全球併購浪潮下，敵意併購向來是併購議題中備受矚目的焦點，許多國家均針對敵意併購設有明確的法規範，而我國自2002年通過企業併購法以來，已歷經十五年，在敵意併購相關法制的建構上卻顯有不足，導致實務上面臨許多問題。蓋我國近年來引發高度關注的敵意併購案件，幾乎皆以失敗收場，且雙方攻擊防禦的過程中往往演變為經營權惡鬥，不僅兩敗俱傷，亦使公司及股東利益蒙受損失。
有鑑於前述情況，本文擬從實證觀點探討我國企業環境與文化脈絡對於敵意併購之影響，並透過國內曾發生過的案例、主管機關的態度與法院見解，對我國現行法制進行反思。另外，本文亦藉由美國、英國、德國、歐盟和日本之比較法研究，從目標公司採行防禦措施之相關規範、對於股東之資訊揭露以及少數股東權益保障等面向，討論出可能且適合用於我國之規範方向，以作為建構我國敵意併購法制之參考。 / In the wave of global mergers and acquisitions, hostile takeover has long been a focal point on the issues relating to mergers and acquisitions. Many countries have already built up more transparent regulatory regimes specifically for hostile takeover activities. However, since Taiwan promulgated the Business Mergers and Acquisitions Act in 2002, the relevant laws and regulations were not sufficient to govern hostile takeover activities during the past fifteen years and a number of issues arose in practice. In recent years, the well-known hostile takeover cases in Taiwan all ended up in failure. The actions taken by the party initiating hostile takeover and the target company often led to corporate control contests, making both parties and the shareholders suffer losses.
This thesis examines the influences of Taiwanese culture and corporate environment on hostile takeover. It also marks the deficiencies of the current regulatory regime in Taiwan by reviewing the hostile takeover cases, the opinions of the competent authority and the judicial judgements. In addition, this thesis introduces the legislations of the United States, England, Germany, European Union, and Japan on anti-takeover tactics, information disclosure as well as the protection of minority shareholders’ rights and interests. The thesis then analyzes whether these legal systems are suitable as a reference for Taiwan to establish relevant laws and regulations in the future.
| Identifer | oai:union.ndltd.org:CHENGCHI/G0103652008 |
| Creators | 陳思穎, Chen, Szu-Yin |
| Publisher | 國立政治大學 |
| Source Sets | National Chengchi University Libraries |
| Language | 中文 |
| Detected Language | English |
| Type | text |
| Rights | Copyright © nccu library on behalf of the copyright holders |
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