The Empirical Research On The Relationship Between Board Characteristics And Firm Performance In Non-Ferrous Metal Industry

Non-ferrous metals are very important, both in our national economy, people’s daily life and national defense. In recent years, China’s economy is developing very quickly, and boosting the demand for the world’s resources, at the same time, developed countries are beginning to struggle on the international advantage of mineral resources."rare earth war" occurred in2012is known to be a war of no gunpowder smoke, a long-awaited game between China and the group of U.S., Japan and Europe. China launched a debate about the Battle of rare earth resources. So, non-ferrous metals are important in a country’s economic, military and people’s daily lives. The prosperity and development of non-ferrous metals industry play an important role in continuously and healthily developing the national economy. Save for a rainy day, In order to enhance the international competitiveness of China, We should take the development of non-ferrous industry resource, and increase the non-ferrous metal reserves as a strategic planning and implementing.In recent years, influenced by the European debt crisis, geopolitical crisis and a series of geological disasters, the global economy has undergone a significant decline. In this economic situation, China’s non-ferrous metals industry emerge some problems as market demand decline, prices fell, the overall slowdown in exports, industry profit margins. In order to better change this situation, improve the company’s operating efficiency, the thorough research on firm performance is particularly important.It can be seen from the related research at home and abroad in recent years, corporate governance plays an important role in improving operational efficiency, and promoting industrial prosperity. At present, the research of corporate governance mainly focused on the internal governance structure, relative scholars are more interested in function of the board of director which is the core in the internal governance structure, and the relationship between board characteristics and the performance of the company is becoming more and more concern for scholars. This paper mainly investigate relationships between the board characteristics of non-ferrous metal industry and firm performance in order to ascertain how the nonferrous metals industry board characteristics effect on firm performance, so as to provide reference for the optimization of corporate governance. This paper is divided into five parts:the first part is the introduction, which describes the paper’ s background and significance of this article; The second part is the domestic and foreign research review, that apply the foundation for the determination of the empirical research for this article; The third part is the basic theory about the relationship between board characteristics and firm performance of non-ferrous metal industry; The fourth part is the empirical research about board characteristics and firm performance of non-ferrous metal industry in our country; The fifth part is the conclusion and policy recommendations of this article. In this part, combined with the research in the front chapters, we summed up the board characteristics’ influence on corporate performance, so as to put forward the corresponding policy recommendations to improve corporate performance.