Concerns Affecting Behaviors of Independent Directors

This paper tries to find out whether some individual concerns will affect the behaviors of independent directors, specifically voting against proposals during the board meeting.We analyze career concern,compensation concern,reputation concern and term concern.The results show that individual director with longer career horizon,who is better compensated,with less board seats in other firms,and whose term is earlier than that of the board chairman is more likely to dissent.

Does the system of independent directors help improve the quality of accounting information： From the perspective of earnings conservatism

Based on the sample data of the listed firms on the A stock market, we analyze how the system of independent directors influence the earning conservatism from 4 dimensions designed to measure the monitoring power of these independent directors： Percentage within BDs, professional capacities, stimulation and work conditions. From the empirical results, we conclude that the more powerful of the independent directors, the better the accounting conservatism, and that their positive impact increases along with the improvement on corporate governance, meanwhile the work conditions plays the most important role, and then are the percentage within BDs and their professional capacities, the stimulation and personal reputation appear the least importance.

Board of Directors, Independent Directors and Audit Fees： Based on the Empirical Data of the GEM of China

As one of the alternative variables of audit quality, audit fees have been researched widely in the Mainboard of China stock market, but empirical research based on the GEM （Growth Enterprise Market） of China is very few. From the perspective of GEM of China, this article observes and studies the impact of corporate governance structure represented by board of directors and independent directors on audit fees. This article selects the data of 348 listed companies in the GEM of China in 2012, proves that there is a positive correlation between the number of meetings, independent directors＇ salaries and audit fees through the use of multiple linear regression model, and accordingly proposed suggestions that improve the corporate governance structure of the GEM of China.

Study on the Current Implementation Situation of the Independent Director System in China＇s Listed Companies

The independent director system, as an effective measure to improve the corporation governance structure of China＇ s listed companies, is focused by more and more people at the capital market. In this paper, the proportion of independent directors in the board of directors, and the actual condition, compensation, and duties performing of independent directors are analyzed by taking A-share listed companies in Shanghai Stock Exchange as an example, so that the current implementation situation of the independent director system in China＇ s listed companies is analyzed deeply through the empirical method. Finally, suggestions for its imorovement are orooosed.

The Criterion of weighting the independence of non-executive directors

Non-executive directors are now very well established in Chinese business. The uniform and final criterion of weighting the independence of non-executive directors is not available. It will be valuable to draw an analogy with the criterion of weighting the independence of non-executive directors in the UK, where over a dozen different criterions are applied.

Efficient Fast Independent Component Analysis Algorithm with Fifth-Order Convergence

Independent component analysis （ICA） is the primary statistical method for solving the problems of blind source separation. The fast ICA is a famous and excellent algorithm and its contrast function is optimized by the quadratic convergence of Newton iteration method. In order to improve the convergence speed and the separation precision of the fast ICA, an improved fast ICA algorithm is presented. The algorithm introduces an efficient Newton＇s iterative method with fifth-order convergence for optimizing the contrast function and gives the detail derivation process and the corresponding condition. The experimental results demonstrate that the convergence speed and the separation precision of the improved algorithm are better than that of the fast ICA.

The Effect of the Board of Directors and Audit Quality on Disclosure of Internal Control Practices: Evidence from European Companies

The purpose of this paper is to examine the effect of the board of directors,namely board size,board independence,and CEO duality,as well as audit quality on the disclosure of internal control information.The sample consists of 164 European companies listed in the STOXX Europe 600.Based on positive agency theory,the authors posit that board of directors and audit quality influence corporate internal control disclosure practice.The content analysis and the design of the evaluation criterion were used to calculate the disclosure index of internal control.Thus,multiple regression analysis is utilized to analyze the results of this paper.The average internal control information disclosure index was 0.285,indicating that most of the companies in our sample do not disclose enough information about the internal control.This low level of forward-looking information disclosure makes it very difficult for corporate stakeholders to determine the future performance of the company.Multivariate results indicate that internal control disclosure is positively and significantly associated with board independence,CEO duality,and audit quality.This study contributes to the literature on the various governance characteristics and disclosure by showing that the disclosure of internal control information in European countries is positively and significantly associated with board independence,separation of duties,and audit quality.Our study was based on a sample of European companies including countries regulating IC disclosure as well as unregulated settings.As noted by Bedard and Graham(2014),regulatory differences in countries can contribute insights on the costs and benefits of disclosure.Findings also have policy implications for investors,managers,and regulators.

