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《Policy-making Reference》 2005-04
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Motivations and Functional Roles in Chinese Independent Director Systems——Based on China′s Shanghai Securities Market

TANG Qing-quanSchool of Business, Sun Yat-Sen University,Guangzhou 510275,China  
This empirical study finds that independent directors have "vase" effect, decision effect and risk-avoidance effect under the motivation interactions between listed companies and independent directors, even though listed companies play a key role in determining the role position of independent directors. The results imply that independent directors still play effective roles in some aspects though Chinese independent director systems have various defects in effectveness. Based on the results, the independent directors could be able to take on and play their good roles only if the Chinese independent director systems are designed or adjusted in considering these motivations and effectes produced in such systems.
【Fund】: 国家自然科学基金资助项目(70272021)
【CateGory Index】: F832.5
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