上市公司独立董事比例选择研究

Study on the choice of independent directprs of listed company

作为董事会治理的重要组成部分,独立董事制度在现代企业发展中发挥着越来越重要的作用。本文首先基于独立董事比例比较了其他国家的几种董事会结构类型,然后对独立董事比例影响公司绩效和公司战略的已有研究作了简要梳理,进而结合中国上市公司的特殊情况探究了上市公司独立董事比例的选择问题。

As an important component of the governance of the board, the independent directors system is playing a more and more important role in the development of the modern enterprises. The paper firstly compared the board structures in some other countries based on the proportion of independent directors, and then briefly reviewed the present research on how the proportion of the independent directors influences a company＇ s strategy. In the end, we construct a model to indicate that there is an optimum choice relationship between the governing efficiency of the board and the proportion of the independent directors. And it is not proper to simply regard the more independent the board is, the better the company＇ s governing efficiency and performance are.