2016년 유가증권시장 상장회사의 지배구조 실태 분석

This article is purposed to explore and analyze the current state of corporate governance of KOSPI-listed firms. With aspect to the board of directors, it is typically composed of four inside directors and two outside directors as KOSPI-listed firms did. Few firms performed the board evaluation and disclosed its result just like in 2013. It needs the effort to activate the board evaluation. When it comes to the protection of shareholder’s rights, the most remarkable one is the introduction of electronic voting. There is no KOSPI-listed firms that introduced the electronic voting in 2013 but many firms have introduced it since 2015 because of the suspension of shadow voting abolishment. Audit committee has been increasingly installed compared to that in 2013. However, the average rate of non-audit to audit service of the external auditor increased so the independence of external auditor is worried to be undermined. As far as concerned with the dividend, the aggregated cash dividends and dividends per share had increased for the recent three years. However, the interim and quarterly dividend and difference dividend were implemented as much as in 2013. It needs to dissipate and popularize them with the advance notice of dividend. Notice of shareholder meeting call and submission of audit report of external auditor were performed as they were done in 2013, with no improvement. Firms should make efforts to improve its governance. keeping in mind that improvement in corporate governance can enhance the firm’s competitiveness as well as corporate value.