高校背景独立董事对会计信息质量的影响研究

发布时间：2018-01-04 14:22

本文关键词：高校背景独立董事对会计信息质量的影响研究　出处：《浙江财经大学》2017年硕士论文　论文类型：学位论文

【摘要】：1940年美国颁布《投资公司法》,以立法的形式将独立董事引入公司治理;直到20世纪70年代美国发生“水门事件”,才促使美国证监会要求所有上市公司设立由独立董事组成的审计委员会。1993年青岛啤酒因在港交所上市而设立独立董事,成为我国境内首家设立独立董事的公司;2001年初,我国出台《关于在上市公司建立独立董事制度的指导意见(征求意见稿)》,标志着独立董事制度有了新的发展和完善。近年来,对党政人士兼职的监管越来越严格,从2013年中组部下发文件导致政治背景独立董事任职受到限制,致使政治背景独立董事离职潮,并导致高校背景的独立董事比例进一步增加,到2015年11月初,教育部办公厅发布《关于开展党政领导干部在企业兼职情况专项检查的通知》(下文简称“通知”),对副处级以上的高校独董进行了限制,导致独立董事的结构再次发生变化,进而影响到公司治理。而今年教育部再次发文,对高校独立董事任职条件有所放宽,由统一性限制规定转为由各个单位自行决定。高校独立董事这一特定群体所受到的特殊关注,决定了对其特征、制度优化及其效果研究的必要性,此为本文目标之所在。本文首先以委托代理理论解释了独立董事存在的必要性,结合利益相关者理论和不完全契约理论,分析了独立董事制度解决公司治理内部人控制以及大股东侵占小股东利益的根源问题。接着从我国政策发展的历程中提出确保独立董事发挥作用的独立性和专业性等两个主要特征,以及高校独立董事相对于其他背景独董还有着学历高、声誉佳的特征,进而发挥对会计信息质量的作用。本文将以高校独董的独立性和专业性作为主要变量,结合学历和声誉特征,进一步开展实证研究。本文依据主要假设,选取我国2012年-2014年深交所高校独董所在上市公司为样本,并将深交所信息披露评级作为衡量会计信息质量的标准,首先对有无高校背景独立董事对上市公司会计信息质量进行研究,接着从独立董事最显著的独立性和专业性特征出发,将高校独董的财务背景、法律背景、与上市公司的关联关系和职务高低作为研究对象,采用多元回归方法作出分析,最后利用衡量会计信息质量最广泛的Jones模型替代深交所信用评级进行稳健性检验,从而得出最有利于上市公司会计信息质量的高校独立董事的特征。这不仅为上市公司对独立董事的任职人选提供参考建议,同样也为独立董事制度的进一步完善提供了建议。本文的研究结论为:(1)具有高校背景的独立董事更能有效地提高上市公司会计信息质量;(2)具有会计、法律等相关专业背景的高校独立董事,对于上市公司提高信息质量具有正面的促进作用;(3)副处级以上高校独立董事对于上市公司信息质量并无负面影响,这也从一个侧面说明放松对副处级以上高校独董的限制要求的合理性;(4)与上市公司存在一定关联关系(如与高管之间的校友关系),可能导致其在任职过程中独立性受损,从而降低上市公司会计信息质量。针对此,论文提出了相应的政策与实务建议。具体包括:(1)为保证企业的会计信息质量,企业可以更多地选择高校背景的独立董事,且选择具有专业性的高校独立董事更优;(2)在独立董事的选择上保证独立董事的独立性,尽可能避免一些特殊社会关系对独立性的影响;(3)从政策角度出发,相关部门可以提高独立董事的监督和战略职能作用。本文的主要创新在于:(1)本文对独立董事制度变迁进行梳理,总结高校独立董事特征,并就上市公司会计信息质量的形成机理进行分析,研究内容有一定的创新性;(2)本文以其立独性和专业性为切入点,考察不同高校独立董事对上市公司会计信息质量的影响,并肯定了相关政策的要求,而目前很少有专门对高校背景独立董事进行细致研究的文章,故研究角度有一定的创新。
[Abstract]:In 1940 the United States enacted "investment company law", in the form of legislation will be the introduction of independent directors of corporate governance; until 1970s the United States "Watergate", that prompted the United States Commission requires all listed companies to establish an audit committee composed of independent directors.1993 Tsingtao Brewery listed on the Hong Kong stock exchange established by independent directors, has become the first mainland China the establishment of independent directors of the company; at the beginning of 2001, China promulgated the "guiding opinions on establishing the independent director system in the listed companies (Draft)", marks the independent director system has a new development and improvement. In recent years, more strict supervision of the party and the government are part-time and from the Central Organization Department issued a document in 2013 leading political background of independent directors is restricted, the political background of independent directors resignation tide, and results in the background of the independent directors proportion further increased to 2015. In early November, the general office of the Ministry of Education issued "on the party and government leading cadres to carry out special inspection in the case of a part-time business notification on the (hereinafter referred to as the" notice "), the independent director deputy division level and above to the limit, causes the structure of independent directors to change again and then affect the corporate governance. And this year, the Ministry of Education issued a document again the independent director qualifications, relaxed by the unity of the provisions limit by each unit to decide. Special attention by this particular group of colleges and universities of independent directors, determine the characteristics, necessity of system optimization and effect research, this is the goal of this paper based on the principal-agent theory. Explain the necessity of independent directors exist, combined with stakeholder theory and incomplete contract theory, analysis of the independent director system to solve the corporate governance internal control and large shareholder The root of the interests of small shareholders. Then proposed that the independent directors play a role