论文部分内容阅读
中共中央组织部18号文件引发的官员独立董事辞职潮侧面反映了官员独立董事在我国上市公司中广泛存在。本文以2011~2013年沪深两市上市公司为样本,在全样本基础上,将样本按照产权性质划分为国有企业和民营企业,实证研究了中国上市公司聘请官员独立董事的可能性与产权保护水平、政府干预水平、金融发展水平等正式制度环境以及公司是否进入垄断行业之间的关系,分析了上市公司选聘官员独立董事的内在逻辑。本文细化了独立董事的关系资源职能,为理解中国上市公司聘请官员独立董事的现象提供了新的视角。
The official resignation of officials caused by the document No. 18 of the Central Organization Department of the CPC Central Committee reflects the fact that the independent directors of officials are widespread in Chinese listed companies. Based on the whole sample, this paper divides the sample into state-owned enterprises and private-owned enterprises according to the nature of property rights, and studies the possibility and property protection of Chinese listed companies hiring independent directors of listed companies Level, the level of government intervention, the level of financial development and other formal institutional environment and whether the company entered the monopoly industry, analyzes the inherent logic of selecting listed independent officials of listed companies. This article has refined the relational resources function of independent directors and provided a new perspective for understanding the phenomenon of employing listed independent directors in China.