Research On The Influence Of Independent Director In The Background Of Universities And Colleges On Accounting Information Quality

In 1940,the United States enacted the Investment Company Law to introduce independent directors into corporate governance in the form of legislation.Until the "Watergate Incident" in the 1970 s,the US Securities and Exchange Commission urged all listed companies to set up an audit committee composed of independent directors.In1993,Tsingtao Brewery build the independent directors beacause of listing on the Hong Kong Stock Exchange.Since 2001,China has promulgated the Guidance Opinion on the Establishment of Independent Director System in Listed Companies(Draft for Soliciting Opinions),and the independent director system has been continuously developed and perfected.In recent years,the supervision of the government part-time party becomes more and more strict,from the 2013 Central Organization Department issued a document led to the political background of the appointment of independent directors is limited,so that the political background of independent directors leaving tide,but also makes the structure of independent directors larger Change,eventually leading to the proportion of independent directors of colleges and universities to further increase.By the beginning of November 2015,the General Office of the Ministry of Education promulgated the Circular on Carrying out the Special Examination of Party and Government Leading Cadres in the Enterprise Part-time Jobs(hereinafter referred to as the Circular),and restricted the independent directors of the universities.That lead to the structure of independent directors changed again,the structure changes will affect the corporate governance of listed companies do?This paper,through the characteristics of independent directors of colleges and universities to further analyze what kind of independent directors more effective?In the theory part,I explain the necessity of the independent director by the theory of principal-agent,at the same time,it introduces the stakeholder theory and incomplete contract theory,problem.In the course of China's policy development,it is found that the main factors to ensure the independent directors are independent and professional.Has the supervision and the strategy function to the enterprise's accounting information quality.This paper from the independence of independent directors and professional colleges and universities in both the analysis of assumptions,the impact of accounting information on the design of empirical research.In the empirical part,this paper chooses the company of independent directors of Shenzhen Stock Exchange from 2012 to 2014 as the sample,and takes the credit rating of Shenzhen Stock Exchange as the dependent variable,which is more able to reflect the quality of accounting information.The independence of independent directors is the most significant Level and financial background,as well as the legal background of the independent director of the university,the regression analysis is carried out by multiple regression analysis.Finally,the Jones model,which is the most widely used in accounting information quality,is substituted for Shenzhen Stock Exchange credit rating to conduct a robust test to obtain the most conducive to the quality of accounting information of listed companies the characteristics of independent directors.This not only provides reference suggestions for listed companies to the candidates for independent directors,but also provides suggestions for the further perfection of the independent director system.The results of this paper are as follows:(1)The existence of social relations may lead to the independence of independent directors,and finally reduce the quality of accounting information of listed companies.(2)The empirical results show that the independent directors(3)the relevant professional background,that is,financial background and legal background of the independent directors of the university can improve the quality of accounting information,which means that the quality of accounting information of listed companies can be improved by improving the accounting information quality,The professionalism of the independent directors of colleges and universities will still help improve the quality of accounting information of listed companies.In view of this,the paper put forward the corresponding policy and practical suggestions.(2)In order to ensure the quality of accounting information,the enterprise can choose more professional and more professional.(2)In order to ensure the independence of the independent directors,it is necessary to select the independent directors,so as to avoid the influence of some social relations.(3)from the policy point of view,the relevant departments can improve the supervision of independent directors and the role of strategic functions.The main innovations of this paper are as follows:(1)This paper analyzes the change of independent director system,summarizes the characteristics of independent directors and analyzes the mechanism of listed company's accounting information quality,so the research content is innovative;(2)Independence and professionalism as the entry point,the independent directors of different universities on the quality ofaccounting information of listed companies,and affirmed the relevant policy requirements,and now there are few special background of the independent directors of the University of careful study of the article,So the research point of view there is some innovation.