Research On The Governance Of The Independent Director Of The Fund Management Company

In recent years,the rapid development of China's fund management companies,securities investment funds have become one of the major investors in investment,but in the face of the rapid development of China's fund management companies there are also a lot of imperfections,in the long run,these If you are not a good solution to the problem,it will stop the continued development of China's fund industry.These problems are mainly manifested in the unreasonable fund management companies and independent director system of corporate governance,in which large shareholders due to the dominance of the Board,the Board of Directors interfere too much in the company's daily operations,the irrational structure of the independent directors,the fund insider trading and frequent.The main cause of this problem is a conflict of interest between the fund management company,as well as legislative,regulatory,there are still flaws.The starting point of this study is from our fund management company overview and existing problems,points out China's fund management companies in corporate governance,market environment,internal controls and other problems and in particular pointed out the fund management company in the independent directors operating mechanism and incentive and restraint The main problems of these two mechanisms,and to the main line of the two mechanisms,analysis of the symptoms of the problem,investigate how to optimize these two mechanisms.Comprehensive evaluation method structural analysis and fuzzy this paper theoretical analysis and empirical analysis of the way,the focus of the use of management,for the status of the Fund Management Company,and panel data focus on empirical analysis of the independent directors average annual salary and company performance was not significant relations,reveals the shortcomings of the current incentive mechanism of independent directors.In this paper,the independent director system was effective learning and research,and put forward the independent directors of fund management company based on the idea of optimizing the effectiveness of independent directors operating mechanism perspective and incentive and restraint mechanisms.