The independence of independent directors is a prerequisite to ensure that the independent directors of listed companies fulfill their functions according to law and effectively play the role of external supervision, however, there is a lack of corresponding norms in the existing laws and regulations to guarantee the independence of independent directors of listed companies. Since the independent director system of listed companies was established in China in 2001, after more than 20 years of improvement and development, the independent director system has become an extremely important part of the governance structure of listed companies. However, hidden worries still exist under the auspiciousness. Factors such as unreasonable nomination and selection system, unclear positioning of independent directors, significantly low remuneration, and mismatch of responsibilities and rights threaten the independence of independent directors of listed companies, leading to the problems of independent directors' interests, role positioning and non-independent performance of their duties. This paper starts from the independence of independent directors of listed companies. This paper analyzes the causes of the lack of independence and puts forward the countermeasures and suggestions to safeguard independence.

Chen Wenqi. A Study on the Lack of Independence and Countermeasures of Independent Director System in Chinese Listed Companies. The Frontiers of Society, Science and Technology (2023) Vol. 5, Issue 16: 71-78. https://doi.org/10.25236/FSST.2023.051612.

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