资本视角下对独立董事制度研究的反思

独立董事制度与资本市场的天然联系提供了一个从本质上理解相关实践和立法的切入点。独立董事制度并非内生于传统公司制度或表现为公司内部治理的自然演变,其制度价值指向公司外部治理。既往研究多基于“二权分离”理论,从公众公司股权结构等视角出发,着力于探讨其与公司内部的治理关系。文章认为,独立董事制度不应仅被视为公司法制的组成部分,相关研究也应超越公司治理的范畴,将其定位为资本市场基础制度建设的重要构成部分。独立董事制度于我国的意义更在于健全我国资本市场法治,促进企业加速融入全球化的资本市场。

Rethinking studies on independent directors from the perspective of capital market

The inherent relationship between the doctrine independent directors and the capital market offers researchers a way to achieve a profound understanding of the related practice and legislation.The fact revealed by a careful examination of the intrinsic relation between capital,the capital market and independent directors is that the doctrine of independent directors,by no means,drives from the traditional corporation law system,or from the natural evolution of corporate governance.The value of independent d...