独立董事的独立性、履职能力与公司财务舞弊——来自2006～2009我国上市公司的经验证据

Independence and Competency of Independent Directors and Corporations' Financial Fraud——Evidence from China's Listed Companies in 2006～2009

本文以2006～2009年期间发生财务舞弊的上市公司为研究对象,对我国独立董事的独立性、履职能力特征与公司财务舞弊的关系进行了实证考察。研究发现,独立董事和公司审计委员会中拥有财务管理或会计背景专家的比例越高,越有助于抑制公司的财务舞弊行为,不过现阶段,用以度量独立董事履职能力的薪酬水平和参会频率,与公司财务舞弊发生的可能性无显著相关关系。上述研究结论对监管部门推进独立董事制度建设,进而更有效地防范财务舞弊具有重要的参考价值。

Through using a financial fraud sample and its matching firms from Chiana＇s listed companies ounng 2006 ～2009, we examined the empirical relationships between the characteristics of independent director inclu- ding independence and competency, and the occurrence of financial fraud. We found that, the higher proportion of independent directors with professional background of finance or accounting in director boards or auditing com- mittees is correlated with the lower occurrence of financial fraud significantly. Nevertheless, we dont find signifi- cantly empirical relationships between allowance and attendance frequency of independent directors and likeli- hood of financial fraud. To some extent, the findings would be valuable to market regulator to improve independ- ent director mechanism and guard against financial fraud.