依稀还记得2004年12月,在《董事会》杂志发布“2004年中国上市公司十差董事会”之后的第二天,位列榜首的伊利股份即曝出丑闻,包括董事长郑俊怀在内的多名高管因涉嫌挪用公司巨额公款为个人牟利,被司法机关采取强制措施。当时的直觉告诉我们,这也许是一种巧合。可是刚刚过去一周时间,四川长虹即曝出40亿元人民币应收账款可能无法收回,从而导致公司2004年度出现巨额亏损。四川长虹也是《董事会》杂志当年评出的“十差董事会”的上榜公司,而这笔坏账正是教父式人物倪润峰主导长虹董事会时期留下的产物。此时,我们开始隐约感到,偶然事件的背后可能蕴藏着某种必然,尽管我们仍然未有十足的把握断定缺乏民主的董事会是此类事件的真正根源。就这样过去了一年,《董事会》杂志依然坚持自己的公司治理理念继续着国内上市公司董事会的评选工作。可就在评选紧张进行之际,2005年的12月12日,曝出让整个新闻界为 Vaguely remember the December 2004, the day after the publication of the “Board of Trustees” magazine “2004 China Top 10 Board of Directors”, the top Yili shares exposed the scandal, including Chairman Zheng Junhuai A number of executives suspected of embezzling huge corporate public funds for personal profit, the judiciary to take coercive measures. The intuition at that time told us that this may be a coincidence. However, just a week in the past, Sichuan Changhong is exposed 4 billion yuan accounts receivable may not be recovered, resulting in a huge loss of the company in 2004. Sichuan Changhong is also listed in the “Board of Directors” magazine in the same year, and this bad debt is exactly what the godfather Ni Runfeng led the board of directors of Changhong. At this juncture, we begin to vaguely feel that there may be some inevitable behind accidental events, though we are still not fully confident that the lack of a democratic board of directors is a real source of such incidents. Just a year later, the “Board of Directors” magazine still insisted its own concept of corporate governance continues the selection of the board of directors of domestic listed companies. But in the selection of the occasion of tension, December 12, 2005, exposed the entire press for