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《Communication of Finance and Accounting(Academy Version)》 2007-04
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The Validity Research on Independent Director System in China——Based on the Agency Connection between the Independent Directors and Shareholders

Chen Xudong Chi Danfeng(Economy and Trade School of Shihezi University,Shihezi,Xinjiang 832003)  
Independent directors are also attorneys of the residual income in nature,and they themselves are a part of agency problem at first.Independent directors may not be a kind of efficient corporate governance mechanism until the agency problem between independent directors and shareholders has been sufficiently alleviated.According to the analysis of independent directors' behavior,we illuminate the attorneys' character of independent director.After explaining the connection between the independent directors and shareholders,we find factors that affect the validity of independent director system.At last we put forward some suggestions to perfect the system.
【CateGory Index】: F276.6;F832.51
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