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论文编号：	8320
作者编号：	2120142473
上传时间：	2016/6/7 17:43:42
中文题目：	高校独立董事对民营企业绩效的影响研究
英文题目：	Study on Academic Directors affecting the performance of private enterprises
指导老师：	李莉
中文关键字：	民营企业；高校独立董事；代理成本；企业绩效
英文关键字：	private enterprise；academic director; agency cost; performance
中文摘要：	独立董事引入我国以来，已成为董事会成员必不可少的存在。《关于进一步规范党政领导干部在企业兼职（任职）问题的意见》对高官成为公司独立董事进行了限制，高校教师成为独立董事热门人选。与其他背景的独立董事相比，高校独立董事具有较高的学术水平，能够促进企业学习吸收；他们也具有较高的声望和社会地位，与内部管理者打交道比较少，能够独立思考，起到很好的监督作用；比起监督作用，高校独立董事会花费更多的时间和精力去提建议，他们与企业管理者所处的环境不同，能够从不同角度分析问题，观点多样性对董事会效率和企业绩效均会产生影响；高校独立董事作为专家学者，在社会上有一定的人脉，能够为企业提供一些所拥有的资源。民营企业治理机制不够完善，存在一定的代理问题，独立董事的引入，能够起到很好的监督建议作用。基于以上背景，本文拟对高校独立董事对企业绩效的影响进行研究，将从高校独立董事的专业来分析，另外，关于高校独立董事如何影响企业绩效的呢？本文将从代理成本和资源两条路径来分析阐释。在回顾了代理理论、资源基础理论、独立董事及企业绩效的相关文献基础上，本文选择2009-2014年中小企业板上市民营企业作为基本数据，通过筛选民营企业上市公司年报，从中搜集独立董事的相关信息。用是否具有高校独立董事做解释变量，用高校独立董事人数进行稳健性检验，通过实证分析对相关假设进行验证。 研究结果表明，高校独立董事对民营企业绩效有显著作用。具有这一背景独立董事的民营企业绩效较好，且随着这一背景独立董事人数的上升，相应的民营企业的绩效也在提高。高校独立董事不同的专业特征也会对民营企业绩效产生影响，其中，经济管理、法律、医学等专业特征的高校独立董事对民营企业绩效有显著的促进作用。男性高校独立董事更促进民营企业绩效。高校独立董事对民营企业绩效的影响可以通过代理成本和资源两条路径均可以实现，民营企业代理成本在其中起到了中介的作用。研究结果能够为民营企业在聘请独立董事过程中提供参考和借鉴，对后来的研究具有一定的指导作用。
英文摘要：	With the independent director system introduced into our country, it has become necessary for the board of directors, Companies also hope that through the independent directors can play the role of supervision and advice. "About further standardize party and government leading cadres (office) of part-time work in a enterprise's opinions on issues” rules and restricts independent director of official, Teachers in colleges and universities are the hot choices for independent directors. Compared with other background of independent directors, independent directors have high academic level, are specialists in the field of business, law, medicine and so on, due to the knowledge spillover effect, they can promote enterprise study absorption, and keep the enterprise competitive advantage; In addition, they also have high prestige and status in society and they do not communicate with internal managers very much, so they can independently think with good supervision effect; Compared with supervision function, academic directors spend more time and energy to advice, because they are different from enterprise management environment, they can analyze problems from different angles, diversity of views will affect the efficiency and corporate performance of the board; Academic directors as the experts or scholars, with a certain social connections, can provide some valuable resources for enterprises, so as to improve corporate performance. Private enterprise governance mechanism is not perfect, there is a problem of agency, the introduction of independent director, can have very good supervision and advice. Based on the above background, this paper probes into the academic directors to explore the performance impact of private enterprises, It will be from the professional characteristics of academic directors to analyze. In addition, about the academic directors how to affect enterprise performance? this paper analyze from the agent costs and resources two paths. In agency theory, resource-based view are reviewed, the independent director system and corporate performance based on the related literature, this paper choose the data of private enterprises in five years, 2009-2014, through the tide of information network to obtain private enterprises annual reports of listed companies, it collects information about the independent director. whether with have background of academic directors explanation variables, and using the number of academic directors robustness test, through empirical analysis to validate assumptions. The results show that with the academic directors its performance is significantly higher than private enterprises do not have academic directors of private enterprises; The number of academic directors, private enterprises performance was significantly positively related; Academic directors of different professional characteristics will also affect private enterprise performance, Among them, business, law, medicine and other professional characteristics of the academic directors have a significant role in promoting private corporate performance. A background in medical academic director has the best promoting on private corporate performance, A background in law academic director has the more promoting on private corporate performance than the background of business academic directors, Male academic directors can promote private corporate performance. The academic directors can impact on the performance of private enterprises through the agency cost and resources, and agency costs play a complete mediation role. the research for private enterprises in the process of employ independent directors provides valuable reference and has a certain guiding role to the later research.
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