独立董事任职经验对IPO企业经营绩效影响研究  

Study on Influences of Independent Directors' Working Experiences on IPO Firms' Business Performance

作　　者：范思琦[1] 程林[2] 

机构地区：[1]河海大学商学院,南京211100 [2]上海财经大学会计学院,上海200433

出　　处：《世界科技研究与发展》2016年第3期663-669,687,共8页World Sci-Tech R&D

基　　金：教育部人文社会科学研究青年基金(11YJC790124)资助

摘　　要：基于对独立董事和企业经营绩效相关文献的研究,探索独立董事的任职经验对IPO企业经营绩效的影响。采用CSMAR数据库中2002~2013年披露了招股说明书的1059家IPO企业中有关独立董事的信息,得到其在IPO之前曾经在其他上市企业或IPO企业的任职经验、席位数量。根据多元线性回归的实证研究方法发现,有其他上市企业IPO经验的独立董事能够有效提高企业上市后的经营绩效,并有效抑制企业上市之前的盈余管理水平,提高企业会计信息质量。Based on previous studies and the relevant literature concerning the influence of independent directors on corporate performance,the impact of the experienced independent directors on the corporate performance are studied.The director information including their working experience in other listed companies before they take the independent director position in the IPO firm and number of seats are downloaded from prospectus in the CSMAR database.Finally 1059 IPO firms which went public from 2002 to 2013 are obtained.According to empirical research methods of multiple linear regression,conclusions can be summarized： firms with at least one independent director who has ever worked in an IPO firm have better postIPO performance,which means the IPO experience of independent directors can effectively improve the post-IPO operating performance of the IPO firm and the quality of accounting information.

关 键 词：独立董事 任职经验 IPO企业 盈余管理 

分 类 号：F271[经济管理—企业管理] F276.6[经济管理—国民经济] F272.5