本文以我国资本市场股票发行审核制度改革为背景,手工搜集主板市场第八届至第十二届拟发行公司的相关数据,实证研究拟发行人经营的独立性对股票发行审核结果的影响,结果发现,在控制其他因素的影响下,经营独立性越强(客户集中度和原材料采购集中度越低),拟发行人通过发行审核的可能性越大。 Based on the reform of China’s capital market stock issuance audit system, this paper collects relevant data from the 8th to the 12th companies to be issued by hand in the market, and empirically studies the influence of the independence of the proposed issuer on the examination and approval of the stock issuance. The result Found that under the control of other factors, the stronger the business independence (the lower the customer concentration and the lower the concentration of raw materials procurement), the greater the possibility that the issuer will pass the issuance examination.