Research On The Relationship Between Board Characteristics And Corporate Performance Of Listed Companies

Since the 1990 s,frequent domestic and international financial reporting fraud cases set off a catastrophic storm in the world's capital market.Let the world turn to corporate governance coincidentally.The Board of Directors is the important part of the corporate governance mechanism,it affects the company's performance in what way,domestic and foreign scholars have carried out extensive researches.But exactly the conclusions are not the same.In this context,this paper explores the Board mechanism of domestic Listed Companies,in order to put forward some references for improving the governance mechanisms and then enhancing the company's performance.This paper explores the effects of different characteristics of the Board of Directors on corporate performance from five dimensions,which are the size of the Board?centralization ? intimacy with the company ? structure and excited level.On this dimension of the excited level,taking into account the mutual influence of endogenous between the remuneration and corporate performance,designing the simultaneous equation model to solve the endogenous.The study has indicated: an inverted U-shaped curve relationship exists between the size of the Board of Directors and corporate performance;The Directors hold a higher proportion of shareholding,which is benefit for enhancing corporate performance;Remuneration and Corporate Performance is a circular relationship of mutual positive effect,namely higher salaries will help enhance the company's performance,better corporate performance will improve remuneration.On the basis of these conclusions,this paper presents some suggestions to enhance corporate performance,such as increasing the proportion of shareholding of the Board,the appropriate increase in remuneration,and the introduction of guided regulations to increase the proportion of female directors.