独立董事薪酬制度研究

【作者】 唐俊；

【导师】 储育明；

【作者基本信息】 安徽大学 ， 经济法学， 2006， 硕士

【摘要】 2001年8月，中国证监会颁布《关于在我国上市公司建立独立董事制度的指导意见》，标志着独立董事制度在我国的正式确立。近些年来，在法学界，独立董事制度一直是公司法研究的热点问题之一。诸如独立董事在我国是否具备生存土壤，独立董事制度与监事会制度的协调问题，独立董事的任免及权责等问题，在法学界争论较为热烈。而关于独立董事薪酬制度，经济学界和管理学界研究较多，法学界关注的相对较少。笔者认为，在独立董事法律制度的建设中，薪酬制度是至关重要的具体制度，该制度关系到独立董事独立性的界定，独立董事的权利、义务和责任的设定等一系列问题，所以独立董事薪酬制度应是独立董事法律制度中极富研究价值的理论课题。 “他山之石，可以攻玉”，美国和英国的独立董事制度是具有代表性的两类独立董事制度，两者在独立董事薪酬制度方面相对也较成熟。他们的共同做法包括：给予独立董事以多种形式的激励，薪酬水平也呈现上升趋势。但两者的差别也很明显：(1)英国独立董事的薪酬水平普遍比美国要低；(2)股票期权计划在美国更受欢迎；(3)两者薪酬的决定机关也不尽相同。我国独立董事薪酬制度还很不完善，问题主要体现在，薪酬激励不足，形式单一，薪酬之间差距甚远，薪酬的决定机关不合理。针对我国独立董事薪酬的现状，借鉴美英两国独立董事制度在薪酬方面的成果，笔者认为：(1)全面科学的确定独立董事薪酬的给付原则：相对独立性原则、对称性原则和公开性原则；(2)改变单一的津贴形式，实行薪酬方式的多元化，尤其是引入浮动津贴和股票期权制度；(3)改革独立董事薪酬的决定机关，在董事会中设立全部或主要由独立董事组成的薪酬委员会，由它来拟订独立董事的薪酬预案，报股东大会讨论通过；(4)建立和完善独立董事责任保险制度。 随着独立董事积极作用的日益突显，独立董事薪酬制度建设必将引起上市公司和立法者的重视，对于独立董事薪酬制度所作的法律思考也将促进我国独立董事制度的发展和完善。更多还原

【Abstract】 In August, 2001, the CSRC promulgates " Instruction Opinion about the marketCompany in Our country To establish Independent Director System ", symbolizes theindependent director system in our country’s official establishment, Recent years, inthe legal science, the independent director system is always a hot topic of law ofcorporation researches, such as independent director in our country whether has thesurvival soil, the coordination on independent director system and the board ofsupervisors system, the independent director appointing and dismissing ,power andresponsibility and so on, is warm at the legal science argument. But aboutindependent director salary system, economical and management science researchmore, the legal science pay little attention relatively. The author thought that, In theindependent director law system construction, the salary system is the very importantconcrete system, this system relates to the independent director’s independence,independent director’s right, voluntary and responsibility hypothesis and so on aseries of questions, therefore the independent director salary system should be in theindependent director law system the extremely rich research value theory topic"The learning from others, may attack the jade", American and England’s independent director system has the representative two kind of independent directors system, two relative is also mature in the independent director salary system aspect, their common procedure includes: Giving the independent director by the many kinds of forms drive, the salary level also presents the trend of escalation. But the differences also very obvious: (1) The English independent director’s salary level must be lower than US generally; (2) The stock option is more popular in US ; (3) The salaries decision institutions also are different. Our country independent director salary system is very imperfect, the question mainly manifests in: Salary drive insufficiency, form sole, the disparity is really far between the salary, the salary decision institution is unreasonable. In view of our country independent director salary present situation, profits from the America and Britain independent director更多还原