我国上市公司董事会行为与公司绩效变化的实证分析  

Empirical Analysis of Performance Change of Listed Companies and Behavior of the Board of Directors

作　　者：胡晓阳[1] 李少斌[1] 冯科[2] 

机构地区：[1]暨南大学金融系,广东广州510632 [2]北京大学国民经济核算与经济增长研究中心,北京100871

出　　处：《中国软科学》2005年第6期121-126,共6页China Soft Science

基　　金：国家自然科学基金(70402011);暨南大学人文社科"引进人才"项目(002jxy0015)

摘　　要：董事会作为最重要的公司治理机制之一,对于公司绩效具有重要影响。董事会的日常运作直接体现了董事会在公司治理和公司价值创造中的作用。本文研究发现我国上市公司董事会会议次数的增加没有明显改善公司未来绩效,甚至呈现一定的负相关,董事会不能有效控制公司费用。实证检验表明,我国上市公司董事会行为的质量还需要提高。Being one of the key corporate governance mechanisms, the board of directors plays an important role in corporate performance. The board of directors' daily operation directly embodies the function of corporate governance and value creation. The paper shows that more times of meeting of listed companies' boards of directors in China mainland don't obviously improve companies following performance, but to some extent bring negative effects, and the board of directors couldn't control expense efficiently. Empirical study points out that the quality of their boards of directors' behavior should be improved.

关 键 词：上市公司 董事会行为 公司治理 公司绩效 

分 类 号：F406.11[经济管理—产业经济]