Empirical Research On The Relationship Between Behavior Of Board Of Listed Company And Corporate Performance In China

As one of the core structures of company management, Board of Directors is an important decision-making and supervisory organization. Accordingly, a normative and great efficient board is very important to increase efficiency in the management and the governance of a com-pany.Until now, there is a far-ranging argument at the board scale and board structure etc. in the overseas studies. It is also the hot point on the board structure among the domestic scholars. The study of the board behavior mostly stays on the theory. On the other hand, On August 21st, 2001, Chinese Securities Regulatory Commission (CSRC) issued the instruction about setting up In-dependent Director Institute in the listed corporation, which indicates that our country began to set up independent director system in the listed corporations. Then, whether the function of the Independent Director Institute would affect the board activity or corporate performance is a no-ticeable matter.This thesis adopts both normative and experimental methods. After reviewing the results that overseas and domestic scholars have studied, it takes the companies, which had become the A share listed company in Shanghai and Shenzhen stock exchanges before December 31st, 1999, as the experimental data materials. Based on the tool of SPSS13.0, it analyzes the relation be-tween board behavior and corporate performance from 2002 to 2005, just like board meeting,board scale,independent directors ratio and so on.The results show that the efficiency of board meeting is not great; the Independent Director Institute has an effect on board meeting and corporate performance; the scale of the board could make a positive function on corporate performance but the chairman of board acts as CEO or general manager has no influence on listed companies in some degree.At length, the thesis puts forward the suggestion to board management, and takes an out-look for the research in order to offset its localization.