The Board Governance And The Research Of Enterprise Financial Risk

The issue of corporate financial risk has been the research focus of scholars, but also an important research topic in the financial field. Lead to corporate financial risk, many reasons, some caused by the enterprise from external causes, some are caused by internal reasons, but the internal reasons the size of the corporate financial risk. Coupled with the strong five, at this stage of listed companies in China exist "weak" social phenomenon, so that the corporate governance of listed companies in China is particularly serious, the Board governance as the core of corporate governance, have a great impact on enterprise financial risk. Visible, the Board of Directors Governance of corporate financial risk, can effectively reduce the risk of corporate finance.In this paper, empirical research,2006-2010, Shanghai and Shenzhen stock generally listed companies as samples were analyzed by partial correlation and descriptive statistics, and multiple linear regression model to explore the governance of analysis of the board of directors of corporate financial risk impact.The empirical results show that:the only board size in the governance structure of the Board, the chairman and general manager of the occupational settings the two did not pass the significant test; the proportion of independent directors has passed a significant test, and corporate financial risk was positively related to independent directors the higher the ratio, the greater the risk of corporate finance; committees significance test was positively correlated with the risk of corporate finance in our country at this stage to set the member company’s financial risk than do not set the financial risk of the Commission; Directors motivate directors’ remuneration and directors ownership have passed the test of significance, and was negatively correlated with shareholders to provide effective incentives for directors, you can encourage members of the Board to take positive measures to reduce financial risk and business financial risk; Conduct of Directors the number of Board meetings also passed the test of significance, and was positively correlated with more board meetings, the greater the risk of corporate finance and business financial risk. Suggestions to improve the governance of the Board for the empirical results, and follow-up study further outlook.