The Study On Relationship Between High-Tech Listed Company's Board Characteristics And Technological Innovation Performance

Technological innovation can enhance the core competitiveness of enterprises, and improve business' performance. Technological innovation is an important component of the long-term development strategy of high-tech companies. When study the relationship between board characteristics and technological innovation, few scholars systematicly study the relationship of them. Existing studies basicly consider only the features of the board like the board size, board leadership structure and proportion of independent directors.Always overlooked the features like the board of directors, incentive characteristics and behavioral characteristics.This paper argues that it can add the age of board members, the board stake,the proportion of technology-related members ,to systematicly study their impact on technological innovation performance.This article from the perspective of corporate governance, with "the relationship between high-tech listed company's board characteristics and the performance of technological innovation" as its theme, combined with the corporate governance theory, technological innovation theory, and other basic theories. With empirical analysis as a research tool, make a comprehensive analysis of board characteristics influence on the technological innovation. Selected high-tech companies in 2010 cross-sectional data sample. Empirical test results show that board size, proportion of independent directors, the average age of the board of directors, board ownership percentage has no effect on innovation performance. The level of education of board members, the ratio of members of the technical background , the chairman and general manager of two rank-one has a positive impact on innovation performance. Finally, the paper makes a number of board governance policy recommendations.