China And South Korea The Independent Directors Of Listed Companies And Business Performance

In order to regulate Chinese securities market, ensure the interests of the medium and small stockholders, further improve the governance structure of listed companies, standardize their operation, China Securities Regulatory Commission (CSRC) formulates the Guidelines for Introducing Independent Directors to the Board of Directors in listed Companies. It indicates China induct Independent Director System formally.Independent Director System is a newborn in China, the research of Independent Director System in China is not sufficient, so we should learn foreign advanced theories and practice experience in implementing and perfecting Independent Director System. China and Korea border on, and have similar culture; there maybe have some common ground in their corporate governance. And that Korea had implemented Independent Director System in the end of 90's. So we can learn lots of advanced theories and practice experience from Korea.In this paper, we compare the function of listed companies'Independent Director System with corporate performance of China and Korea, find their difference, and discuss Korean practice experience, in order that implement Independent Director System effectively, further improve the governance structure of listed companies and enhance cooperate performance. First, we compare the basic characters of independent directors, such as the number of independent directors, the ratio of independent directors in director board, independent directors'salaries, and so on. Then, we choose 100 companies from Chinese family listed companies and Korean listed companies each, and make positive research.This paper has five chapters.Chapter 1: Introduction. It includes the background, intention, significance, method of this research and so on.Chapter 2: It introduces some theories of Independent Director System and corporate performance. It includes the function of Independent Director, the relation between Independent Director and corporate performance, Independent Director System of China and Korea, and so on.Chapter3: In this chapter, there are some basic thing of listed companies'...