Independent Director System Of Listed Companies In China, And The Empirical Analysis Of The Performance Of The Company

Independent Director Institution is the result of centralized leadship system. From the practical performance of Independent Director Institution in the western countries such as U.S.A and U.K, its implement takes effect on the consummation of Corporate Governance to some extent. The bankruptcy of Enron and WorldCom stirs the discussion and ponder of the perfection of Independent Director Institution in the circle of theory and practice. According to the actuality of listed companies in our country, China Securities and Exchange Commission introduces Independent Director Institution in order to consummate Corporate Governance, promote the normative operation of listed companies of our country.This essay is designed to make research and analysis from the development of Independent Director Institution in our country and the relationship between Independent Director Institution and the performance of Chinese corporations. Firstly, this essay briefly introduces the conception , characters and the definition of the " independence" of Independent Director Institution, analysises the three major function of Independent Director Institution, which is recognized in the world , namely the function of monitor , the function of decision-making and the function of drumbeating, and summarizes the opinions of Independent Director Institution ;secondly , expounds the development of Independent Director Institution in our country , this part concludes the special backgrounds of our country introducing Independent Director Institution, the courses of the development of Independent Director Institution in our country, the orientation of Independent Director Institution in the corporate governance and the summarization of the opinions of the validity of Independent Director Institution in our country . And makes research into the relationship between Independent Director Institution and the performance of Chinese corporations in our country at present by the means of positive research. The result shows that due to the influence of many subjective and practical factors, at this stage, Independent Director Institution doesn't take distinct effect on Corporate Governance and the promotion of corporate performance. Then, the essay comes up with some advice to the perfection of the function of Independent Director Institution from the angle of function.