Research On The Effect Of The Independence Of The Board Of Supervisiors On The Performance Of Their Duties In The Mixed Ownership Enterprises

The governance transformation of board of supervisors is one of the important contents of the reform and innovation of corporate governance mechanism.As an important part of the corporate governance structure,the board of supervisors is not only a special institution for shareholders to exercise the right of supervision,but also paly an important role in the construction of modern enterprise system.The effective performance of the board of supervisors is an important guarantee to ensure the legal and compliant operation of the company and improve the efficiency of corporate governance.However,at present,there are still many problems in the actual operation of the board of supervisors in China,especially the lack of independence.In recent years,the research on the supervision mechanism of corporate governance is more focused on the independent director system,and the empirical research on the governance of the board of supervisors is relatively scarce.Based on this,this paper mainly studies the effect of the independence of the board of supervisors on its performance,and takes the equity mixing degree as the adjusting variable.Based on the reform of mixed ownership in the new era,this paper studies the relationship between the independence of the board of supervisors and its performance.First of all,it summarizes the related research results of the governance of the board of supervisors and the degree of equity mixing.Combined with the existing research and field research interviews,three dimensions of the independence of the board of supervisors are extracted through grounded theory:"the independence of supervisors' selection and appointment","the independence of power allocation" and"the independence of supervision work" as the connotation elements of the independence of the board of supervisors.Combined with the reform of mixed ownership system,the paper takes the mixed degree of equity as a regulating variable,and futher explores the mechanism of the relationship between the independence of the board of supervisors and its performance effect.In this paper,five main hypotheses and 15 sub hypotheses are put forward,and a total of 20 research hypotheses are proposed.Through field interview and online distribution,463 valid questionnaires were collected;through multiple regression analysis and structural equation model analysis,the relationship between the independence of the board of supervisors,the mixed degree of equity and the performance effect of the board of supervisors was verified.The empirical results show that:the independence of the board of supervisors has a significant positive impact on its performance;the three dimensions of the independence of the board of supervisors have a significant positive impact on the three dimensions of the performance of the board of supervisors;the impact of equity mixing on the independence and performance of the board of supervisors has a significant regulatory role.The conclusion of this paper improves and develops the theory of corporate governance supervision to a certain extent.At the same time,it provides some theoretical support for the mixed ownership enterprises to improve the internal supervision and balance mechanism and effectively implement the board of supervisors system.It is helpful for the mixed ownership enterprises to reshape the supervision mode of governance on the basis of the existing governance structure and governance mechanism,promote the board of supervisors to play an active role in the process of enterprise supervision and transformation,and achieve effective governance.