A Grounded Theory Exposition of the Role of the Supervisory Board in China*
通过访谈和扎根理论方法，研究中国上市公司监事会的四种角色（贵宾、友好顾问、受限监督者、独立监督者）及其影响因素。
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.