Supervision of Independent Directors and Top Ezecutive Turnover:Empirical Evidence from Chinas Listed Firms Based on Panel Data

摘要：

Using a sample of Chinese listed firms for the period 2004-2007, we measure the supervision of independent directors with six dimensions. We find that the supervision of independent directors had very significant positive effects on turnover of top executives. We further find that the proportion of independent directors, separation of CEO and Chairman, the number of accounting experts and reputation had important effects on turnover of top executives. The effects of stock holding shares ratio of the biggest boarder were secondary and allowance had relative small influence on it, which refl ected that independent directors did not have enough incentive to supervise.

关键词： independent directors supervision turnover of top ezecutives

作者: QIU Qian

作者单位: School of Management, Shandong University, China 250100

会议类型: 国际会议

会议名称: The 5th International Sympsium for Corporate Governance(第五届公司治理国际研讨会)

会议地点: 天津

会议语种:英文

页码: 1587-1595

在线出版日期: 2009-09-01（万方平台首次上网日期，不代表论文的发表时间）