An Empirical Study On The Relationship Between Characteristics Of Academic Independent Directors And Information Disclosure Quality Of Listed Companies

Since the introduction of independent director system in 2001, listed companies information disclosure quality has not improved as expected, information disclosure irregularities still emerge endlessly, this questioned our country’s independent director system seriously. China’s capital market is not perfect, lacking professional directors, so listed companies preferred scholars, experts from universities and scientific research institutes of academic institutions, independent directors of this type is called academic independent directors. As research points, the proportion of academic independent directors representing the total number of independent director in our country is 48.49%, far more than other types.Therefore, it is very important to study the relationship between characteristics of academic independent directors and information disclosure quality of listed companies.In order to study the influence of characteristics of academic independent directors to listed companies information disclosure quality, improving the governance structure of listed companies, improving the quality of information disclosure of listed companies, this article uses 2013 in Shenzhen Stock Exchange main board A shares listed companies as the research samples, using empirical research methods, from the perspective of company system characteristics, individual characteristics and behavior characteristics, analyzing the impact of proportion of academic independent directors, salary, professional background, age, gender,part-time work, attending meeting on the information disclosure quality of listed companies.The empirical results show that, the proportion of academic independent directors,accounting background have significant positive impact on the information disclosure quality of listed companies; the academic independent directors salary,age, male proportion, part-time have significant negative impact on the quality of information disclosure of listed companies;Attending meeting rate of academic independent directors has no significant on the quality of information disclosure of listed companies. According to the research conclusion, put forward the improvement suggestions, improve the independent director system, improve the quality of information disclosure of listed companies.