独立董事与公司治理绩效的灰色关联分析

公司治理水平是公司绩效的关键驱动因素，而独立董事对于完善公司治理并提升治理水平具有重要作用。本文以上市公司为样本，通过建立灰色关联分析（GRA）模型对独立董事参与公司治理的诸因素与公司绩效间的内在关系进行了实证研究。研究表明，在独立董事参与公司治理的四个影响因素中，影响公司绩效最重要的因素是独立董事的报酬，最弱是独立董事的职业背景。这为监管机构改进对独立董事认知的规定和构建科学有效的独立董事治理机制提供实证依据。

Grey Relative Analysis on Independent Director and Performance of Corporate Governance

Corporate governance level is the key factor influencing the performance of company.Independent directors play important roles to perfect corporate governance.Taking samples from Chinese listed companies,the article studies the correlative relationship between independent director and the performance of company by GRA model with empirical research method.It derives the conclusion that independent director' s pay is most important among the four factors of independent director,while the independent director' s professional background is weakest.This will help monitoring dept further understand independent director and establish effective independent director system.