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    政大機構典藏 > 商學院 > 財務管理學系 > 學位論文 >  Item 140.119/67092
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/67092


    Title: 宏碁對機構投資人的管理與溝通
    How Acer manages and communicates with institutional shareholders?
    Authors: 許家維
    Contributors: 周行一
    Edward Chow
    許家維
    Keywords: 機構投資人
    投資人關係
    委託書
    宏碁
    股東會
    股權服務機構
    institutional investors
    investor relationship
    proxy
    Acer
    annual general meeting
    proxy service institutions
    Date: 2013
    Issue Date: 2014-07-01 12:05:50 (UTC+8)
    Abstract: 2001年宏碁公司組織改組後營運表現良好,2003年起外資法人大量買入宏碁股票,讓宏碁的股東結構轉變成以外資法人為主體,因此宏碁無法僅靠向國內一般投資人徵求委託書的傳統方式完成股東會。過往在台灣有許多法規面與資訊面上的問題,讓外資法人難以參與股東會及投票表示意見,如此一來對機構投資人持有股份逾半的宏碁便急需要尋找方法確保股東會能夠順利召開。宏碁必須要了解機構投資人買進的目的並建立溝通管道,為外資法人排除投票障礙,以確保公司能正常運作。本研究探討不同類型機構投資人的選股決策和其買進股票後對宏碁的影響,以及宏碁如何管理不同以往的股東結構和建立持續性的溝通機制。藉由股權服務機構ISS(Institutional Shareholder Service)、Broadridge投票平台與The Altman Group的建議,宏碁加強自1998年成立的IR團隊功能,並且提高資訊揭露標準與國際接軌。2005年時成功在機構投資人持股逾半的情況下,全體出席者無異議通過股東會所有議案。2008年台灣開始實施員工分紅費用化後,以發放股票作為員工報酬的成本提高,公司少了一項給予優秀人才報酬的方式,對於人才留任相當不利,發行折價員工認股權憑證議案便在此時空背景下出現。但因此議案牽涉到股權性質的報酬,ISS的態度為採取個案探討,並未在每年度ISS全球地區性的投票綱領中給予方向性的意見。詹浩憑藉著過去3年與ISS合作的經驗與來自The Altman Group的幫助,設計出讓ISS消除疑慮的折價員工認股權憑證架構,並於股東會上連續三年順利通過發行案,可說是台灣企業與機構投資人溝通和管理的典範。
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    Description: 碩士
    國立政治大學
    財務管理研究所
    101357035
    102
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0101357035
    Data Type: thesis
    Appears in Collections:[財務管理學系] 學位論文

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