The Independence-Separation Problem on the 3-D Rook’s Graph

Both independence and independence-separation problems on chessboard graphs have been studied in detail, with hundreds of papers in the broader independence category, and several on the independence-separation problem variant for chessboard graphs. In this paper, the inde-pendence-separation problem is considered on the d-dimensional rook’s graph. A lower bound of k, for , is found for the independence-separation number on the d-dimensional rook’s graph, denoted by . For the case where , it is found that when n is odd and , . Conjecture and discussion are added.

Coping strategy of independent directors for job-fulfillment risk under different ownership types and enforced legal environments

Ownership type,legal system evolution and their interaction significantly affect the incentives and behaviors of independent directors.We use the 2019 Securities Law revision as an exogenous shock to examine how state-owned enterprises(SOEs)versus non-SOEs and their independent directors respond to variations in regulatory compliance risk.Following the revision,SOEs are more likely to purchase directors’and officers’liability insurance to provide job security for independent directors.Non-SOEs are more likely to compensate for independent directors’fulfillment risk by increasing salaries and their independent directors are more likely to resign to avoid litigation risk.The coping strategies for SOEs,non-SOEs and independent directors are dynamic under different compliance risk stages and are affected by firm-level and director-level characteristics.

Voluntary resignation of independent directors and auditor responses:Empirical evidence from Chinese A-share listed firms

We examine auditor responses to the voluntary resignation of independent directors.We show that auditors respond by increasing audit fees or rescinding engagement with their clients,but not by increasing their audit effort.Mechanism tests reveal that independent directors’voluntary resignation leads to increased regulatory sanctions and negative media coverage,these relationships are more pronounced after the New Securities Law.Auditor response strategies follow an order of priority:at an acceptable level of perceived risk,auditors increase audit fees;when perceived risk exceeds this level,auditors will discontinue the client relationship.Auditors associate greater risk with firms that have(vs.have not)experienced consecutive voluntary resignations by independent directors.Mandatory resignation has no such effect.

Action Plan to Promote All-Round Progress in China's Human Rights Cause——An Interview with Wang Chen,director of the State Council Information Office

EDITOR＇S NOTE： The National Human Rights Action Plan of China （2009-2010） has won favorable comments in China and abroad since its publication by the Information Office of the State Council on April 13, 2009. Here is a transcript of an interview given to our reporters by Wang Chen, director of the Office, on the Action Plan, which we hope will help our readers gain a better understanding of China＇s human rights cause and its development.

Achievements in Safeguarding Disabled People's Rights——An Interview with Shen Zhifei,deputy general director of the China Disabled Persons' Federation

There are about 83 million disabled people in China, accounting for 6.34% of the total population, according to a national survey in 2006. As a disadvantaged group, the rights and interests of the disabled are arousing more concerns from all walks of society in the country. Following is Human Rights＇ interview with Shen Zhifei, deputy general director of the China Disabled Persons＇ Federation, on the legal guarantee of the special group＇s rights and interests, their rehabilitation, education and employment.

ESG评级分歧与独立董事薪酬

基于2009-2021年中国资本市场A股上市公司样本,从独立董事薪酬角度研究了ESG评级分歧的经济后果。研究发现:(1)ESG评级分歧越大,独立董事的薪酬越高;(2)基于风险补偿与声誉补偿视角的机制检验表明,ESG评级分歧主要通过影响独立董事任职风险进而影响独立董事薪酬;(3)异质性分析表明,在非国有控股、独立董事职业忧虑度高以及外部监督质量较低的企业中,ESG评级分歧与独立董事薪酬之间的正向关系更为显著。

