Research On The Perfection Of Independent Director System In China

Since the introduction of the independent director system in China,people have doubted the role of the independent director because of the inaction and dereliction of duty of the independent director."Vases of independent directors","independent directors are not independent","independent directors are not sensible"have become the evaluation of independent directors,the system of independent directors has been widely criticized for failing to achieve the expected goals.Recently,the bombardment of Baoneng by Liu Shuwei,who Vanke's independent director,has pushed the independent director system to the forefront.A letter to the chairman of the Securities Regulatory Commission(SFC)and the article"The Color Revolution of Baoneng"published have sparked a contentious public debate.People have different opinions on how the independent director should perform his duties.Recalling that the management and the major shareholder"Huarun"have confronted the Shenzhen Metro restructuring resolution in the battle between"Wanke"and"Baoneng",in the process,Vanke's former independent director played an extremely important role for the first time.Zhang Liping's"evasive vote"and Hua sheng's support for the Shenzhen Railway restructuring and his constant voices played an important role in the direction of the event.However,it also received the voice of doubt from people from all walks of life,causing people to rethink the independent director.The research content of this paper includes five parts.The first part introduces the topic selection background,research significance and main innovation points of the paper,and then summarizes and analyzes the relevant domestic and foreign literature to clarify the emergence and development process of independent directors.The second part briefly analyzes the theoretical basis and the emergence and development of the independent director system in China,it believes that the functional orientation,cultural factors and institutional design restrict the development of the independent director system from different angles in different ways,so as to make an in-depth analysis of the performance of the independent director according to the basic national conditions and environment of China.The third part takes the relevant issues of the hot-selling independent directors appearing on the board of directors of Vanke as the starting point,with three independent directors zhang liping,Huasheng,Liu Shuwei's words and deeds as the breakthrough point to carry out specific analysis and study of their performance status,and discusses the in-depth and universal problems of vanke's independent director and the independent director system from their behavior,which is of great help to explore the duties and performance boundaries of independent directors in China.The fourth part analyzes the problems of vanke's independent director system caused by the three independent directors'behaviors,which have great implications for the improvement of China's independent director system,and puts forward reasonable Suggestions for the improvement of China's independent director system.The fifth part summarizes the whole paper and prospects the future research.