Abstract
The government, in assisting Taiwanese enterprises to compete in increasing globalization environment, imitated the European and American countries in establishing stock market, helped corporate bond issuance to finance capital projects, and in the 80¡¦s, allowed foreign investments to enter Taiwanese economy and gradually relaxing regulation to allow greater flexibilities. Because of this policy, Taiwanese Stock Market began to grow exponentially. The number of corporate IPOs mushroomed in great numbers.
After 1997 Asian financial and economic crash severely damaged the market and economy. The idea of ¡§Get Rich Quick¡¨ from the West began to invade Taiwan. Many corporate upper management, especially the second generation owners of family enterprises with higher education in international financial operations, broke away from their core business operations and traditional values and began to focus on high risk investment products and speculative investment vehicles. They even use cross-shareholding of stocks, stock speculations, illegal loans and profit sharing, misleading and fraudulent financial reporting to expand their businesses. As the result of their negligence of risk management and miscalculations of economic conditions, corporations experienced severe cash crunch from investment losses and were unable to cover the cash shortage through over-leveraged assets and illegal corporate financial schemes. Many corporations crumpled, causing wide spread lay-off and significant losses by investing public. It also affects many upper, middle, and lower stream merchants, vendors, and financial institutions. The resulting chain reactions from corporate bankruptcies, reorganizations, and stock de-listings caused major ramifications in Taiwan¡¦s social, political, economic, and financial systemsDuring the more than ten years of past criminal investigations of illegal activities in public companies, the media, financial, legal and accounting experts all provided their suggestions in how to prevent these cases. However, other than providing some tabloid news on newspapers, it regrettably has not helped in assisting the investigations or in preventing new cases.
This thesis summarizes the major financial and money laundering activities preventive measures, and criminal investigations in Taiwan. It will compare and analyze the various case backgrounds, methods of operations, ramifications, and legal consequences in order to find similar characteristics of these cases from past investigative experiences, evidence gatherings, money trail tracings, and legal procedures. From these analyses, the thesis will make conclusions and suggestions in hope of shortening the investigative process in future cases, so that the investigation can start on the right track immediately to prevent the domino effects on the stock market and economy and minimize damage on economic conditions, and to reach the goal of ¡§To Detect is to Prevent¡¨.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0906104-110101 |
| Date | 06 September 2004 |
| Creators | Chen, Jen-Lung |
| Contributors | Iuan-Yuan Lu, Jen-Der Day, Cher-Min Fong, Hsien-Tang Tsai |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0906104-110101 |
| Rights | restricted, Copyright information available at source archive |
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