Research On The Influence Of The Resumption Of Independent Directors Of Listed Companies On The Financial Risk

With the rapid development of market economy,to improve the corporate governance problems that exist in the listed companies in the business,our country has introduced the independent director system,so as to improve the corporate governance structure and protect the interests of minority shareholders.However,the independent director system,which has been developing in China for many years,not only failed to achieve the expected effect,but also was criticized by the market.Independent directors are often unable to express their independent opinions because of their lack of voice,and gradually become marginalized,even under the title of"vase director".In 2014," Guidelines on the resumption of independent directors of listed companies " has been issued,it is important to improve the situation and to regulate the resumption of independent directors,and the release of that document has led to a hot issue with the resumption of independent directors.Based on reviewing the research status at home and abroad,on the basis of related theory analysis of the independent director since the situation of financial risk,by influencing the scientific financial decision making,big shareholders'embezzlement and accounting information quality.Then the theoretical analysis is applied to the analysis of the case,and the reasons for the different financial risks are analyzed through the evaluation of the resumption of the independent director of Tianmu Pharma and Wolwu Pharma.Through the research and analysis of relevant data and information of the case companies from 2014 to 2016,it is concluded that the companies of different resumption of independent directors have different financial risks,and targeted analysis of the case companies independent director since the situation of the influence of financial risk.In order to promote the resumption of independent directors and make the independent directors play a role in controlling the financial risk,the recommendations are as follows:to improve the resumption environment of independent directors in listed companies,set up independent directors rights commission;strengthen external reputation mechanism,innovation incentive and restraint system;use of third-party optional procedures.