由於台灣過去多起的掏空案，政府逐漸重視公司治理及監督機制，因此在2006年強制要求公司設置獨立董事。然而，本文發現有些公司應遵循獨立董事法規而未遵循，所以此篇主要研究何種特性的公司不符合獨立董事法規，研究期間為2006年到2014年共9年，研究樣本來自於台灣經濟新報資料庫(TEJ)，總樣本為7179間之上市上櫃公司，其中不符合獨立董事法規的公司有143間。首先，本文先檢驗符合獨立董事法規的公司與不符合獨立董事法規的公司是否有差異。接著，探討何種特性的公司不符合獨立董事法規，由於應變數為二元分類，即符合獨立董事法規的公司虛擬變數設為1，不符合獨立董事法規設為0，因此，本研究使用羅吉斯迴歸對三種特性公司與假說做驗證，結果發現公司績效中的資產報酬率較高的公司，符合獨立董事法規的機率較低；公司治理中，股權越集中的公司，不遵守獨立董事法規的機率較高；及公司透明度越好的公司，其為上市公司、資訊揭露程度較高的公司與由四大會計事務所查核的公司，設置獨立董事的意願較低。最後，驗證是否設置足夠的獨立董事能增加公司往後的績效，其結果發現，符合獨立董事的公司會比未符合獨立董事法規公司績效較好，說明政府強制設置獨立董事是有其必要性。;Independent directors which can improve the monitoring mechanism play an important role in corporate finance. In 2006, government required corporations to set up the independent directors. However, this thesis finds that few companies needed to comply with the law, but they did not. Therefore, the paper wants to study what kind of characteristics of companies do not comply with the law of independent directors. In this paper, we study the 7179 listed companies from 2006 to 2014 and about 143 companies did not comply with law. First of all, we verify whether the companies which abide by the law and the companies which do not are different. Furthermore, this paper uses the logit regression to test what kind of characteristics of companies do not comply with. Then, we find that the return on assets of company is higher, and the probability of setting independent directors is lower. The company is more concentrated on ownership, and they did not follow the law. Transparency of information is better, and the probability of setting independent directors is lower, too. Finally, we examine whether setting up enough independent directors can improve corporate performance and does the result demonstrates that their relationship is positive, and if setting up the independent directors by the government is necessary.
