| 英文摘要 |
The amendment to Article 1 of Taiwan’s Company Act demonstrates, on the one hand, that internal accountability mechanisms including legal compliance programs matter, and, on the other hand, that firms should internalize corporate social responsibilities ( “CSR”) into their daily operation. Nevertheless, even if the Taiwanese government has been mandating corporate governance (“CG”) models of Anglo-American independent directors and audit committees step by step, we cannot rely only on such external accountability mechanisms as government regulation to improve corporate governance. I argue that the focus should be on external accountability mechanisms of both market constraints and their governmental counterparts altogether, and that, as necessary supplements to the transplantation of the Anglo-American CG models into Taiwan, oversight dynamics derived from both the aforementioned constraints should at the same time be incorporated into internal accountability mechanisms. In this case, internal and external accountability mechanisms in the CG ecosystem will be harmonic with each other to keep management in check. Meanwhile, with such public-private collaborative governance, internal corporate governance in Taiwan will be advanced on the one hand; on the other, internal accountability mechanisms can be adaptable to integrate CSR with firms’ daily management. |
