财务独立董事与公司经营绩效的关系——基于中国A股上市公司的经验证据

系统回顾国外关于财务专家与公司经营绩效之间关系的研究成果,以中国上市公司2004~2006年的经验数据为样本,在对财务独立董事分类打分的基础上,实证分析了不同类型的财务独立董事与公司经营绩效之间的关系。结果表明:有较高财务独立董事水平的公司有较好的公司经营绩效,会计专家型财务独立董事和金融型财务独立董事能够显著地促进公司经营绩效,而会计实务型财务独立董事和监管型财务独立董事与公司经营绩效并无相关性。

Relationships between Financial Experts and Corporate Performance -Empirical Evidence from Financial Independent Directors in China

The paper reviews the researches on the relationships between financial experts and corporate performance of foreign countries,and takes the data of Chinese listed companies from 2004 to 2006 as specimen.Empirical analysis is made on the relationships between different types of financial independent directors and corporate performance based on the classification and marking of the directors.Results show: companies with good financial independent directors perform better;two types of financial independent directors who are accounting experts and financial experts can significantly promote corporate performance,while financial independent directors who pay attention to accounting practice and supervision are uncorrelated with corporate performance.