独立董事制度失效的博弈分析

Analysis of the Ineffectiveness of Independent Director System Using Game Theory

独立董事制度引入我国上市公司后 ,人们对其在公司治理中的作用寄予厚望。但从实际运作情况来看 ,该制度难以达到人们预期的效果。本文运用博弈理论 ,从个人理性和法律约束两个方面对我国上市公司中独立董事的境况进行分析 ,并提出完善独立董事制度的建议。

Since the Independent Director System was introduced in the limited companies in China, it was highly expected to play important roles on the corporate governance. But in fact, independent director could not achieve the expected goal at present. In this paper, the Game Theory was used to analyze the ineffectiveness of independent director. It is found that independent director can not play the role of supervision if it depends only on the individual rationality and legal obligation. Some relevant solutions were then proposed in the paper.