A Comparative Study Of The Supervisory System Between China And South Korea

In recent years,revealed that a growing number of financial fraud of listed companies,has brought the securities market credit crisis? Investigate its reason,the board of supervisors blameworthy.The board of supervisors system of our country presentsa tendency of an almostfailure,imperfect legislation,defective in selection mechanism and incentive mechanism,lack of independence of the board of supervisors in practice,intensified conflict caused by overlapping functions between the board of supervisors and independent director,the low quality of their own members of the board of supervisors and so on,these have become the core elementswhich lead to the board of supervisors cannot play its role.Korea has formed the situation of coexistence of unitary system and dual system in exploration.In addition to the special provisions of the state,the company can choose freely in the board of supervisors and the supervisory committee according to the actual situation,it is worthy of reference for our country to solvethe problems caused by the coexistence of the board of supervisors and independent directors.To improve the effectiveness of the supervision work of the board of supervisors,enrich the functions and powers of the board of supervisors is particularly important.Korea gives the board of supervisors the right of investigation of the subsidiary company,the right to request board meeting and litigious right of a variety of independent lawsuit claim,which has positive effectto ensure supervisors status,and fully exert supervision function.In addition,the restrictionsof large shareholders on the right to vote in the selection of supervisors,as well as the relevant provisions of the members of responsibility and punishment mechanism,existsablankin the supervisory system in our country,all these aspects are worth learning from Korea.Making the professional background of supervisors clearly,improving their own quality,and to give the supervisors personal decision-making right in special circumstances on the basis of without changing collective responsibility of the board of supervisors,is conducive to the deepening of China's supervisory system and flexibility.