董事高管责任保险的公司治理效应:理论综述与研究展望

Governance Effect of Directors' and Officers' Liability Insurance: Literature Review and Research Prospects

发端于欧美等成熟资本市场的董事高管责任保险公司治理理论日臻完善,但是否适用于处于经济转型期的中国市场仍值得进一步探讨。本文试图从一个逻辑一致连贯的角度,对已有的董事高管责任保险公司治理相关理论进行回顾与评述。首先,以董事高管责任保险的公司治理角色为切入点,剖析董事高管责任保险公司治理的理论基础;其次,从公司绩效、投资效率等方面梳理和介绍董事高管责任保险公司治理的经验证据;最后,对目前董事高管责任保险的研究现状进行归纳与述评,并提出未来研究展望。

Directors' and officers' liability insurance, which originated in developed capital markets, has almost built its governance theory. But whether it is suitable for the Chinese market is still worthy of further exploration. This paper, from a logically consistent and coherent point of view, reviews and comments the theory of directors' and officers' liability insurance comprehensively. First, considering directors' and officers' liability insurance's corporate governance role, we analyze its influence on corporate governance. Second, from the perspective of corporate performance, investment efficiency and other aspects, we illustrate empirical evidences about the governance effect of directors' and officers' liability insurance. Finally, we summarize and review the current status of research on directors' and officers' liability insurance and provide prospects for the future related research.