风险感知力与独立董事辞职行为研究——来自中国上市公司的经验

Research on Perception Ability of Risk and Resignation of Independent Directors: Case Study of Chinese Listed Companies

独立董事辞职的根本原因是为了避免可能承担的风险。基于风险感知能力的差异,独立董事能对简单单一的风险有显著的感知力,但当多方面的风险一起存在时,只有少数透明的风险信息才能真正被各类不同背景特征的独立董事所感知并做出辞职选择,而相对缺乏透明度的信息,由于难以被感知而容易被独立董事忽视。文章还表明,不同职业背景的独立董事对不同风险的感知力存在显著差异。如何获得透明度高的信息是提高独立董事风险感知与判断力的关键。

Corporation risks are important factors that lead to the resignation of independent directors.The fundamental reason for the resignation is the avoidance of potential risks.The difference of the perception ability towards risks makes independent directors,in many aspects,have significant perception ability towards simple and single risk.However,when all of those risks are mixed together,only a little information of transparent risk can be really perceived by the independent directors and then resignation decision could be made.Further study indicates that independent directors with different career backgrounds are different in the perception ability on different risks.Therefore how to provide transparent information is a key factor to increase the perception ability and judgment of risks.