The Study On The Influence Of The Diversity Of The Board On The Tunneling From Major Shareholders

Along with the increasingly concentrated ownership structure,tunneling from major shareholders gradually become a hot topic in the field of corporate governance,it involves to the second type of agency theory,also,it is widespread and to be solved among our country's listed company.Applying the theory of organizational behavior ofteam diversity in corporate governance,by setting the diversity of variables,connecting the performance of the board and the individual characteristics of board members.Based on Classification method of team diversity,this study established the classification system of board diversity,namely,separation,variety,disparity.And,we analyze three kinds of diversity on the tunneling from major shareholders by different mechanisms.Also by using the members of the board of directors' personal characteristics index to calculate board diversity index.The basic idea of this study is through literature review,theoretical analysis and empirical test,studying the effects of board diversity to tunneling from major shareholders and corporate performance had been studied as the regulating effect as situational variables.The content of the second chapter of this study are concept definition,the determination of relevant variables,theory and the existing literature analyse and review of the literature of board diversity an tunneling from major shareholders.The third chapter mainly analyzes the three types of board diversity respectively about the mechanism of the board diversity,and put forward the hypothesis of this study.In the second half of this study,empirical research is used to test the theory and hypothesis which raised in the first part.The main conclusions of this study are as follows:First,the separation in all samples have a significant impact on tunneling from major shareholders,and the variety in the whole sample and the samples of private enterprise will support tunneling from major shareholders,the disparity in the whole sample,private enterprises empty samples will support tunneling from major shareholders.board diversity cannot treat as the same,we need to distinguish to treat according to the mechanism of action of diversity.Second,in the empirical research part of the regulating of enterprise performance is examined,the results show that the corporate performance in most cases can strengthen the negative effect between tunneling from major shareholders and board diversity,or weaken the positive effect between tunneling from major shareholders and board diversity.The innovation of this study is that proposed a classification of diversity,and try the cross combination of organizational behavior and corporate governance.The conclusion of this study can for your reference for the selection of listed company director on a certain extent.