中文摘要：

财务丑闻的曝光，使得企业董事及高管面临严格的监管审查并导致其执业风险不断加大，由此促使作为董事和高管的风险分散与权益保障机制的董事责任保险需求愈发凸显，但是董事责任保险并非万能的保护伞。正确认识董事责任保险与企业投资效率的关系，对于企业管理层和监管部门制定相关政策具有重要意义。

英文摘要：

The exposed of financial scandals making corporate directors and executives facing regulatory scrutiny and increasing the risk of its practice, thereby contributing to the demand for directors liability in- surance which is a mechanisms of dispersing the risk of directors and executives and protecting their rights become more prominent, but the director liability insurance is not an omnipotent umbrella. Correctly un- derstand the relationship between corporate directors liability insurance and investment efficiency is impor- tant for enterprise management and the regulatory authorities to make the relevant policies.