As most of the listed companies in China are restructured from state-owned enterprises, many defects exist in their corporate governance structure. Independent director system in our country is a new thing and it still need to be further improved both in theory and practice, so the research on it has a profound significance. This paper applies the agency cost theory and stakeholder theory to analyzing the problems of independent director system in China such as unreasonable independent director's selection mechanism, independent director is dependent in the economic interests, the right-toknow of the independent directors is limited and etc. In order to resolve these shortcomings, we need to do the following things: establish a rational mechanism for the remuneration paid to independent directors, establish an incentive mechanism of sound reputation of independent director, and ensure the independent directors acquire sufficient information and so on.
展开▼
