An Empirical Study On The Characteristics Of The Board Of Supervisors Of A-share Listed Companies And The Performance Of The Companies

Corporate governance has always been the focus of scholars,and the Board of Supervisors is one of the important contents of corporate governance.China has stipulated the establishment of the board of supervisors from the legal level and made explicit provisions on the supervisory function of the board of supervisors.It is the ultimate goal of the Board of Supervisors to exercise supervisory functions on behalf of the shareholders to promote the growth of the company's performance.According to relevant theories,a Board of Supervisors with good structure will have a certain positive impact on company.Therefore,this paper studies the impact on the company's performance from the perspective of the characteristics of the Board of supervisors.Through the study of previous scholars' research,this paper carefully selected seven characteristics of the Board of Supervisors:the size of the board of supervisors,the average level of education,the proportion of supervisors given salary,the political association of the board of supervisors,the proportion of supervisors with legal expertise in the board of supervisors,and the average age of the board of supervisors.,the proportion of women in the board of supervisors.Investigate the extent to which the board of supervisors influences company performance from seven dimensions.In the past,scholars have a lot of literature on corporate governance research,but there are few documents on the characteristics of the board of supervisors.With the improvement of the listed company system in China,the requirements for listed companies are becoming more and more strict,which is necessary to improve the governance level of the board of supervisors.Therefore,this paper conducts a more in-depth examination of the impact of the characteristics of the Board of Supervisors on the company's performance.First of all,this paper selects companies listed in China from 2007 to 2015 as research objects,and obtains 3377 effective observation data by sorting and screening the data.Combining normative research and empirical research,the seven indicators of the the size of the board of supervisors,the average level of education,the proportion of supervisors given salary,the political association of the board of supervisors,the proportion of supervisors with legal expertise in the board of supervisors,and the average age of the board of supervisors.,the proportion of women in the board of supervisors,Test and analyze its relevance to company performance.Finally,the paper analyzes the regression model:There is no significant correlation between the size of the board of supervisors and the company's performance,but from the regression coefficient of the size of the board of supervisors,the two are weakly negatively correlated.The average education level of the board of supervisors is significantly negatively correlated with the company's performance.It is recommended that the company's employers should not pay too much attention to academic qualifications,but focus on the ability and quality of supervisors.The proportion of Supervisors with compensation is not significantly related to the company's performance.The political connection of the Board of Supervisors has a significant positive effect on the company's performance,indicating that the political connection of the Board of Supervisors has a positive impact on the company's performance;The proportion of supervisors with legal knowledge is not significantly positively correlated with the company's performance,indicating that legal knowledge is necessary for the board of supervisors.The average age of the board of supervisors has a significant effect on the company's performance,but the two are negatively related.Therefore,it is recommended that enterprises consider the diversification of the age of the members of the board of supervisors;the proportion of female supervisors has a negative correlation with performance,but the significance is low.