本文關(guān)鍵詞：風(fēng)險(xiǎn)投資參與對(duì)獨(dú)立董事獨(dú)立性的影響研究　出處：《華東理工大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

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【摘要】：目前我國(guó)上市公司中的獨(dú)立董事沒(méi)有發(fā)揮其應(yīng)有的作用,就是因?yàn)楠?dú)立董事的獨(dú)立性沒(méi)有得到充分的保證。阻礙獨(dú)立董事獨(dú)立性發(fā)揮的原因：內(nèi)因方面是指公司的獨(dú)立董事大都是某一個(gè)領(lǐng)域的專業(yè)人才,可能對(duì)公司其他方面的決策沒(méi)有十分全面的了解。外因方面是指獨(dú)立董事的選任職機(jī)制,激勵(lì)和約束機(jī)制,行權(quán)機(jī)制的不完善。而風(fēng)險(xiǎn)投資的參與會(huì)對(duì)上市公司的公司治理產(chǎn)生重要的影響,會(huì)影響?yīng)毩⒍碌娜藬?shù),董事會(huì)占比等。風(fēng)險(xiǎn)投資的參與對(duì)獨(dú)立董事的獨(dú)立性到底有沒(méi)有影響呢?本文選取深圳中小板2006-2011年和深圳創(chuàng)業(yè)板2009-2011年的公司數(shù)據(jù)作為樣本數(shù)據(jù),實(shí)證研究得出,首先風(fēng)險(xiǎn)投資的參與對(duì)獨(dú)立董事親自出席董事會(huì)議的次數(shù),獨(dú)立董事的質(zhì)疑有一定的影響,但是影響都不顯著。其次,風(fēng)險(xiǎn)投資的參與度也會(huì)影響?yīng)毩⒍碌莫?dú)立性。具體說(shuō)來(lái),風(fēng)險(xiǎn)投資的持股比例越大,獨(dú)立董事越敢質(zhì)疑。但是風(fēng)險(xiǎn)投資機(jī)構(gòu)的家數(shù)越多,反而對(duì)獨(dú)立董事的質(zhì)疑有負(fù)作用。最后,獨(dú)立董事發(fā)揮其獨(dú)立性,也就是獨(dú)立董事對(duì)公司質(zhì)疑以后,對(duì)公司業(yè)績(jī)沒(méi)有促進(jìn)作用,這可能是因?yàn)楠?dú)立董事自身缺乏豐富的企業(yè)管理知識(shí)和管理經(jīng)驗(yàn),不能對(duì)公司業(yè)績(jī)的提升發(fā)揮應(yīng)有的作用。
[Abstract]:At present, the independent directors of listed companies in China have not played their due role. It is because the independence of the independent director has not been fully guaranteed. The reason that hinders the independent director's independence is that the internal reason is that the independent director of the company is mostly a professional in a certain field. May not have a very comprehensive understanding of other aspects of the company's decision-making. External factors refer to the independent director selection mechanism, incentive and restraint mechanism. And the participation of venture capital will have an important impact on the corporate governance of listed companies, and will affect the number of independent directors. Does the participation of venture capital affect the independence of independent directors? This article selects the Shenzhen small and medium-sized board 2006-2011 and Shenzhen gem 2009-2011 company data as the sample data, the empirical research obtains. First of all, the participation of venture capital has a certain impact on the number of independent directors attending the board meetings, the independent directors' doubts, but the impact is not significant. Secondly. The participation of venture capital will also affect the independence of independent directors. Specifically, the greater the proportion of venture capital holding, the more dare independent directors question. But the more the number of venture capital institutions. Finally, the independent director exerts its independence, that is, the independent director does not promote the performance of the company after questioning the company. This may be due to the lack of rich managerial knowledge and experience on the part of the independent directors themselves, which can not play their due role in improving the performance of the company.
【學(xué)位授予單位】：華東理工大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F271;F832.51

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