Research On The Impact Of Corporate Board Structure On Growth Characteristic

Some enterprises developed rapidly, some enterprises developed slowly in the wave of the economic market, what factors play such a role ,how can they play the role? This issue is a major theoretical and practical issues. Especially for the growing Chinese enterprises..This study focused on how corporate board character influence growth characteristic. This study selects 199 companies as the sample, which listed on Shanghai Stock Exchange and Shenzhen Stock Exchange before Dec.31,2007 use the date from 2005 to 2007, and research how the board character impact the growth characteristic, including the board size, the proportion of independent director, the board leadership, the board shareholding and the board emolument. Through the descriptive statistics in this paper, we can see that the board size in our country is a rising trend year by year ; the proportion of independent directors is still very low, and basically met the requirement s of the commission; a lot of companies choose the leadership structure of general manager served as director of board; board members and the average number of share holdings is an increasing trend, it is stillvery low,. The emolument is increasing year by year. Through the positive analysis, we find that board size is positively correlated with growth characterize, the proportion of independent director are not significant correlation with growth characterize, duality of general manager and chairman of board is significant positively correlated with growth characterize, the director shareholding and the directors salaries are not significant correlation with growth characterize. This study results show that the structure of the board of directors of listed companies in China in the role of enterprises is still limited, there are many problems to be perfected. Finally, this paper, based on the evidence before analysis to improve the structure of our board of directors of listed companies to improve the efficiency of the relevant recommendations of the Board of Directors, thereby to improve our country's governance structure of listed companies to enhance their growth.