Empirical Research On The Influence Of The Independent Director's Supervision To Accounting Information Disclosured Illegally

Securities regulatory commission released " guidance of the companies to establish the system of independent directors " in 2001.Since the system of independent directors had become established, the independent directors of the rules for mandatory requirements could guide the listed company's standard and perfect the corporate governance structure to play a positive role in the process. But because the national conditions and other factors, the effect of the limitation of the independent's system is difficult to stumble. In order to perfect the system of independent directors,we shall have further research about the factors which affect the supervisory function.So taking the accounting information which disclosure illegally as a visual Angle to study the supervision's function of the independent directors.Then try to find out the supervision's function which influence by the independent directors. This paper are reviewed the independent director's literary and theory about supervision function and accounting information disclosured which analysis from home and abroad, then using the Logistic model to analysis the relationship between the independent directors's supervision and accounting information which disclosured illegally. The research process based on 2006 to 2010 years in Shanghai stock exchange and shenzhen stock exchange and liste the sample which the accounting information disclosured illegally from the motherboard market and small and medium-sized board market.Through empirical analysis, market research found that the motherboard, the audit committee and attend the meetings happen a significant negative correlation with the accounting information which disclosure illegally. The independent directors of the government occupation background is positively related to the accounting information which disclosured illegally. The proportion of the independent directors, allowances of independent directors, ability of the accounting, capable of accounting occupation background in the University, enterprise, finance, chairman of the board and general manager whether as two separate have no significant relationship with the accounting information which disclosured illegally。In small and medium plate market found professional background of independent directors have significant role to restrain the increase of accounting information disclosure violate compasses, and the enterprise of the background of the independent directors proportion and the proportion of the independent directors have significant positive correlation with accounting information which disclosured illegally. Seting up an audit committee, allowances of independent directors, ability of accounting, capable of accounting occupation background in the government,finance,attending the meeting, chairman of the board and general manager whether as two separate have no significant relationship with the accounting information which disclosured illegally.Finally, according to the conclusion of this paper and the special system background, we should improve the system of independent directors in China and perfect the mechanism.