The Impact Of Board Governance On Corporate Performance In Chinese Listed SMEs

Small and medium-sized enterprise establishment of the board ShenZheng stock exchange in2004, which has the vital significance for the development of SMEs. On the one hand it manifests the financing channels, on the other hand it manifests that small and medium-sized listed enterprises improve the internal governance structure to achieve the standard of the listed company. The improvement of the corporate governance structure are mainly embodied in the management of the board of directors. So board of directors is the core of the internal governance of the company. It plays a pivotal role of the company’s business performance. So how board governance affects the company’s performance was the attention and research topic. The purpose is finding a more reasonable board governance mechanism through theoretical analysis to promote the development of China’s listed companies better.Based on the principal-agent theory, modern stewardship theory and resource dependence theory, the research of this text adopts the method of the empirical research to study the influence of the board’s governance on the company’s business performance. First of all, this paper compares the foreign and domestic practice of governance of board of directors. Regarded SMEs in china as samples, the article mainly research the relationship between the board governance and corporate performance. The board governance includes the following respects:the scale of the board, the independent directors of the situation, overlapping status of board director with general manager, directors of the shareholding ratio and the number of the meeting of the board of directors. Second, in order to draw a clear result, this paper uses the data from2008year to2010year to describe each feature of the board governance and the performance status of the company in the empirical analysis process. Then it uses multiple linear regression model to examine the correlation of the two and has a conclusion. Finally, based on the above basis, the paper puts forward corresponding Suggestions to expect that these thesis can come into help for small and medium-sized listed company in china. Figure7, Table19, Reference52.