This study examined the impact of board independence on corporate governance and the mediating role of financial asset allocation. Data analysis of nonfinancial A-share companies in Shanghai and Shenzhen from 2015 to 2022 indicates that board independence positively correlated with corporate governance level; this was partially mediated by financial asset allocation. The findings can optimize board structure and improve corporate capital structure and governance levels.

中文翻译：

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董事会独立性与公司治理：金融资产配置的中介作用


本研究探讨了董事会独立性对公司治理的影响以及金融资产配置的中介作用。对 2015—2022 年上海和深圳非金融 A 股公司数据分析显示，董事会独立性与公司治理水平呈正相关;这在一定程度上是由金融资产配置所中介的。研究结果可以优化董事会结构，改善公司资本结构和治理水平。