董事会特征对会计信息披露质量的影响——来自我国上市公司的经验证据

The Effect of Board of Director on Quality of Accounting Information Disclosure——Empirical Evidence from China's Listed Corporate

检验了我国董事会制度改革对强制性和自愿性信息披露质量的影响。研究发现:独立董事比例、独立董事超过1/3、"二元"领导权结构、财务专业背景的独立董事比例、审计委员会的存在、以及公司规模和雇佣"四大"与会计信息披露质量成显著正相关;灰色董事和内部董事超过1/3、配股动机与会计信息披露质量成显著负相关;而董事会规模、董事会会议次数、CEO变更、董事持股比例和财务杠杠与会计信息披露质量不显著。此外,还发现独立董事超过1/3、"二元"领导权结构、财务专业背景的独立董事比例和审计委员会的存在是影响强制性和自愿性信息披露质量最为显著的因素。

This paper investigates the impact of board of director on quality of accounting information disclosure in China.h is found that the proportion of independent director,the number of independent director exceeding over half, ＂dual class＂ leader structure ,the existence of audit committee ,director profession ,firm size and hiring ＂Big Four＂are positive significantly with on quality of accounting information disclosure;and that the number of grey director and internal director exceeding over half, offering rights are negative significantly with on quality of accounting information disclosure;but that board size,board meeting frequency,CEO takeover,director ownership and leverage are irrelative with on quality of accounting information disclosure.Moreover,among the characters,we found that the number of independent director exceeding over half, ＂dual class＂leader structure,director profession and the existence of audit committee had the most effect on quality of accounting information disclosure.