A Preliminary Study On Board Committee System

Board of directors 's role is important and necessary in the corporate governance structure. Board of directors plays a major role in management-level decision-making and oversight role. But as an meeting agency there are many defects in Board of directors. Board committee system can make up for the defects of Board of directors. Audit Committee, the nomination committee and compensation committee are typical of Board committee, which play important roles in practice. Setting up Board Committee to enhance Board of directors 's functions and improve the corporate governance structure has become a common practice in Western countries. However, there are some difference between legislative models in these countries. This paper is based on establishing Board committee system in our country as a target, according to legislation of other countries about Board committee. This paper's research methodology is the use of theoretical analysis, comparative study, empirical research and system research method.In addition to introduction, This paper consists of four parts.The first part elaborates the basic issues about Board committee. Firstly, gives some introduction about the concept, feature of Board committee. Secondly, gives the types of Board committee, Finally, gives the historical development of board Committee.The second part is value analysis about Board Committee system. Board committee system improves the corporate governance structure theory, enhances Board of directors 's functions ,and causes listed companies to provide the true information.The third part brings out analysis about legislation of Board Committee system of the United States , Japan, the United Kingdom and other countries, and on the basis of the analysis carries out in five areas, a certain amount of legislation drawn inspiration. Board committee system has practical significance in improving the corporate governance structure theory; Board committee system represents new trends of the corporate governance structure in the world. Board committee system is a major breakthrough in our country to improve our corporate governance mechanisms legislative enlightenment. Legislation of other countries about Board committee also provides the legislative and institutional experience for the building of board committee system in our country.The forth part brings out analysis about the prospect of Board committee system in our country, as well as basic legislative conception. Based on the analysis, the author thinks that the complete and perfect about the system of independent directors is crucial to improve Board committee system; Our ideology and traditional concepts to completely accept the Board committee system still need some time; Board committee system in our country has broad prospects for development. Finally, drawing on the experience of other countries and areas and considering the reality of our country, the author puts forward suggestion and legislative conception.