Notice of RetractionThe panel model empirical analysis of the effect of member age of board of directors and independence on corporate performance: Examples from Tokyo main board listed companies in Japanese manufacturing industry

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

Through empirical study, this paper tests the effect of member age of the board of directors and independent characteristics on corporate performance from 863 listed companies of Japan, and the result shows that average member age of the board of directors and corporate performance are significantly positively correlated, independent director system is advantageous in improving corporate performance, whereas its function´s display is not working as time, but will be lags for one year or two years. The result of this paper has its enlightenment significance on perfecting board of directors system.