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An Empirical Study on the Effect of Independent Directors on Firm Performance from the View of Regulation Environment

In: The 19th International Conference on Industrial Engineering and Engineering Management

Author

Listed:
  • Shan-hui Wang

    (Huazhong University of Science and Technology)

  • Qi-shen Zhou

    (Huazhong University of Science and Technology)

Abstract

This paper analyses the effect of legislation environment on the relation between independent director and firm performance in China, and provides the Chinese market evidence for the international company governance study. We mainly focus on the effect of The Guidance of establishing independent director system in listed company on the relation between independent director and firm performance. Using the Mixed cross-sectional data of listed companies in Shanghai and Shenzhen Stock Exchange from 1998 to 2005, we found a significant improvement of the proportion of independent director after publishing the guidance. The results conclude that the proportion of independent director is significantly negative related to the firm performance, however, the legislation did not seem to enhance or weaken the negative relationship between independent director and firm performance.

Suggested Citation

  • Shan-hui Wang & Qi-shen Zhou, 2013. "An Empirical Study on the Effect of Independent Directors on Firm Performance from the View of Regulation Environment," Springer Books, in: Ershi Qi & Jiang Shen & Runliang Dou (ed.), The 19th International Conference on Industrial Engineering and Engineering Management, edition 127, chapter 0, pages 825-835, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-38433-2_88
    DOI: 10.1007/978-3-642-38433-2_88
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    Cited by:

    1. Changzheng Zhang & Jiao Zhang & Qian Guo, 2018. "Can Political Connections Of Independent Directors Improve Firm Perfomance? Evidence Of Chinese Listed Manufacturing Companies Over 2008 - 2013," Malaysian E Commerce Journal (MECJ), Zibeline International Publishing, vol. 2(2), pages 5-12, January.

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