Through institutional investors’ use of their specialty and influence, fulfillment of their duty as professional institutional investors, and assistance for invested companies in strengthening corporate governance, long term value of the capital market can be increased. TDCC, Taiwan Stock Exchange (TWSE), Taiwan Financial Services Roundtable (TFSR), and Securities Investment Trust & Consulting Association of the R.O.C (SITCA) have together drawn up and released “Stewardship Code for Institutional Investors”on 30th June, 2016. Through institutional investors’ active endorsement and the use of their profession and influential power, sound corporate growth can be stimulated and investors’ rights can be protected.
E-voting is the most essential feature of corporate governance, and revelation of voting data is the key indicator of stewardship execution. In response to promoting institutional investors’ stewardship, on Stockvote, the electronic voting platform, TDCC has launched a new function “Stewardship Voting Statistics,” providing new functions that allow institutional investors to inquire and download results of automatic calculation of electronic voting for classified motions at shareholders’ meetings. The function has been officially online, and through this function institutional investors who have endorsed the stewardship code are able to gain access to e-voting results of 2017’s shareholders’ meetings at listed companies. Besides, through the new function, institutional investors can collect and calculate voting data of the execution of voting rights through non-e-voting methods. Hence, the revelation of stewardship voting data will be facilitated and operating efficiency will be promoted.
The new function is expected to drastically reduce institutional investors’ manpower, time and system development costs of voting revelation due to stewardship code. It also helps increase the willingness to endorse the code, keep abreast of global trend and improve Taiwan’s corporate governance.