Shareholders Appoint Non-executive Directors,Nominate Independent Directors And The Quality Of Accounting Information

This paper takes the A-share listed companies in Shanghai and Shenzhen,which have non-executive directors and independent directors nominated by shareholders,from 2014 to 2016 as the resear-ch object,and manually collects the information of the non-executive directors and the independent director's"nominator statement" data.The data structure of "Company-Year-Director" was used for analysis and regression.From the perspective of the selection and appointment of non-executive directors and independent directors,the non-executive directors and independent directors were mainly examined by their nominees,under the differences in the role played by the board of directors,the research shows that:(1)Among the non-executive director groups.non-executive directors appointed by other shareholders can effectively suppress the smoothing of management's earnings and improve the quality of accounting information,while The non-executive directors appointed by the block shareholder have no siginificant supervisory role;(2)Among the independent directors,independent directors nominated by block shareholders or independent directors nominated by other shareholders can not significantly monitor the management's behavior;(3)The block shareholder assigning non-executive directors or nominating independent directors to the listed company is mainly based on private receipts motivation,unable to effectively supervise the management,and even reduce the quality of accounting information of listedcompanies;(4)Non-executive directors appointed by other shareholders can effectively play the supervisory role of management and improve the quality of accounting information of listed companies.The independent directors nominated by other shareholders have no significant effect on the management.