A Grounded Theory Exposition of the Role of the Supervisory Board in China*
通过对中国上市公司监事会成员的系列访谈，运用扎根理论方法，发现监事会在中国公司环境中扮演四种角色：贵宾、友好顾问、受审查的监督者或独立监督者，其角色取决于多种因素。
This paper reports the findings of an investigation, through a series of interviews, into the role of the supervisory board (SB) in Chinese listed companies. The interviews were conducted and analysed using the grounded theory methodology. It is found that the SB performs one of four roles under the Chinese corporate environment: an honoured guest, a friendly advisor, a censored watchdog or an independent watchdog. The role of the SB is dependent on a variety of factors: SB characteristics, power relations between the Board of Directors and the SB, shareholding structure, the influence of the Communist Party of China and government, the role of independent directors and the requirements of the corporate law.