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论文编号：	4455
作者编号：	2120102277
上传时间：	2012/6/9 21:24:17
中文题目：	中国在美上市公司独立董事资本与竞争优势关系研究
英文题目：	Research on the relationship between the capital of independent directors and competitive advantage of Chinese companies listed in the United States
指导老师：	周建
中文关键字：	跨境上市;独立董事资本;资源基础观;竞争优势
英文关键字：	cross-listing;the capital of independent directors;resource based view; competitive advantage
中文摘要：	近年来中国企业境外上市的数量不断增加，但是近期一系列风波使得中国概念股遭受了前所未有的信任危机，并由此引发了国内外学者对中国境外上市公司治理问题的关注和探讨。然而当前国内对境外上市的理论研究还比较少，尚无法消除对中国境外上市公司治理问题的质疑，尤其是对作为公司治理重要指标的独立董事的质疑，人们不禁发问：中国境外上市公司独立董事如何发挥其应有的监督作用？中国境外上市公司独立董事资本如何提升企业竞争优势？为了回答这些问题，本文回顾了跨境上市、董事会资本、独立董事与竞争优势等理论，重新界定了独立董事资本的概念，在前人研究的基础之上，针对独立董事的独立性首次构建了相对完善的跨境上市公司独立董事资本测量指标体系，并较早尝试运用VRIO模型分析了独立董事资本与企业竞争优势之间的关系；通过对前人研究的梳理和总结，本文提出了检验跨境上市公司独立董事资本与企业竞争优势之间关系的研究假设，并以2007年之前在纽交所上市的中国公司为样本详细地描述了中国境外上市公司的独立董事资本状况，实证检验了独立董事资本与企业竞争优势的关系，并根据研究结果向相关各方提出启示，同时对进一步研究进行了展望。在跨境上市公司独立董事资本测量指标体系和独立董事与企业竞争优势之间关系VRIO分析的基础上，本文实证结果表明：产业相关的人力资本、内部社会资本和产业内社会资本与企业竞争优势之间存在显著关系；同时研究发现独立董事的一般人力资本、企业相关人力资本和产业间社会资本对企业竞争优势的作用并不显著。本文创新之处主要有：首次构建了相对完善的跨境上市公司独立董事资本测量指标体系，较早尝试运用VRIO模型分析了独立董事与企业竞争优势之间的关系，运用中国境外上市公司最新数据实证检验了独立董事资本与企业竞争优势的关系。
英文摘要：	In recent years, the number of Chinese cross-listed companies is increasing. But the recent series of storms make Chinese concept stocks suffering an unprecedented crisis of confidence, which makes domestic and foreign scholars concern Chinese cross-listed companies’ governance issues . However, the current domestic theory of cross-listing is still relatively few, and cannot answer the question of Chinese cross-listed companies’ governance issues, especially the question of the independent directors as an important indicator of corporate governance. People cannot help asking: How independent directors in Chinese cross-listed companies really play their supervision role? How the capital of independent directors in Chinese cross-listed companies improves its competitive advantage？ To answer the questions, the paper first reviews the theories on cross-listing，capital of the board, independent directors and competitive advantage, redefines the concept of capital of independent directors, builds a perfect measurement index system of the capital of independent directors for the independence of independent directors for the first time on the basis of previous studies, and earlier analyzes the relationship between independent directors and competitive advantage by using VRIO model; by collating and summarizing the previous studies, we put forward hypothesis on the capital of independent directors and competitive advantage，Describe in detail the capital of independent directors in Chinese cross-listed companies by a sample of Chinese companies listed on the NYSE before 2007，and test the relationship between capital of the independent director and competitive advantage. Based on the findings, we put forward inspiration to the relevant departments, while the prospect for further research. Based on measurement index system of the capital of independent directors in Chinese cross-listed companies and analysis between the independent directors and competitive advantage by VRIO model, empirical results show that: There is a significant relationship between industry-specific human capital, internal social capital, Intra-industry social capital and competitive advantage but not between generic human capital, Firm-specific human capital, extra- industry social capital and competitive advantage. The innovation in this paper is that: build measurement index system of the capital of independent directors for the first time, earlier analyze the relationship between the capital of independent directors and competitive advantage by VRIO model, and test the relationship between the capital of independent directors and competitive advantage by using the latest data of the Chinese cross-listing companies.
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