At the forefront of corporate governance reform in Taiwan is establishment of the independent director system. We report upon the reform as related to the independent director system. Listed companies have acted in response to the reform in a way that may not serve its original purpose.
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Errata: In the September/October 2016 issue (volume 56 number 5, pages 836 and 849), there was a technical printing error in Figures 1b and 2 of the article by Ajay Raina that resulted in a loss of data on the graphs. This online article contains the restored figures in their original, correct state. The error is regretted.