none
| Autor: | CHIUNG-YU PAN, 潘瓊玉 |
|---|---|
| Rok vydání: | 2009 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 97 Global industrial development is getting into the digital era and facing the worldwide competition. Employee dividends system has contributed to the superior competitiveness in high-tech and electronic industry in Taiwan. In view that the numbers of enterprises paying dividends and the dividends amount increase every year, the stock market trading profits of the employee share dividends and its "par value" will have a significant gap to be involved in placing the dividends to the equity dilution and the capital dilation. This study is to understand what the actual impacts to the rights of shareholders at the restrictions of Government Decree and the implementation of the expenditure of employee dividends system. The object of this study is based on the listed electronic industry to analyze the following topics: 1. FSC in year 2005 issued a restriction policy, “Regulations Governing the Offering and Issuance of Securities by Securities Issuers” on Article 73 (as revised), Section 1, paragraph 4, section 4, to restrict the enterprises. Whether or not that this Act may restrain the dilution effect of the surplus allotment of shareholders? 2. To exam the reaction of the enterprises to the implementation of the expenditure of employee dividends system. Based on the same amount ratio of the stock dividend in the total amount of the whole employee dividends, whether or not that reducing the expenditure of employee dividends may mitigate the dilution effect of the stock dividend in stock itself and makes the effect makes the surplus allotment more reasonable to shareholders and employees. The analysis results of this study show as follows: 1. There is not an obvious effect after the implement of employee dividends restraint carried out. This Act doesn’t effectively improve the situation of the employee dividends allotment either. This means that this Act is not significant and it does not really restrain the dilution effect of the surplus allotment of shareholders. 2. The stock dividend rate is substantially dropping down in the first year of the implementation of the expenditure of employee dividends system compared with the previous year. Also, the level is discrepant. This shows that the system of counting shares by market price will affect the enterprises to alter their former policy of issuing the employee dividends. Although to count by market price will be substantial to reduce the share increase and to restrain the dilution effect of stockholders’ shares, it is not significant in statistics. This may be effected by “Statute for Upgrading Industries“, Article 19-1 being expired in year 2009. Before the expiration, when employees gain the company’s stock dividend, they can still levy the income tax in accord with denominations. Enterprises also seize the last chance of the discount of taxation to the employee stock dividends. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
| Externí odkaz: |
|