中国上市公司独立董事独立性研究

Analysis on the Independence of Independent Director of Listed Company in China

在上市公司中引入独立董事制度的目的,是希望这一新体制能够完善上市公司的公司治理结构,规范上市公司的运作,保护中小股东的合法权益。但事实上,这项新制度并没有起到预期的效果,独立董事的独立性作用没有得到应有的发挥。在独立董事制度的实行过程中,出现了由大股东操控任免、信息不对称、激励方式不规范等问题。要解决以上问题,强化上市公司独立董事的独立性,可以通过建立独立董事行业自律体系、健全独立董事的生成和退出机制,以及激励和约束机制等措施来实现。

The foremost purpose of introducing the independent director system in the listed company is to perfect the corporate governance structure, standardize the operation of the listed company ,protect the legitimate equity of minority shareholders. But in fact, the independent effect of the independent director has not been brought into effect fully. In the course of carrying out the independent director system, some problems have come forth such as the appointment controlled by large share - holders, information asymmetry, nonstandard Incentive means. The problems can be solved by establishing self - discipline system of the independent director profession, consummating the appointment mechanism and the incentive and restriction mechanism of the independent director.