥適之規範。
The various mechanisms of checking and balancing the power of management authorities are designed to effectively address the agency problem that will be a significant role in the success or failure of corporate governance. A board of directors plays a very important part of corporate governance mechanisms. Existing Taiwan's rules for juridical person directors, in nature, there is the doubt of the roles and interests conflicts of juridical person directors between two legal persons (one is they held and another is they represented) that may arise. Most scholars criticized the juridical person directors system for being one of the big obstacles and hidden risk factors to advocate the corporate governance. The study mainly uses empirical way to explore the correlation between the board structure and performance. The results show that the proportion of juridical person directors’ seats, the proportion of non-Group's juridical person directors’ seats and juridical person directors’ stock ownership are negatively to corporate operating performances. In deducing the possible reasons for the results, the roles and interests conflicts of juridical person directors are the main concern. Finally, the study suggests that the competent authority shall observe the current situation of the juridical person directors system operated in the public companies to adjust the relative rules.