Statistical analysis of the independent director's “discourse power” in Chinese listed companies

Reporting independent opinion is one of the most important ways to represent the independent director's responsibility and “discourse power”. Under the context of information asymmetry, the independence and justification of opinion from the independent director, which represents the validity of the protection for the shareholders' interest, have important effects on supervising the managerial action and decision making. From several angels,this paper analyze the opinion types and events, using the sample from 2001, the year that the independent director system is carried out in China capital market completely, to 2010. Some problems existed in the implementation of the independent directors' responsibility are pointed out, and then some suggestions are advanced in this paper.