上市公司独立董事政治背景的效应分析

根据企业政治关联理论,具有一定程度政治关联的企业能够在税收、行政审批以及信贷的可得性等关系企业生产经营的重要方面得到一定的优惠。作为企业高管的一个特殊群体,独立董事的政治关联①是否同样起着上述显著作用,其政治背景究竟给企业带来什么样的影响,文章对此提出三个研究假设。针对三个研究假设,文章在考虑公司聘请具有政治背景的独立董事这一行为可能受到公司其他高管是否有政治背景、公司业绩、公司实际控制人性质等公司特征的影响的基础上,采用联立方程模型进行实证检验。

Analysis of the Effect of Political Background of Independent Directors on Listed Companies

According to theory of enterprise politics connection,the enterprises with certain politics connection can obtain certain preferential benefits in some important aspects on the tax payment,administrative examination and credit availability.As a special group of senior executives,this paper raises three conjectures such as whether the political connection of independent directors also plays the above role,what their political background brings to the enterprises.According to the three hypotheses,this paper makes empirical test by using simultaneous equation model based on the behavior of that hiring independent directors with political background may be influenced by whether other CEOs of the company have the features of political background,achievement,real company controllers and so on.