导　　师： 胡东波

学科专业： 120202

授予学位： 硕士

作　　者： ;

机构地区： 暨南大学

摘　　要： 本文在总结了目前国内外独立董事制度的研究现状的基础上,提出从股东控制权私利这个角度来研究我国上市公司独立董事制度。独立董事制度的施行目的是要维护上市公司股东的利益,特别是中小股东的利益。而能够损害中小股东利益大致来自两个方面,一个方面是管理层不道德的代理,所谓的代理人道德风险,另一方面是大股东、控股股东对中小股东的利益侵占,所谓公司控制权私利。本文是从大股东侵占中小股东利益这一角度来研究我国独立董事制度的。 本文首先在理论分析上将我国独立董事制度这一个较为综合与复杂的概念,逻辑分解成七部分,包括独立董事的功能性,独立性,任选机制,独立董事规模,独立董事占董事会成员比例,独立董事薪酬,独立董事的职权。在实证部分将这七部分提取出三个便于量化分析的变量作为我国独立董事制度这个概念的定量分析变量。接着引入控股股东控制权私利的概念和测量办法,在结合我国实际情况下,简化了前面学者关于控制权私利的测量办法,以2006—2010年间中国2026家上市公司为研究范围,以一定的标准筛选获得满足研究要求的78个样本,实证研究这些样本公司控制权私利和他们的独立董事制度量化变量的相关性,最后得出结论：我国上市公司的独立董事薪酬总量与该公司控制权私利呈显著性的负相关；而独立董事总人数和独立董事占董事会总人数的比例未发现与公司控制权私利有显著的相关性,同时本文还发现公司资产规模、所在行业与控制权私利也有一定的相关性。 This paper summarizes the current system of domestic and international research status of independent directors, propose research on China's system of independent directors of listed companies from the perspective of shareholders private benefits of control. The purpose of implementation of independent director system is to protect the interests of shareholders of listed companies, especially small and medium shareholders. And there are two sources from which could harm minority stockholders profits, one source is from management immoral agent, so-called agent moral hazard, and the other is from big shareholders, the controlling shareholders occupying the interests of small and medium shareholders, so-called private benefits of control. I study China independent director system from this point of view that the large shareholder occupying minority shareholders. Firstly, in the theoretical analysis, the independent director system in China that a more comprehensive and complex concept, can be logically broken down into seven parts, including the function of independent directors, independence, choice of mechanisms, the scale of independent directors, independent directors members Proportion of independent directors remuneration, independent directors of the authority. In the empirical part of this seven-part will facilitate the quantitative analysis to extract three variables from the system as an independent director of quantitative analysis of the concept of variables. Then, introduce the concept of private benefits of control and measurement methods, and according to actual situation in our country, simplify the measurement approach some measuring methods, measuring the period 2006-2010 private benefits of control of listed companies in China, within a certain standard, 78 samples screened, and then empirical study relevance of their private benefits of control and system of independent directors of each variable, the final conclusion:the total amount salary of independent directors of listed companies and the company private benefits of control was significantly negatively correlated, while the total number of independent directors, the proportion of independent directors, was not found significantly related to private benefits of control, while in this paper I also find the total amount of assets of listed companies,the industries of companies also have some relevance with private benefits of control.

关 键 词： 独立董事制度 控制权私利 相关性分析

分 类 号： [F276.6 F271 F224]

领　　域： [经济管理] [经济管理] [经济管理] [经济管理] [经济管理]