Study On The System Of Independent Directors In China's Listed Companies

Independent director system originates from the U.S. and other western countries. It becomes very popular in worldwide to introduce the independent director system to corporate governance structure. Since the beginning of the 1990s, the establishment of independent director system has been an international trend which many countries have followed, and it aroused an "independent director revolution" in corporate governance to some extent. In the early 1990s, China had launched a revolution of corporate governance structure design, and the introduction of independent director system is one of the major institutional innovation and institutional arrangements. From the practice of the independent director system, as it still in the exploration stage, there are many issues that have yet to be studied. For example, the ownership structure, equity structure, corporate governance mechanisms and the market environment of our country are different from that of foreign countries. The equity structure of our country is too centralized and state-owned shares in a"phenomenon of stock dominance"characteristic; the board of supervisors in the"dual system"corporate governance structure has conflict in functions with the existence of independent director. In addition, our country has not yet formed a mature independent director market, the produce and exit mechanisms, incentive and restraint mechanisms of independent director are not perfect, and it requires constant exploration in practice to establish a modern enterprise system and introduce the independent director system to play its function. Therefore, there have important practical significance to study and improve our system of independent directors.This thesis will reflect the current implementation of the independent director system through the empirical analysis and game analysis to the action of independent director, and introduce some ways and suggestions to perfect it on the basis of the existing problems. It has five parts, and the main contains of them are like following:(1) Introduction. Firstly this part gives a review of the research done, then...