Research On The Perfection Of Independent Director System In Our Country's Listed Companies

The Independent director system is the result of centralized leadship system. According to practical experience of Great Britain and American ,etc, the implementation of the independent director's system has played the function of perfecting company's administration structure to a certain extent. The bankruptcy of Enron and WorldCom stirs the discussion and ponder of the perfection of Independent director systemin the ciecle of the theory and practice. Direct against the current situation of company's administration structure of our country, China's Securities Regulatory Commission has introduced the independent director's system in our country, aim at perfecting the administration structure of listed company,promote the standardized operation of listed company.This text is in terms of independent director's system, Study to the existing problem that the present listed company's administration structure of our country . Attempt to pass the international comparision of the independent director's system,find one that is suitable for the listed company of our country, Can keep the system of independent director's independence being arranged. Proceed with the genesising of independent director's system and development at first, Exposition the development in our country of the independentdirector's system briefly, Combine the current situation of the administration structure of the listed company of our country and defect existing at present, Carry on perfect necessity and urgency after proving the independent director's system current to our country; Secondly, Through the comparative analysis to that independent director's systems of various countries carry on, Point out we are while drawing lessons from the foreign independent director's system, Transformation that must be chosen to some extent, make it effectual under realistic environment of the socialist market economy with Chinese characteristics. Make real example analysis in financial data in 2003 of 50 listed companies and data on the market that the basis of this text collects from Shanghai Stock Exchange, Plan to examine the relation between company's business performance and company's independent director's proportion through eight regression models, Prove the independent director's system and perfect company's administration structure , improving the relevant relations among company's business performance further, Improve the relevant relations between company's business performance. Finally, This text is on the basis of the thing that the five chapters are studied, Have proposed perfecting some constructive suggestions of the independent director's system of listed company of our country: Setting up effective independent director's operating mechanism , The re-constructing of financial supervision system, setting up and amplify the independent director's encouragement and tied mechanism, making independent director law and job criterion, The training and follow-up of strengthening the independent director are educated; constructing independent director's sincere file. It is verified furtherly thoroughly that the rationality and feasibility on these suggestions await to practise in independent director's system of listed company of our country.