Study On External Director System Of State-owned Enterprises In China

As an important measure to improve the construction of the board of directors of state-owned enterprises,the external director system is introduced by the SASAC of the State Council to improve the scientificity of the decision-making of the board of directors of state-owned enterprises.The construction of the board of directors of state-owned enterprises is an important part of the reform of state-owned enterprises.Since the 1990 s,China’s state-owned enterprises have begun to explore the reform of the governance mode of state-owned enterprises in accordance with the relevant requirements of the modern corporate governance system,and gradually established a modern corporate governance structure with the board of directors as the core.At the beginning of the 21 st century,according to the needs of the development of capital market and the requirements of laws and policies,the independent director system is generally established in modern companies,and the role of independent director is gradually recognized by more and more people.Different from the independent director system of listed companies,in practice,the connotation and scope of the external directors of state-owned enterprises are larger than the independent directors.In the process of improving the corporate governance of state-owned enterprises in China,the establishment of external director system plays a positive role in promoting the construction and improvement of state-owned enterprise system.The external director system is an important measure to strengthen the construction of the board of directors.It plays an irreplaceable role in both the supervision function in the decision-making of the board of directors and the scientific and fair decision-making of the board of directors.The implementation of the external director system can avoid making wrong decisions based on personal opinions and ignoring other opinions,so as to better represent the interests of investors.With the development of global economy,in order to adapt to the general trend of economic development and the increasingly fierce market competition,China’s state-owned enterprises must strengthen and improve the construction of the board of directors.The construction of the board of directors includes many links.Every reform and measure isrelated to the lifeblood of the development of the enterprise’s board of directors,and the improvement of the external director system is the core to improve the structure of the board of directors Part.The external director system of state-owned enterprises can not only alleviate the situation that internal personnel control the company,but also play a multiplier effect on the efficient operation of enterprises.According to the practical results in recent years,the extensive application of the external director system in state-owned enterprises is of decisive significance for improving the corporate governance ability and eliminating the operation lag of enterprises.At present,the construction of the external director system of state-owned enterprises in China is still trying,although some achievements have been made,there are still many places worth improving and thinking,such as lack of enterprise participation in the recruitment process of external directors in terms of training and selection,unclear responsibilities in terms of authority and responsibility and the board of supervisors,and limited differences in responsibilities with independent directors On the one hand,the external directors have limited energy,low degree of independence,few measures in evaluation and incentive,and poor systematization.In this regard,this paper puts forward some corresponding suggestions: first,focus on high-level and high-quality,broaden the selection channels,and ensure the level and quality of the external director team from the source;second,build a safe performance platform to better provide a solid guarantee for the smooth operation of the external director system,and improve the performance efficiency of external directors;third,money incentive and non money incentive complement each other At the same time,pay more attention to the evaluation mechanism of personal reputation and quality,improve the integrity and accuracy of the evaluation results,and better implement the external director system of state-owned enterprises.