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《The Journal of Quantitative & Technical Economics》 2008-04
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Does Independent Director really Influence on Internal Governance Mechanism

This paper indicates that the introduction of independent director has limited effect on the leadership structure of directorate,but it can minimize the size of board to a reasonable level,and increase the amount of internal committee dramatically.In routine operation,independent director has limited effect on the change of board chairman and CEO,but has weak influence on the choosing of their successors.These findings prove the positive effect of independent director in the board.This paper also finds that independent directors of academic type has most wide influence,and independent directors of enterprise type has strong intention in reducing scale of supervisory board and this is meaningful to the corporate governance in the future. Comparatively,independent directors of government background have least influence in the corporate governance.
【Fund】: 国家自然科学基金重点项目“公司财务管理若干基础问题研究”(70632001)的资助
【CateGory Index】: F224;F271
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