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Ownership Concentration of Chinese joint-stock companies to the influence of independent director institution

Chapter 1 Introduction
1.1 Introduction

Independent directors mean the non-employee directors. America is the most perfect country of independent director institution. From the thirties of 20th century, https://www.51lunwen.org/America Securities Regulatory Commission advised public companies to set "non-employee directors". During the seventies of 20th century, several big companies were involved in bribery scandals to government officers and did some bad behaviors. So American courts judge to require companies change the structure of board of directors, and require board of directors must be made up of most of outside directors. For preventing big companies from abuse power, America Securities Regulatory Commission promoted actively the reform of corporation government structure. Under the background, independent director governance system came into existence as the situation requires. As seen from the above facts, American big companies appeared the condition of interior operators and managers control every decision and damage shareholdersindependent director institution ; benefits as ownership dispersion. For strengthening the functions of board of directors, AmericIndependent directors a brought into outside independent directors to govern the operators and managers.

1.2 Background of research
In China, the ownership structure of listed companies may be divided into three types. The first type is ownership highly centralized, the second type is ownership highly decentralized. The companies have not big shareholders, ownership and operation right separate basically. The third is having major relative holding shareholders, at the same time there are also other shareholders. As the predecessors of many Chinese listed companies are state-owned enterprises, the ownership structure of Chinese listed companies has essential difference compared with other western developed countries. So the researches about ownership concentration of Chinese joint-stock companies to the influence of independent director institution are obviously important. And the most important factor about ownership concentration of Chinese joint-stock companies to the influence of independent director institution is big shareholders’ occupation to the listed company assets. Then if independent director institution can bring into play due governance roles to big shareholders' occupation assets for protect the benefits of middle & small investors which is a controversial problem all along. Under the background, the paper will analyze ownership concentration of Chinese joint-stock companies to the influence of independent director. It will take the combination governance efficiency of ownership structure and independent directors as the key consideration. That is under the premise of big shareholders select independent directors, how about the governance efficiency of independent directors. 

1.3 Purpose and questions of the research
How do ownership concentration of Chinese joint-stock companies influence the independent director institution, and if independent director institution can bring into play due governance role to big shareholders' conversion of property, they are controversial problems a本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。