Alternative Perspectives on Independence of Directors

摘要

This paper examines the issue of independence of boards of directors and non-executive directors of companies listed on the Irish Stock Exchange. Based on information published in annual reports, the study found that most Irish listed companies were complying with the Combined Code's recommendations for a balanced board structure, albeit with only 60 per cent having majority-independent boards. The study found a lack of consistency in interpreting the definition of "independence", a lack of disclosure of information and, by applying criteria generally regarded as prerequisite to independence of non-executive directors, certain situations which imposed upon their independence.