本地任职与独立董事异议行为:监督效应vs.关系效应

本地任职对独立董事履职具有"双刃剑"功能,已有文献通常关注到本地任职之于独立董事的监督效应,鲜有研究涉及本地任职可能带来的关系效应,这对于深入理解中国的关系情境文化无疑是不完整的。基于此,本文选择独立董事异议行为作为切入点,以中国资本市场A股上市公司为样本,实证检验同本地任职紧密关联的关系效应存在与否及其情境特征和经济后果。研究发现:(1)本地任职与独立董事异议行为的概率和数量均显著负相关,表现为关系效应;(2)当企业所处地区法律环境水平较低时,本地任职对独立董事异议行为的关系效应显著增强;(3)本地任职降低了企业价值,且独立董事异议行为在这一过程中发挥了部分中介作用。以上结果揭示,本地任职削弱了独立董事的监督效果,支持了本地任职的关系效应假说,这一关系效应受制于法律环境水平,且本地任职会通过降低独立董事异议行为损害企业价值。因此,未来企业在聘请独立董事时需要考虑到本地任职的关系效应,也应将法律环境这一情境因素纳入考察范畴。本文为独立董事任职地点的关系效应提供了直接经验证据,有利于更加全面客观地评价本地任职的经济后果,同时也丰富了中国关系情境研究的相关文献。

面向家纺企业的B/S结构iS-ERP系统设计与实现

文章以家纺企业面临的实际情况为背景,为解决企业管理瓶颈,设计了一种以销、产、供为核心、与平台无关、柔韧性极强的B/S结构的ERP系统——iS-ERP。并详细介绍了此系统的设计和实现方法。应用结果数据显示此系统具有较好的应用效果。

独立学院转型发展的逻辑理性和实践指向--基于“K-S”组合分析模式的研究

文章通过对独立学院转型发展的路径演化过程进行梳理,指出独立学院的转型发展具有在内外因共同作用下,以创新为内核,以"发展-调适-优化-再发展"为演化路径的内在逻辑理性。在此基础上,文章构建"KS"组合分析模式对作用于独立学院转型发展的相关要素进行关键性评估和战略分析,进而探讨不同院校基于自身发展的实践路径:基础较好且优势明显的院校应加大创新力度,创建高水平应用型本科高校;基础扎实但优势尚不明显的院校应加强教育教学改革,提升办学的综合实力和创新人才培养能力;具有一定优势但存在办学风险的院校应强化办学特色,理顺各方关系,规范办学秩序,防控办学风险;办学实力较弱且面临一定困境的院校,应着力改进存在的不足,夯实育人质量,解决运行机制及管理体系方面的问题。

结合广义S变换和快速独立分量分析的局放信号中窄带干扰抑制方法

针对现有方法对局部放电(partial discharge,PD)信号中窄带干扰抑制效果较差的问题,提出了一种基于广义S变换和快速独立分量分析的窄带干扰抑制方案。该方案首先利用广义S变换对染噪PD信号进行时频分析,在染噪PD信号的时频分布图中,根据窄带干扰和PD信号的不同时频特征,可以确定窄带干扰的特征区域;然后在窄带干扰的特征区域中,利用Candan算法对窄带干扰的频率进行估计;最后利用窄带干扰频率估计值和快速独立分量分析方法分离出PD信号,实现窄带干扰抑制。仿真和实测结果说明,所提方法可以有效抑制染噪PD信号中窄带干扰,并且能准确获取PD信号的波形特征,对比传统的奇异值分解方法和快速傅里叶变换滤波方法,文中方法对窄带干扰的抑制效果更好,残余干扰的能量较小。

ESG框架下财会背景独立董事履职能否改善会计信息质量?--基于内部控制有效性的视角

基于内部控制有效性视角,运用人力资本和公司治理理论,结合ESG(环境、社会、公司治理)框架,依据2010-2019年沪、深主板上市公司数据,考量财会背景独立董事履职的三大维度与会计信息质量的关系。结果发现:财会背景独立董事占比越大,兼职同行业、同类型公司越多,年龄性别为非大龄女性,亲自与会次数越多,会计信息质量相对较高;而在任期和薪酬回归结果与稳健性检验则出现了背离。进一步研究表明,与国有上市公司相比,非国有上市公司财会背景独立董事履职在薪酬、任期和亲自与会次数三方面对会计信息质量有更好的促进作用。

独立董事制度新思考:“独立”与“懂事”——来自沪深主板A股ST上市公司数据分析

通过对2007年-2011年ST上市公司审计意见、重大违规以及独立董事薪酬等方面的分析,提出了完善上市公司独立董事制度的关键是完善ST公司独立董事制度,并建议建立独立董事人才库来完善ST公司独立董事制度。对此,也提出了建立独立董事人才库的具体方案。由此,这必将带动非ST公司独立董事制度的完善,有利于我国公司治理结构的完善。