当代经济管理2018，Vol.40Issue(5)：26-31,6.DOI:10.13253/j.cnki.ddjjgl.2018.05.004
法律背景独立董事与中小投资者权益保护
The Independent Directors with Legal Background and Minority Investor Protection
唐建新 1程晓彤1
作者信息
- 1. 武汉大学 经济与管理学院,湖北 武汉430072
- 折叠
摘要
Abstract
Using the sample of listed companies from 2002 to 2014, this paper examines the relationship between independent directors with legal background and minority investor protection. At the same time, with the implementation of new " Company Law" and " Securities Law" on January 1, 2006, the relationship of them in the low litigation risk period and the high litigation risk is compared. This paper finds that, in the full sample, investors are better protected when more listed companies employ independent directors with legal background. With the change of legal environment, the correlation between the independent directors with legal background and the degree of investor protection in the period of high litigation risk is significantly lower than the low litigation risk period. The possible reason is that the provisions of the new law on investor protection have been refined and strengthened, thus reduce the possibility of listed companies' infringement on the interests of small and medium-sized investors. From the perspective of the background of the independent directors, this paper validates the function of independent director system in protecting the small and medium-sized investors.关键词
公司治理/法律背景独立董事/中小投资者保护Key words
corporate governance/independent directors with legal background/small and medium-sized investor protection分类
管理科学引用本文复制引用
唐建新,程晓彤..法律背景独立董事与中小投资者权益保护[J].当代经济管理,2018,40(5):26-31,6.
