Research In Relation Between Business Performance And Board Structure Of Listed Company In China

It was called the important discoveries that the emergence of joint-stock enterprises in the 19th century. Through long development, joint-stock company became the main organizational form. How to run the joint-stock company effectively? The board played a great role. Since the late 20th century, it emerged that many large foreign companies close down due to internal governance problem, especially in Europe and American developed country. The internal governance issues have been become the hottest, in particular board construction. Since reform and opening up, our government has being transition from planned economy to market economy. As the basic constituent units of market economy, the reform and opening up has become the urgent task. How to establish the normal corporate governance structures has become the key research issue. Our scholar made progress, but there were still many problems.At the starting point of corporate board structure and performance in this paper, I researched the samples of 292 listed company in Shenzhen and Shanghai stock exchange market before December 31, 1995. From the point of view of the size of the board members, the number of independent director and the board meeting, my research analyzed company performance from 2001 to 2004. At the same time, I compared the situation in stock market and the relation between listed company board structure and company performance in particular macro environment. Analyzed the related data of board variable and company performance by Poisson correlation coefficient matrix, I found the positive correction between board variable and company performance, the positive correction between the number of the independent director and company performance, not obvious correction between the state of joint board function and company performance, the positive correction between the board action and company performance. On the basis of this study, the paper put up with some suggestion about board structure, board incentive and information administration.In order to strength the practicability, in the chapter six I study the problem in Yunnei Power Co.,Ltd listed in A-share market according to this research results.