An Empirical Study Of The Independent Director Allowance Affecting Factors Based On The Industry And Regional Perspective

Although our country introduced the independent director system intwentieth Century90’s，but because the government has not yet introducedspecific independent director allowance management rules，it leads to theproblems of disorder unsystematic，incentive and constraint effect is notobvious，and it has caused wide attention．The existing literature about theindependent director allowance influences, ignored considering thecomparability and industry， regional gap factors such as the number ofsamples， the conclusions of empirical analysis of the pertinence is notstrong．Therefore，in-depth analysis of the impact factors of independentdirectors allowance under the influence of industry and region，can perfectand improve our listing Corporation independent directors allowancemanagement system， and it has important theoretical and practicalsignificance to establish fair and reasonable independent directors allowancesystem．Based on the detailed analysis and drawing on previous research results，we take2119Chinese listing Corporation in2011as an example，makes theempirical research on the listing Corporation sample data in different industryand different region respectively，and compared the different industries anddifferent regions of the independent directors allowance for the influencefacts orreached the following conclusions：(1)Independent directors allowanceaffecting factors has a big difference between different industries.(2)Thedifference of the independent director allowance affecting factors between theareas is large． Among them， Tobin’s Q value， the company scale， theproportion of tradable shares is the common affecting factors of the East,middle and west regions．Proportion of independent directors is also an factorfor middle and western regions．In addition，first shareholder，the number ofindependent directors and the proportion of independent directors impact thewestern region．(3)For different industries and regions，the influence strength and director of the common factors is different．For the above conclusions, this paper believes that the construction ofindependent director allowance system in China should pay more attention tothe trade and regional factors, and specific measures are mainly related to:optimize independent director allowance reference．To carry out performanceappraisal, promotion independent director allowance management science;strengthening the independent director allowance external supervision. In aword, the purpose of this study is to optimize the existing listing Corporationindependent directors allowance system, provides the theory reference and thebasis for the establishment of industry and the regional characteristics of theindependent directors allowance system.