Effectiveness of Supervisory Boards in Coordination With Audit Committees in China
TL;DRAbstract
China's supervisory mechanism is peculiar in that it integrated the supervisory board (SB) of the German corporate governance (CG) model in 1993, and has simultaneously adopted the audit committee (AC) of the Anglo-American model since 2002. This paper aims to reveal the effectiveness of SBs in coordination with ACs in China. The regulations for Anglo-American and Chinese systems are compared and further evidence is provided through interviewing two governors of all listed companies in the SSE and of 79 investment corporations in Hangzhou.
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China's supervisory mechanism is peculiar in that it integrated the supervisory board (SB) of the German corporate governance (CG) model in 1993, and has simultaneously adopted the audit committee (AC) of the Anglo-American model since 2002. This paper aims to reveal the effectiveness of SBs in coordination with ACs in China. The regulations for Anglo-American and Chinese systems are compared and further evidence is provided through interviewing two governors of all listed companies in the SSE and of 79 investment corporations in Hangzhou.
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