| During the course of promoting market economy, China's companies (especially public companies ) exist severe problems. For example, The public companies are controlled by internal people which cause the cost increase, The false information of the public companies caused credit crisis ,the commission of supervision can't play the proper roles, the value of stock distort, the capital market can't adjust resource effectively. The influence caused by these problems depresses the investors'confidence and prevents the economy from developing, It's trend to improve the companies'governance. The guide of public company 'constitution which published in 1997 by China's stock supervise committee prescribed that the public companies should enlist independent directors if they need. In March 1999,Committee of China's economy and trade and committee of stock supervision jointly issued the suggestion about establishing system of independent directors, demanding carry out the system in public companies which open in foreign countries. In August 2001, China's committee of stock supervision issued the guiding propose to carry out the system of independent directors. After then, The system has been focused by Chinese. Why did the system originate and develop. What's the role of the system to consummate the governance of company, what's the factors to restrict the roles of this system, why did China import the system. How can we overcome the restrictive factors. This paper analyzed the issues by using the incentive theory, humanity theory and behavior theory of management, management psychics , theory of behavior and so on. Then draw the conclusion, I hope the paper can offer to relevent reference in order to improve the governance of china's public... |
