会议专题

Empirical Study of the Impact of Supervisor Board Characteristics to Executive Changes in Listed Companies

By 1368 sub-samples of general manager changes in 444 Chinese listed companies from 1998 to 2008, this paper used panel LOGIT model to empirically inquiry the impact of corporate Supervisor Board to the mechanism of executive changes and found that supervisor board played an important role in executives changes of listed companies. The stock holding of Supervisor Board had significantly positive correlation with the executive changes; there was a significant negative correlation between the size of Supervisor Board and the executive changes. This paper argues that companies need to rationalize the size of the supervisor board, smallscale Supervisor Board is more efficient in the decision of executive changes; members of the supervisor board in listed companies should be encouraged to hold the Company shares; listed companies in equity-based incentives for executives should not simply consider the incentive effects, should also be fully taken into account for the infirmness of the executives changes mechanism. This papers contribution is to effectively extend the range of the related research of internal control mechanism in listed companies.

executive changes supervisor board size supervisor board ownership post separation

HAO Yunhong REN Guoliang

School of business administration Zhejiang Gongshang University Hangzhou,310018 School of Statistics and Mathematics Zhejiang Gongshang University Hangzhou,310018

国际会议

2010 Second International Conference on Intelligent Human-Machine Systems and Cybernetics(第二届智能人机系统与控制论国际学术会议 IHMSC 2010)

南京

英文

38-40

2010-08-26(万方平台首次上网日期,不代表论文的发表时间)