The Effect Of Prohibiting Officials Of The Independent Director

On October 19,2013,the CPC central committee organization department on file "about further standard officials of part-time work in a enterprise"(NO.18).After policy,official independent directors have resigned,cause the extensive concern of the society from all walks of life.This article is based on the event for inspiration,selected from 2012 to 2014,Shanghai and Shenzhen stock exchange private listed companies as research samples.Through the empirical analysis,to verify that the policy implementation effect.In this paper,through the five parties to learn.On the basis of literature analysis,based on the resource dependence theory and the theory analysis of private enterprises to obtain government relations.In this paper,three sets of model for empirical research found.Before policy,private board of directors of the listed company official identity on the corporate performance is positive correlation,and mainly reflected in the provincial level.But after policy,officials have the significant influence of independent directors on corporate performance have been weakened,not significant.Verify the policy implementation has actual effect.By the year 2014,there are still a large number of officials act as independent directors.Although the policy implementation effect,but still requires listed companies to carry out.From the innovation of this article research perspective,in the early stage of the policy should focus on the provincial level,in order to get maximum utility of policy implementation.From a long-term point of view,the policy implementation not only shows that our party serious discipline,determination of anti-corruption and building a clean government.Listed companies can't hire officials and independent director candidate targets will be focused on the real independence,fairness and professional talents.It helps from play a role of independent directors on real significance,enhance their operation efficiency and decision science,guarantee the independent director supervision function.And to implement the government decentralization policy,which reduce improper connection between business,activating market economy competition efficiency.