董事会结构与涉农上市公司业绩关系的实证研究
董事会结构与涉农上市公司业绩关系的实证研究(论文9300字)
摘 要:本文选用沪深证交所上市的105家涉农公司2005年-2007年的数据作为样本,对样本公司的董事会结构与公司业绩之间的关系进行了实证研究。基于这些数据分析发现:在90%和95%的概率下,董事会规模、独立董事比例和董事长总经理是否两职合一这三个重要指标都没有表现出与涉农上市公司业绩的关系显著,即董事会结构与公司业绩不显著相关。
关键词:董事会结构;涉农上市公司;公司业绩
THE EMPIRICAL STUDY ON THE RELATIONSHIP BETWEEN BOARD STRUCTURE AND PERFORMANCE OF AGRICULTURE-RELATED LISTED COMPANIES
Abstract: In this paper , these data on 105 agriculture-related companies which are listed in the Shanghai and Shenzhen Stock Exchange for the period from 2005 to 2007 as samples ,and studied the relationship between board structure and the performance of sample firms empirically. Based on these data, we found that: in 90% and 95% probability, the scale of the board of trustees, the proportion of independent directors and whether or not chairman of the board and general manager are the same man which are three important indicators for assessing board structure are not shown that they have significant relationship with the performance of agriculture-related listed companies.
Key words: Board Structure; Agriculture-related Listed Companies;
Corporate Performance
目录
引言 3
1 理论分析与研究假设 5
1.1 董事会 5
1.1.1 董事会规模 5
1.1.2 独立董事比例 5
1.1.3 董事会行为特征 6
1.2 董事长与总经理两职设置状况 7
2 研究设计 7
2.1 数据来源 7
2.2 研究变量 8
2.3 描述性统计 8
2.3.1 公司绩效 8
2.3.2 董事会与持股情况 8
3 实证结果及其分析 10
3.1 相关性分析结果 10
3.2 实证结果 10
4 研究结论和启示 11
参考文献 11
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