in the independence and professionalism of the two main characters from the course of China's development policy, and the independent director and independent director of background relative to other high degree, good reputation of the characteristics, and then play on the quality of accounting information. This paper will the independence and professionalism of independent director of the University as the main variables, combined with the degree and reputation characteristics, further empirical research. Based on the main assumptions, selection of China's 2012 -2014 Shenzhen University City, where the independent director on the company as a sample, and the Shenzhen stock exchange information disclosure rating as a measure of the standard of accounting information quality, first of all to have no college background of independent directors on the quality of accounting information of listed companies, and then from the independent directors of the most significant independent and professional characteristics of the University The independent director of financial background, legal background, the listed company and the relationship and position as the research object, using multiple regression method to analyze, finally using Jones model to measure the quality of accounting information the most widely used alternative Shenzhen Credit Rating tests are robust, so that the characteristics of independent directors to the quality of accounting information of listed companies. This not only for companies listed on the independent directors of the candidate to provide suggestions, also provides suggestions for further improving the system of independent directors. The conclusion of this paper is: (1) independent directors with college background can more effectively improve the quality of accounting information of listed companies; (2) accounting, independent directors of colleges and universities the background of law and other related professional, for listed companies to improve the quality of information has a positive role in promoting; (3) the Deputy level of independent directors on high school On the information quality of listed companies has no negative effect, this also from a side that reasonable relaxation of the Deputy level of university independent director restrictions; (4) there is a certain relationship with the listed company (such as executives and Alumni Relations), may cause damage in the process of post independence, thereby reducing the accounting information the quality of listed companies. For this, the paper puts forward policy and practical suggestions. Including: (1) to ensure the quality of accounting information of enterprises, enterprises can choose more independent directors in the background, and the selection of independent directors with professional universities better; (2) to ensure the independence of independent directors in the independent director's choice, as far as possible to avoid the influence of some special social relations of independence; (3) starting from the policy point of view, the relevant departments can improve the supervision of independent directors and the main strategic functions. To innovation is: (1) this paper sorts out the independent director system changes, summarize the characteristics of independent directors, the formation mechanism and the quality of accounting information of listed companies is analyzed, the research contents have certain innovation; (2) based on the independent and professional as the starting point, the influence of independent directors different universities on the quality of accounting information of listed companies, and affirmed the relevant policy requirements, and at present very few special detailed research on the University background of independent directors of the article, the research angle has certain innovation.

【学位授予单位】：浙江财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F271;F832.51;F275

【参考文献】