董事会特征与财务舞弊——来自中国上市公司的经验证据

本文以2003～2007年间我国上市公司为研究对象,系统考察了董事会特征对财务舞弊的影响,结果表明:董事会规模与财务舞弊呈"U"型关系;董事会持股比例与财务舞弊显著正相关;公司领导权结构和董事会稳定性与财务舞弊负相关;董事会会议频度对财务舞弊的抑制作用在逐步加强;独立董事比例和审计委员会与财务舞弊不存在相关性。据此提出了政策建议。

Board Characters and Financial Fraud: Empirical Evidence from Chinese Listed Companies

With data of Chinese listed companies in the 2003-2007 period, this paper systematically analyzes the impact of characteristics of the board of directors on financial fraud, the findings suggest that there is a U-shape relationship between board size and financial fraud; share proportion of board is positively related to financial fraud; separation of chairman of board and CEO, board stability are significantly negatively associated with likelihood of fraud; The inhibit effect is become stronger that meeting frequency of board put on financial fraud; there is no evidence indicating the relationship between percentage of independent directors, audit committee presence and financial fraud. According to the above conclusions, this paper gives some suggestion.