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《The Study of Finance and Economics》 2004-02
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Transplantation and Indigenization of Independent Director Mechanism——Based on a Questionnaire Survey on 500 Chinese Listed Corporations

TANG Yue-jun~1, XIAO Guo-zhong~2(1.International Business School, Nankai University, Tianjin 300071,China;2.School of Law, Nankai University, Tianjin 300071, China)  
The flaws of corporate governance of Chinese corporations make it necessary to transplant independent director mechanism. But the special characteristics of the governance of "dual corporate governance system" and "the final-say as a big shareholder" decides that we must indigenize independent director mechanism instead of wholly accepting such mechanism without some necessary changes. With these viewpoints, the paper first introduces the emergence of independent director mechanism and functions of independent director in corporate governance. Then, it discusses the necessity and possibility of transplanting independent director mechanism in China. Finally, it focuses on how to realize indigenization of independent director mechanism in China from three aspects based on specific realities in China.
【Fund】: 国家自然科学基金主任基金应急项目(701410011)
【CateGory Index】: F271
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