以我国深市A股普通机械制造业板块34家上市公司为研究对象,实证分析我国独立董事报酬水平对保护中小股东权益的影响。指出独立董事报酬水平与中小股东权益保护之间不存在显著的倒U型关系,其担任独立董事的收入仅仅是其总收入的一小部分,薪酬激励对于行权的影响并不大,他们可能更在乎自己的声誉,建议建立独立董事声誉激励机制。 Taking the 34 listed companies in China A-share ordinary machinery manufacturing sector as the research object, this paper empirically analyzes the impact of the remuneration of independent directors on the protection of the rights and interests of small and medium-sized shareholders. Pointing out that there is no significant inverted U-shaped relationship between the level of remuneration of independent directors and the protection of small and medium-sized shareholders. The income of independent directors is only a small part of their total income, and remuneration incentives have little effect on the exercise of their rights. They may More care about their own reputation, it is recommended to establish an independent director reputation incentive mechanism.