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| Independent Director of Adverse Opinion and Reelection |
| ZHENG Zhigang, LI Junqiang, HUANG Jicheng, HU Bo
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School of Finance/ China Financial Policy Research Center,Renmin University of China;
Hebei Finance University |
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Abstract With the unique data of China's independent directors ,this paper studies the relationship between the independent director said “no” and the reelection of the future. The results showed that issued a adverse opinion of the way sometimes than adverse opinion itself more important; even the same whether qualitative opinion, but if for the different matters, independent director future reelection possibilities are also different. Generally speaking, clear issued objections, against internal opposition matters, as well as collective said “no” independent director future re-election less likely. Therefore, the regulatory authorities should be reminded to provide more clear guidelines for the relevant legal risks.
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Received: 25 April 2016
Published: 01 January 1900
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