The Correlation Of The Independent Directors’ Characteristics And The Fulfillment Degree Of Corporate Social Responsibility

The early20th century, corporate social responsibility (Corporate Social Responsibility) theory appeared in the process of the companies constantly adjusting governance structures to cope with the pressure of the lack of social responsibility. It is not only questioned the traditional corporate roles, new requirements and obligations of the company’s independent directors. Issue of independent directors in the end on behalf of whose interests, academia, there are two different perspectives:One is that the independent directors represents the interests of shareholders, he can protect the interests of shareholders from management against; The other is that The independent directors should be the defenders of the stakeholders, they should to consider the balance between shareholders and the interests of all stakeholders. The above view is the mainstream view of the Anglo-American academia, but I think the introduction of the independent director system should be the combination of China’s actual localization of it in China’s "independent directors out of the whirlpool of a variety of conflicting interests, especially when the interests of minority shareholders in violation of the weak side with the insiders, large shareholders, or even detrimental to the interests of the company, the interests of the community can come forward, speak up, honesty and dedication and to express their views as the spokesman of the independence, impartiality and make a decision, this is the spirit of the independent director system."However, how to improve the independent director system under the vision of corporate social responsibility, so as to promote independent directors to play the facilitating and supervisory role in the company for the fulfillment of its social responsibility, these are the core issues that this article wants to explore.Departuring from the stakeholder theory through the analysis of corporate social responsibility and the interests of stakeholders relations, as well as the relationship between the independent directors and the interests of stakeholders, this article tries to establish a relationship between the equation of the relevant characteristics of the independent directors with the company to fulfill their social responsibilities, combined with sample of listed companies of the correlation between three consecutive years of relevant data to verify the conclusion that the social responsibility perspective, how to improve the independent director system. Follow the article to ask questions, construct a theoretical framework, analysis, logical thinking and technical route recommendations, the establishment of a systematic research framework, the text consists of five chapters.The first part is the introduction, is combing the entire article. Including the purpose and significance of topics, research ideas and methods, this paper main contribution and lack of.The second part is the literature review. Through literature analysis, we can see that the company’s non-shareholder stakeholders and shareholders of the company demands, the company to fulfill its social responsibility is essentially to meet the interests of all parties related to the extent required by the basic requirements of legitimate business enterprises also fulfill their social responsibility.Based on stakeholder theory, companies fulfill their social responsibilities to implement the company’s specific business activities, business strategy depends on the formulation and supervision of independent directors as decision-making-relatively independent and impartial board of representatives, and the Board of Supervisors after supervision compared to more focus on supervision of the directors of the Company and experience in decision making process, the constraints on the company’s management efforts. Therefore, the introduction of independent directors of corporate social responsibility to achieve.The third part is the theoretical analysis. Combing of the theory of corporate social responsibility, stakeholder theory and the independent director system, which the theory of corporate social responsibility, including its concept, meaning, the need for elaborate system of independent directors is a brief analysis of the connotation and characteristics of the independent director, and then established on the basis of the independent directors of enterprises to fulfill their theoretical links between the social responsibility to prepare for the empirical part. By theoretical analysis, corporate social responsibility performance to shareholders, employees, consumers, creditors, suppliers, government, the social responsibility of the community seven; believe that the independent directors on corporate social responsibility to fulfill the role, the improvement of the independent director system to strengthen the implementation of corporate social responsibility.The fourth part is the empirical research. First, listed companies included in the select SSE180Index for the sample of reasons, because of such listed companies with a certain representation, and its regular outside financial reports, and easy to collect information and data. According to the theory of literature, the variable response of corporate social responsibility indicators, including the shareholders’income contribution rate, the creditor obtained the contribution rate, the client obtained the contribution rate, the supplier obtained the contribution rate of employee income contribution rate, the government obtained the contribution rate, community income contribution The rate of the seven indicators, citing Shen Tao (2005), stakeholder weights given to methods of these seven aspects of empowerment; another set of response characteristics of independent directors, independent variable indicators, including the number of independent directors, independent directors share of the proportion of the Board and the independent directors a professor at the background three indicators; final choice of the industry, First, the number of independent directors with the company to fulfill its social responsibility is positively related to; the proportion of independent directors share of the board of directors with the company to fulfill their social positively related to the degree of responsibility; Third, the independent directors professor at the University of the background and the company to perform positively related to the degree of social responsibility.The fifth part is the empirical test and conclusions. This chapter is divided into descriptive statistics, correlation tests, multiple linear regression test three test section, combined with the research hypothesis to conclude. Finally, the law of the Independent Director System in contrast to the United States and other countries, the Independent Director System in China put forward valuable suggestions.Part VI is policy recommendations. Around the conclusions reached by the empirical test, combined with the actual situation of China’s listed companies, listed companies in China through the how to improve to strengthen the independent director system to better monitor corporate social responsibility to perform as well as national laws and regulations, the development of constructive recommendations.