An Empirical Study On The Impact Of Independent Director Characteristics On The Quality Of Accounting Information Disclosure Of Listed Company

In order to ensure the standardization of the listed companies’ operation,strengthen the supervisory function of the board of directors to the management,enhance the independence of the board of directors,and protect the legitimate rights and interests of minority shareholders,China introduced the independent director system at the beginning of this century.The introduction of this system has made the CSRC and investors place their desire on independent directors,that to protect the interests of minority shareholders,but this desire has not been well realized.Since the introduction of independent director system into China,although the quality of accounting information disclosure of Listed Companies in China has improved,it still exists that information disclosure is not objective,untrue,timely or even fraudulent.Therefore,this paper takes principal-agent theory,information asymmetry theory and efficient market theory as the basic theory,combines normative research with empirical research,and studies the impact of independent director characteristics on the quality of accounting information disclosure.This study can provide theoretical support for the improvement of the independent director system in China,and has great significance for improving the quality of accounting information disclosure.Firstly,this paper reviews and summarizes a series of research on the characteristics of independent directors,the quality of accounting information disclosure and the impact of the characteristics of independent directors on the quality of accounting information disclosure by domestic and foreign scholars;then discusses the concepts about the characteristics of independent directors and the quality of accounting information disclosure,and puts forward the theoretical basis of this study;after that this paper selects the A-share company listed on the Shenzhen Stock Exchange from 2013 to 2017 as the research sample,and use empirical research method to analyze the impact of the proportion of independent directors,educational background,remuneration and the number of part-time companies other than the company on the quality of accounting information disclosure.After a series of analysis and tests,this paper argues that the proportion of independent directors in the number of directors,the educational background of independent directors and the remuneration of independent directors have a significant positive impact on the quality of accounting information disclosure of listed companies,but the quantity of part-time jobs have no significant effect on the quality of accounting information disclosure.Finally,based on the research conclusion of this article,some suggestions are proposed to improve the independent director system of Listed Companies in China,in order to improve the quality of accounting information disclosure of Listed Companies in China.