本文選題：上市公司 + 獨立董事特征��； 參考：《長安大學(xué)》2017年碩士論文

【摘要】：獨立董事制度作為現(xiàn)代公司治理的重要內(nèi)容一直是學(xué)術(shù)研究的熱點之一。該制度在我國上市公司實行已有十多年,其與公司績效的關(guān)系問題至今未得到統(tǒng)一的結(jié)論。EVA被認為是非常具有代表性的績效指標,其引入中國已有一段時間,應(yīng)用已比較成熟;另外,獨立意見作為表征獨立董事履職成果和上市公司合規(guī)經(jīng)營情況的一項特征,還未被以往學(xué)者納入到研究獨立董事與企業(yè)績效的關(guān)系中去。在經(jīng)濟和管理環(huán)境發(fā)生巨大變化情況下,學(xué)術(shù)界缺乏從EVA績效指標以及獨立意見數(shù)量角度對獨立董事特征的研究。本文研究的目的在于廓清獨立董事特征與企業(yè)績效指標EVA之間的關(guān)系問題,以使獨立董事制度更好發(fā)揮其作用。目前,中國已經(jīng)成為世界第二大經(jīng)濟體,公司治理問題日益成為國內(nèi)外學(xué)術(shù)界和企業(yè)界關(guān)注的焦點,獨立董事在我國企業(yè)中扮演的角色日益重要。中國經(jīng)濟步入新常態(tài),面臨結(jié)構(gòu)調(diào)整,獨立董事制度實施以來也爆出許多問題,因此,加強獨立董事制度的作用研究特別是與企業(yè)績效的關(guān)系研究有利于我國企業(yè)完善公司治理,改善績效。本文首先研讀國內(nèi)外學(xué)者的相關(guān)文獻,在總結(jié)前人相關(guān)研究的優(yōu)缺點基礎(chǔ)上,發(fā)現(xiàn)獨立董事與EVA的關(guān)系以及獨立意見尚值得研究。在選取企業(yè)績效評價理論、EVA理論以及委托代理等作理論基礎(chǔ)后,開展研究設(shè)計。研究設(shè)計采用以往學(xué)者較少使用的EVA指標來衡量績效,選取獨立董事比例、女性比例、年齡、學(xué)歷水平、薪酬、獨立意見數(shù)量和出席率七個特征建立與EVA關(guān)系的假設(shè),以滬深300指數(shù)成分股上市公司作為研究樣本建立回歸模型進行實證研究。實證過程采用描述性統(tǒng)計分析、相關(guān)性分析、共線性診斷和回歸分析方法。本文研究結(jié)果顯示,獨立董事比例、年齡、學(xué)歷水平、薪酬和出席率與EVA都具有顯著正相關(guān)性,女性比例與EVA只具有微弱的相關(guān)性,獨立意見數(shù)量與EVA是顯著負相關(guān)。研究結(jié)果一方面驗證了部分新的觀點,另一方面為從公司治理角度改善EVA的研究提供了新的視角�；趯嵶C研究的結(jié)果,本文針對獨立董事比例、女性比例等七個特征提出了針對性的、較為細化的政策建議,以期對完善獨立董事制度、改進公司治理以及提高企業(yè)績效提供借鑒。
[Abstract]:As an important part of modern corporate governance, independent director system has always been one of the hot topics in academic research. The system has been implemented in China for more than ten years. The relationship between the system and corporate performance has not been unified. Eva is considered to be a very representative performance index. It has been introduced into China for a period of time, and its application has been relatively mature. In addition, as a characteristic of independent directors' performance and compliance management, independent opinion has not been included in the study of the relationship between independent directors and corporate performance. In the case of great changes in the economic and management environment, the academic community lacks of research on the characteristics of independent directors from the point of view of EVA performance indicators and the number of independent opinions. The purpose of this study is to clarify the relationship between the characteristics of independent directors and EVA, so that the independent director system can play a better role. At present, China has become the second largest economy in the world, corporate governance has increasingly become the focus of academic and business circles at home and abroad, and independent directors play an increasingly important role in Chinese enterprises. China's economy has entered the new normal and is facing structural adjustment. Since the implementation of the independent director system, many problems have emerged. Strengthening the research on the function of independent director system, especially the relationship between independent director system and enterprise performance, is beneficial to the improvement of corporate governance and performance. This paper first studies the relevant literature of domestic and foreign scholars, on the basis of summarizing the advantages and disadvantages of previous relevant studies, it finds that the relationship between independent directors and EVA and independent opinions are still worth studying. After choosing EVA theory and principal-agent theory as the theoretical basis, the research and design are carried out. In this study, EVA indicators, which were rarely used by previous scholars, were used to measure performance, and seven characteristics of independent director ratio, female ratio, age, education level, salary, number of independent opinions and attendance rate were selected to establish the hypothesis of the relationship between EVA and EVA. Shanghai and Shenzhen 300 index listed companies as research samples to establish a regression model for empirical research. The empirical process uses descriptive statistical analysis, correlation analysis, co-linear diagnosis and regression analysis. The results show that the proportion of independent directors, age, educational level, salary and attendance rate have significant positive correlation with EVA, the proportion of women has only a weak correlation with EVA, and the number of independent opinions is significantly negative correlation with EVA. On the one hand, the research results verify some new viewpoints, on the other hand, it provides a new perspective for the study of improving EVA from the perspective of corporate governance. Based on the results of the empirical research, this paper puts forward specific and detailed policy recommendations for the seven characteristics of independent director ratio and female proportion, in order to perfect the independent director system. Improve corporate governance and improve corporate performance to provide reference.
【學(xué)位授予單位】：長安大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F271;F832.51;F275

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