Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/62595
Title: Board’s independence, ownership balance and financial information quality
Other Titles: 董事会独立性、股权制衡与财务信息质量
Authors: Wang, Y
Zhu, L
Chen, S
Issue Date: 2008
Publisher: 中国会计学会秘书处
Source: 会计研究 (Accounting Research), 2008, no. 1, p. 55-62 How to cite?
Journal: 会计研究 (Accounting Research) 
Abstract: 财务信息作为信息披露的主体,其质量高低直接关系到资本市场的有效运作,引入独立董事制度,彰显董事会的独立性以提高公司的透明度是监管机构改善公司治理结构的重要举措,但在我国一股独大,股权缺乏制衡的制度背景下,独立董事制度的实际运作效果不仅实务界缺乏统一的认识,而且学术界也没有提供可以判断的经验证据。本文利用中国资本市场的数据检验了股权缺乏制衡是否影响财务信息的质量,董事会的独立性是否有助于解决股权制衡的问题,提高公司的透明度。研究结果证实,股权缺乏制衡对财务信息质量有负面影响,董事会独立性在股权缺乏制衡的环境中能发挥监督制约作用,提高财务信息的有用性。
Financial information is the main part of information disclosure and its quality has a direct impact on the efficiency of capital market.Introduction of independent director(?)s institution and improving the board(?) independence is an important step in the reconstruction of corporate governance.But under our special institution environment,both the academic and the practice do not make an agreement on whether the independent director(?) institution can be an effective procedure.This paper tests whether the absence of ownership balance has a negative effect on financial information quality and whether inde- pendent director can improve the company(?) transparence.We find that the absence of ownership balance has a negative effect on financial information quality and improving board(?) independence will significantly restrict opportunism,ameliorating serviceability and predicting ability of financial informa- tion.
URI: http://hdl.handle.net/10397/62595
ISSN: 1003-2886
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