Research On The Influence Of The Characteristics Of Independent Directors On Corporate Performance Of Listed Companies

The independent director system originated in the United States in 1940 and was formally introduced to China in 2001 after more than 60 years of improvement.Up to now,the independent director system has appeared for a long time,and its positive effect on the corporate governance structure is obvious to all.There are also numerous studies on independent director system in the academic circle,but most scholars study the impact of independent director system on companies,or take all listed companies as samples to study the correlation between independent director characteristics and performance.There are even fewer studies on the impact of the characteristics of independent directors on listed media companies in China,and most of the data used by scholars are outdated,which cannot reflect the long-term changes in the relationship between them.Therefore,this paper will focus on the impact of the characteristics of independent directors on the performance of listed media companies in China,and select relatively new and time-sensitive data from 2015 to 2017.This article first introduced the selected topic background and significance,research content and method,innovation and deficiencies,then the study of predecessors,and elaborates the theory and analysis,for the subsequent analysis of this article,and then the characteristics of independent directors and corporate performance and the characteristics of independent directors and corporate performance concrete shows the relationship between theory,based on this,again is explained in this paper,source of the sample company,the principle of variable selection and data selection and source,is down in front of the descriptive analysis of data,in order to make the research more stringent,also do the multicollinearity analysis,under the premise to do empirical analysis.At last,according to the conclusion of empirical analysis,the author gives some Suggestions that can help independent directors play their role and improve corporate performance.The conclusion of this paper is that there is an insignificant negative correlation between the proportion characteristics of independent directors and corporate performance,and there is a significant positive correlation between age characteristics,salary characteristics,government background characteristics and the proportion characteristics of women and corporate performance.Therefore,in order to improve corporate performance,the age and salary of independent directors should be increased within a reasonable range,and more independent directors with governmentbackground should be hired,and a certain proportion of women should be maintained.It is expected that this paper can provide some theoretical basis for future studies of scholars and truly help media enterprises to select independent directors with real talents and practical work.