亞洲公司治理協會(Asian Corporate Governance Association, ACGA)與里昂證券(Credit Lyonnais Securities Asia, CLSA)共同於2012年9月發布2012年亞洲公司治理報告，台灣排名下降2名，主因執法成效不佳，包含未全面要求上市櫃公司設置獨立董事及審計委員會。2006年1月11日立法院通過證券交易法修正案，提及公開發行公司得設立審計委員會，因此，本研究以2006年到2011年台灣上市櫃之4,011筆電子公司資料為研究樣本，經由本研究實證結果顯示設置獨立董事與獨立董事席次比例對公司經營績效有顯著正相關影響，與預期結果符合。另外，設置審計委員會對經營績效為顯著負相關影響，與預期結果相反。
Asian Corporate Governance Association and Credit Lyonnais Securities Asia pub-lished the 2012 Asian Corporate Governance Report in September 2012. The Report listed Taiwan's ranking two places backward. The main reasons are the poor effective-ness of legal enforcement and not fully regulating the listed companies to establish in-dependent directors and audit committee. The Legislative Yuan passed the Securities Exchange Act amendment in January 11, 2006. The Act drafts that the listed companies could establish the audit committee. Therefore, this research selected the samples of 4,011 listed electronic in Taiwan from 2006 to 2011. This empirical results show that the establishment of independent directors and the proportion of independent directors has a positive influence on operating performance as expected result. The establishment of audit committee has a negative influence on operating performance that produced an adverse expected result.
