How much do the characteristics of independent directors and supervisory board members affect firm performance in China?

Hongmei Xu

No 12/2013, Discussion Papers of the Institute for Organisational Economics from University of Münster, Institute for Organisational Economics

Abstract: This paper investigates and compares the characteristics of independent directors and supervisory board members in Chinese listed firms. The occupational backgrounds of independent directors and supervisory board members in listed firms are very different. Besides, different firms have different preferences in employing independent directors and supervisory board members according to their demands. Moreover, the empirical results show that characteristics of independent directors and supervisory board members have no clear relationship with firm performance. No matter their professional backgrounds or age, the independent directors and supervisory board members do not have the authority to affect the decision making process of management. Thus they cannot really contribute to firm performance.

JEL-codes: G30 G34 M51 O16 P31 (search for similar items in EconPapers)
Date: 2013
New Economics Papers: this item is included in nep-bec and nep-tra
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