| dc.description.abstract | Taiwan’s information and communications industry today is rooted in its past, which is dominated by the development of personal computers in the 1980s. Along with the phenomenal development, it has attracted many outstanding talents to join the ranks of entrepreneurship. The government’s strategy also plays an important part, with the support of tax concessions and exemptions, it has gradually grown into today′s army of electronic stocks on the main board.
Today, many entrepreneurs are now facing the issue of successor inheritance. The shareholding structure of these companies have been diluted due to successive years of surplus capital increase and employee stock dividends. For many listed companies, their controllable equity has become weak and low. Every June, during the annual shareholders meeting, not only does it spend money to send souvenirs to shareholders, but also pay a fee to ask the distributors to collect the proxy statement. For every three-year board directors’ selection, not only the shareholders meeting is handled cautiously, but also to guard against surprise attacks by the market to rob management rights.
This study intends to look into a problem that a Taiwanese listed Company A faced. It is in the computer peripheral business, recently encountered a series of hostile takeover threats from the capital market. The study analyzed the internal and environmental factors, and proposed to the company′s board of directors a series of actions, including various strategic plans for pre-defense and post-remediation, ranging from peaceful to severe defensive actions. These include convening an extraordinary meeting of shareholders and initiating ＂Employee Stock Ownership Plans＂, which often implemented by companies to increase the proportion of employees and managers holding company stocks. In addition, at the same time, with the strategic direction of increasing the company′s friendly equity and diluting the hostile equity.
A feasibility analysis based on the five aspects, namely, Technical, Economic, Regulatory, Operational, and Time-schedule was also conducted. The proposal was found to be feasible. | en_US |