| Since the 1990s, research on corporate governance in theory fields and practice both attract tremendous attention, forming the global wave of reform in corporate governance. In the corporate governance, the board of directors is in the core position, it can be said, through effective supervision, Board optimizes business decisions, deploying shareholders capital and enterprise resource. Based on accountability, the purpose of the board of directors is maximizing shareholders’ interests. In theory fields, research on the relationship between characteristics of the board of directors and enterprise value is few. Most research is on the relationship between the structure and scale of the board of directors and the corporate performance. Enterprise performance is in the enterprise level, which is the performance of the operation. While enterprise value, namely the shareholder interest maximization is the goal of the board of directors. Chinese financial firms have been restructured into "companies", who establishes the modern enterprise system and governance institutions that shareholders meeting, board of directors, board of supervisors, which has begun to actual operating. Whether the board of directors can really play a key role in financial enterprises, whether its characteristic indexes can promote the growth of enterprise value and what the effect and influence degree is, are the core issue in the fields of the board of directors of the financial enterprises and the enterprise value.This article from the relationship between corporate governance and characteristics of the board of directors, the relationship between value and particularity of financial enterprise value and the relationship between characteristics of the board of directors and the financial enterprise value three aspects, combing the related literature, based on the principal-agent theory and resource dependency theory as the basic theory, rely on the SCP theory of industrial economics, from two aspects that structure of the board of directors and behavior of the board of directors build the description framework of the board of directors, the performance of the board extended to the action on enterprise value, including scale of the board of directors, independent directors proportion, setting of the board of directors committee, gender of directors, setting of a chairman and a general manager, the compensation of independent directors, the compensation of members of the board of directors, shares holding by the members of the board of directors, shares holding by the chairman, the board meeting system that 10 key indicators, do research on characteristics of the board of directors and the financial enterprise value. From the logic that characteristics of the board of directors affect the function of the board of directors and then affects enterprise value reveals the relationship between the characteristics of the board of directors and the value of the enterprises.On the analysis of the particularity of financial enterprise value, from the regulatory requirements of a financial enterprise, accounting, capital structure, operating performance and operation strategy, analyze the particularity of financial enterprise value, with reference to the relevant provisions of "the financial enterprise performance evaluation method "(financial) [2011] no.50) issued by the Ministry of Finance 2011, the enterprise value of a financial enterprise is divided into growth ability, profitability, solvency and operation ability 4 aspects, the" four abilities " are the dependent variable in the empirical research.Based on theoretical research, empirical research is carried out. The sample covers 52 listed financial enterprises, including 16 banks and four insurance companies,21 securities companies and 11 multivariate financial enterprises. The growth ability, profitability, solvency and operation ability of these companies as the dependent variable, characteristics of the board of directors as the independent variable which is obtained from investigation and public information, moreover, the assets scale and equity concentration two control variables are selected to do the correlation research.Through theoretical and empirical studies, this article improves s the research between the characteristics of the board of directors and corporate value, dividing characteristics of the board of directors into two dimensions that Board structure and Board behavior, dividing corporate value into four dimensions that growth ability, profitability, solvency and operation ability, enriching the range of research, deepen the study between characteristics of the board of directors and the enterprise value. From the results of the study, it is not exact to say there is positive correlation or negative correlation between characteristics of the board of directors and the enterprise value in general. We must analyze the different characteristics of the board of directors and enterprise value in different dimensions, for example, after the study we found that the scale of the board of directors is negatively related to the companies’profitability and growth ability, and no relation with the companies’ solvency and operation ability. In the gender study, we found that the percentage of male directors in the board is not related to the growth ability and operation ability of the enterprises, and is negatively related to the profitability and solvency. It suggests that increasing the proportion of women directors in the board of directors helps to improve the efficiency of the board of directors, and improve enterprise value. On this basis, we build the linear correlation regression equation and nonlinear regression equations between characteristics of the board of directors and the enterprise value.This paper is based on the principal-agent theory, centering on the relationship between board characteristics and corporate value, linear and nonlinear empirical equation between the two proposed. And the paper aim to promote the reform of financial enterprises, provide the suggestion to improve the corporate governance of financial enterprise. There is a strong social practice and theoretical significance of the thesis.
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