Study On The Relationship Between Social Capitals Of Independent Directors And Enterprise Performance

Independent director system is a product of the US dollar of corporate governance structure, to solve the separation of management right and ownership of the enterprise and the agency problem, to enrich independent director system research,break through the conventional research direction, this paper in the perspective of social capital of independent directors, independent research director of social capital and company performance correlation. Hypothesis on the relationship between independent director of social capital in four dimensions and company performance of social capital in a detailed analysis of the independent directors of the longitudinal and horizontal network, the independent directors of the cognitive dimension and the reputation of the four dimensions of corporate performance impact, are put forward.How to choose the rate of return on net assets(ROE) as financial indicators, Tobin Q value as the market index, company from two aspects of a more comprehensive and objective performance, select the 2010-2013 in the Shenzhen A shares of listing Corporation as the research object, considering the final 401 listing Corporation, a total of 1604 sample data as samples, carries on the empirical analysis. Finally the independent directors of independent directors transverse vertical network,relationship network, the qualifications of independent directors, independent directors of the economics and management background is positively correlated with corporate performance; the proportion of independent directors, independent directors of other specialties background and corporate performance are negatively correlated and not independent directors of the company’s reputation and performance.