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《Journal of Sun Yatsen University(Social Science Edition)》 2002-05
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The Institution of Independent Directors and Shareholder Wealth

LI Shan-min , CHEN Zheng-dao ( School of Management, Sun Yat-sen University, Guangzhou, 510275)  
This paper uses case study framework to examine 114 listed companies in China before 2001. The authors find that the appointment oi: independent directors to the board of listed companies is associated with positive cumulative abnormal return (CAR). In analyzing the CAR factors, the companies that have independent directors majoring in management or economics, the companies that have appointed independent directors during 2001 and the companies in Shenzhen Stock Exchange acquire positive cumulative abnormal return.
【Fund】: 国家社会科学基金资助(02BJY067)
【CateGory Index】: F276.6
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1 Shao Shaomin Wu Canglan Lin Wei;Outside Directors, Board Composition and Shareholding Structure: An Empirical Test of the Listed Companies in Zhejiang Province[J];World Economy;2004-02
2 HU Zhao-hui1,XIA Yun2(1.School of Management,Sun Yat-sen University,Guangzhou 510275;2.Shuhai Branch,Jinan University,Zhuhai 519070,China);Can Independent Directors Increase the Bidding-Firm Shareholders' Wealth——Data from of the Takeover Evidence China's Listed Companies[J];Journal of Shanxi Finance and Economics University;2007-04
3 LI Yan(School of Business,Zhanjiang Normal College,Zhanjiang,Guangdong 524048,China);An Empirical Study of the Relationship between Board Structure and IPO Underpricing[J];Journal of Zhanjiang Teachers College;2005-05
4 FAN ZHOU JINSONG TAN YUYIN JIAN (Sun Yat-sun University);Reputation Incentive or Economic Incentive—An Empirical Study on Job-hopping Behaviors of Independent Directors[J];China Accounting Review;2008-02
Chinese Journal Full-text Database 10 Hits
1 MA Shou-li(Dept.of Economy Management of Chuzhou College,Chuzhou,Anhui 239000,China);China′s 2003 independent trustee system and the analysis of the accomplishment of the listed companies with subtantial evidence[J];Journal of Pingdingshan Teachers' College;2004-05
2 WANG Hong-yan,HUANG Yu,CHEN Zhi-jie(Tourism and Management College,Central South Forestry University,Changsha,Hunan 410004,China);Probe into the performance management[J];Technological Development of Enterprise;2004-09
3 XIANG Chao jin, XIE Ming(School of Business Administration, Sichuan University, Chengdu 610064, China);Corporate Governance and Performance[J];Journal of Sichuan University(Social Science Edition);2003-02
4 LI Jun-lin (School of Economics ,Renmin University of China ,Beijing 100872,China);Reputation, Controling Power and Game Equilibrium——A Game Analytical Framework and its Application to State-Owned Enterprises[J];Journal of Shanghai University of Finance and Economics;2002-04
5 LI Wei-an, HAO Chen(Center for the Studies of Corporate Governance, NanKai University, Tianjin 300071, China);An Empirical Research of Supervisory Board Governance in China’s Listed Companies[J];Journal of Shanghai University of Finance and Economics;2006-03
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【Secondary References】
Chinese Journal Full-text Database 10 Hits
1 WU Ai-hui(Law School,Southwest University for Nationalities,Chengdu,Sichuan 610041,China);Legislative Analysis of Directors and Senior Managers' Direct Responsibility for Shareholders[J];Journal of Sichuan University(Humanities & Social Sciences);2008-01
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1 ;The Research on Several Realistic Issues of Our Public Accounting Firms’ Merger[A];[C];2004
2 ZHOU Fan and ZHANG Xinyi School of Economics and Management, Tsinghua University, Beijing,100084;How do companies adjust independent directors after a mishap?——Evidence from independent directors' background[A];[C];2009
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