北京工商大学学报：社会科学版
北京工商大學學報：社會科學版
북경공상대학학보：사회과학판
JOURNAL OF TECHNOLOGY AND BUSINESS UNIVERSITY
2011年
1期
54~62
,共null页
公司治理 独立董事 董事会投票行为 实验设计
公司治理 獨立董事 董事會投票行為 實驗設計
공사치리 독립동사 동사회투표행위 실험설계
corporate governance; independent director; voting behavior of board of directors; experiment design
通过建构理论模型,诠释了独立董事具监督动机时,聘用不同比例的独立董事对于董事会投票行为的影响;依据模型推导结果,设计了董事会投票行为的实验。理论与实验结果皆证明,聘任独立董事比例愈高,董事会效率愈佳,公司价值愈高。另外,政府法令的完备与独立董事人力市场的健全发展,将促使独立董事具监督动机,使其利益与股东一致。
通過建構理論模型,詮釋瞭獨立董事具鑑督動機時,聘用不同比例的獨立董事對于董事會投票行為的影響;依據模型推導結果,設計瞭董事會投票行為的實驗。理論與實驗結果皆證明,聘任獨立董事比例愈高,董事會效率愈佳,公司價值愈高。另外,政府法令的完備與獨立董事人力市場的健全髮展,將促使獨立董事具鑑督動機,使其利益與股東一緻。
통과건구이론모형,전석료독립동사구감독동궤시,빙용불동비례적독립동사대우동사회투표행위적영향;의거모형추도결과,설계료동사회투표행위적실험。이론여실험결과개증명,빙임독립동사비례유고,동사회효솔유가,공사개치유고。령외,정부법령적완비여독립동사인력시장적건전발전,장촉사독립동사구감독동궤,사기이익여고동일치。
This paper constructs a theoretic model to explain the effect of independent directors with monitoring incentives in different proportion on the voting behavior of the board members.According to the inductive outcome of the model,the authors design the experiment for the voting behavior of board members.Both theoretic and experimental results verify that the higher the proportion of independent directors is,the higher the efficiency of board of directors and the higher the corporate value.Besides,the perfect government decrees and well-developed labor market of independent directors will motivate the independent directors to monitor and comply their interests with those of shareholders.
