股权特征与董事会成员结构关系的实证研究

我国上市公司的董事会结构比较独特,而且不同公司之间的董事会成员结构差异也较大,这种差异的形成既有历史和制度背景等方面的外部因素,也有上市公司股权特征和公司规模等方面的内部因素。股权特征包含股权性质、股权结构和股东类型三个变量因素,股权特征影响上市公司治理结构和管控模式,具体表现为董事委派方式和数量差异,因而导致董事会成员结构差异。不同的股权特征变量对董事会成员结构影响是不同的,实证研究结果表明股权性质和股权结构这两个变量对董事会结构的影响最为显著。

An Empirical Study on the Relationship Between the Ownership Characteristics and the Board Structure

There are some uniqueness of Chinese listed company's board structure.Different firms may have different board structures.Outer factors resulted the differences like the historic and system backgrounds etc.while the interior factors like the ownership characteristics and the size of the firm may also result the difference.There are three variables to the ownership characteristics which are the nature of an ownership,ownership structure and the type of ownership and the ownership characteristics may result the differences of corporate governance and controlling methods.This is shown as the differences of the way of choosing directors and number of the board directors.The different consequence of the board structure comes from the different variables of ownership characteristics.Empirical studies proved that the ownership nature and ownership structure are the two major variables that will have the major influence to the board structure.