Characteristics Of Board Of Directors In The Process Of Intergenerational Inheritance Of Family Enterprises And Corporate Financial Performance

Sincethe Reform and Opening up,the private-owned enterprises in our country have grown from small to large and from weak to strong.Family-owned enterprises,as an important part of private enterprises,have also been rapidly developed and become an important organizational form that can not be ignored in our economy.Family businesses played an indelible role in promoting social employment,increasing social supply and promoting market competition.However,if the family-run enterprises want to continue operating from generation to generation,they will objectively request that family-owned enterprises carry out intergenerational transmission at an appropriate time.Therefore,family-owned enterprises have made great contributions to the social and economic development of our country.It is very important for the family-owned enterprises to achieve intergenerational success.As the top decision-making body of the company,the function of the board of directors as a board of directors will exert a significant influence on the financial performance of the enterprise.How to optimize the governance of the board of directors and improve the financial performance of the enterprise is of great significance.Domestic scholars have relatively shallow research on the characteristics of the board of directors.The introduction of the characteristics of the board of directors into the special stage of intergenerational inheritance of family-owned enterprises,and then the analysis of its literature on the financial performance of enterprises is less.In view of this,this article analyzes the influence of board characteristics of family business process of intergenerational inheritance on the financial performance of enterprises through case studies.This paper takes a typical representative family enterprise theNew Hope in China as the case study object,analyzes the inheritance succession from four aspects:the proportion of family business shareholding,the source of directors and the background of independent directors,the incentive of board of directors and the characteristics of directors The change of the characteristics of the board of directors in the three stages of the successor stage of the successor,and the influence of the change of the characteristics of the board of directors of the New Hope on the financial performance of the enterprise.In addition,the Chinese family business how to optimize the board of directors through the smooth realization of intergenerational heritage made recommendations.This paper draws the following conclusions:the different stages of intergenerational inheritance at different stages of the different characteristics of the board of directors,the successor did not enter the board stage,the New Hope that the board of directors of the family show a higher proportion of family members,members of the board of directors,incentives to the directors to pay The characteristics of the board of directors show that the proportion of the family shares is reduced,the board color of the board is weakened,and the incentive compensation for the members of the board of directors is the same as that of the board of directors.Equity incentives,the Board of Directors due to substantial adjustments,members of the Board of Directors owned by the enterprise management knowledge and experience there are differences,coupled with the relatively young,the effectiveness of corporate board decision-making and efficiency of a brief decline in the characteristics of the successor After the successor of the board of directors,the proportion of family shares began to gradually increase,pay more attention to the independent directors of the professional knowledge rather than the independent directors of the social fame,the incentive of the board of directors is also the incentive and equity incentive,the director of higher education and education As well as the average directors Lower age is characterized by the Board at this stage.The New Hope of the intergenerational inheritance of the different stages of the board characteristics of this change in the successor into the board before the promotion of corporate financial performance improvement,with the successor into the board of directors,during the intergenerational heritage of the board of directors of a major personnel adjustment,Of the instability led to a brief decline in financial performance,with the successor and board members of the joint efforts of corporate financial performance began to improve.The conclusion of the study can play a certain reference and reference function to the intergenerational transmission of family business in our country.