The meta-frontier approach can mathematically understand the production dynamics. With the help of meta-frontier approach differences, the efficiency of income and earnings between companies with different structure can be estimated. Considering the great influence of independent directors on the economic market, this study estimated such effects from the perspective of production function models. It is found that the revenue efficiency results can be optimized without considering the technology heterogeneity for listed companies. When considering the common production boundary, there is an issue that the revenue efficiency of listed companies that own official independent directors is lower than other listed companies that without official independent directors, and the empirical results show that the withdrawal of official independent directors in the market has a positive impact on the profitability of the company.