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題名 | 從美國公司法制論利用網路行使股東權之發展與趨勢=Electronic Voting and Its Development in Corporate Governance--A Comparative Introduction |
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作 者 | 馮震宇; | 書刊名 | 經社法制論叢 |
卷期 | 29 2002.01[民91.01] |
頁次 | 頁139-179 |
分類號 | 587.25 |
關鍵詞 | 網際網路; 電子投票; 網路投票; 委託書; 股東權; Internet; Electronic voting; Proxy; Shareholder rights; |
語文 | 中文(Chinese) |
中文摘要 | 在各國公司實務上最受到重視的問題之一,就是股東會的召集與決議問題。雖然各國公司法規都對股東會的召集、決議與委託書(Proxy)等有相當的規定,以為因應,但是隨著公司所有權與經營權分離原則的實施,公司股權日趨分散,以致股東眾多;再加上股東散居各地,若要達到召集股東會的法定人數,乃有其實際上的限制。 另一方面,由於網路迅速普及與網路技術的進步,國際證券管理委員會組織(IOSCO)亦早就建議各國公司證券主管機關因應網路的發展,充分利用網路特性,以散播投票訊息的可能性,並在委託書投票的過程中,利用網路作為協助股東積極參與股東會或是其他股東會議方式之一的可能性,以將網路應用於實際公司證券實務。 而在美國,由於美國證管會與美國各州公司法積極推動利用網路以行使股東權,使得美國目前已經有超過三十個州的公司法准許股東利用網路或其他電子方式(例如電子郵件)進行投票,以行使股東權。由於利用網路進行委託書資料的交付與投票有相當多的優點,例如便利性、可以節省大量的費用、並可提升股東參與股東會意願,使得許多美國業者紛紛採行此種方式,並逐漸獲得股東的接納。 由於我國股東會之召集與召開在現行制度下,往往忽視小股東之權益,小股東僅能將委託書交換紀念品,而非真正行使股東權。而現行以書面與紙本為主的通知制度,亦對公司構成一大負擔。由於我國已經邁入無實體發行有價證券的境界,並已採行網路進行股務作業,若能在實體股東會之外,亦准許股東利用網路行使股東權,不但可以符合政府所推動的電子商務與電子化政府的政策目標,亦可擴大股東與公司的接觸管道,降低公司的成本。因此本文特別就美國有關利用網路行使股東權的規定加以介紹,以供國內業者與主管機關參酌。 |
英文摘要 | One of the most important issues in today's corporate governance is centered on the shareholder meeting. As a result, from the delivering of the shareholder meeting documents, the convening of the shareholder meeting, to the exercising of the shareholder rights through proxy, every step is closely related to shareholders' interests and management's control. Nevertheless, corporations also experienced difficulties to convene and hold annual shareholder meetings due to the facts of the greatly expanded numbers of shareholders and the geographical limitations for some shareholders in attending the meeting. To overcome such difficulties, IOSCO has recommended members to adopt Internet as a means to deliver shareholder meeting information. In addition, IOSCO also suggests member countries to seriously consider using Internet as a way to help shareholders in participating in the shareholder meeting. In the United States, owing to the active rule-making and open attitude, SEC has paved the road for Internet utilization for the corporate world. Moreover, many States, especially Delaware, California and New York, are also actively revamping their corporate law to accommodate the Internet as a means for shareholders to exercise their shareholder rights. Such legal infrastructure has successfully persuaded many corporations to initiate Internet voting mechanism. In Taiwan, the present mechanism, however, encourages corporate management to dissuade shareholders from actively participating in the shareholder meeting. Corporations usually hand out souvenirs in exchange for shareholders' votes. Shareholders were unable to communicate with other shareholders. Even with such conservative mechanism, the Internet influence has been gradually showing its results. For example, the newly amended Secrurities and Exchange Law has adopted dematerialization and immobilization approach to handle securities affairs from issuing to clearing and settlement. If government can base on such basis and provide legal infrastructure for online delivery of documents and online voting, it will further strengthen the e-government and e-business policies promoted by the government. In light of this, this article would like to introduce and analyze the present US approach so as to provide a reference for further improvement of the local corporate government mechanism. |
本系統之摘要資訊系依該期刊論文摘要之資訊為主。