辽宁上市公司董事会报告透明度影响因素研究

以46家辽宁上市公司为样本,对影响董事会报告透明度因素的研究发现:股权集中度、管理层持股比例、董事会规模、独立董事比例与董事会报告透明度呈正相关关系;股权制衡度,董事长与总经理是否两职合一,审计意见类型与董事会报告透明度呈负相关关系。上市公司应该通过股票期权等方式提升管理人员的持股比例,激励他们积极治理公司,提高董事会报告信息披露的透明度;上市公司第二大股东应适度提高持股比例,防止一股独大现象;同时减少董事长与总经理两职合一,也会有助于提高董事会报告的透明度。

Influential Factors for the Transpanrency of Directors＇ Report of Listed Companies in Liaoning

Taking the example of 46 listed companies in Liaoning, the study funds that there is a positive correlation between the trans-parency of director＇ reports and other influential factors such as stock right concentration, level of managerial share ownership, board size, and the ratio of independent directors. The negative correlation occurs between the transparency and other factors such as equity balance degree, the duality of CEO and chairman and audit opinion. Listed companies shall raise the shareholding ratio of administrative staff by means of stock option to inspire them to govern the companies vigorously in a way that helps increase the transparency. The second largest shareholders of listed companies need to raise the shareholding proportion for preventing a single-largest shareholder. Reducing the occurrence of the duality of CEO and chairman will also help improve the transparency.