Study Of The Relationship Between Directors Of Group Structure And Corporate Performance And Governance Practices

Directorate function is the core issue of inner corporate governance; the only way of enhancing inner corporate governance is to improve directorate operating mechanism. The implement of independent director system in China introduces a new interest group in the corporate governance gaming through introducing some independent persons, gaming frame which includes inner director's group, dominative shareholder's pluralistic director's group, independent director's group and other shareholders pluralistic director's group was formed.Presently, many researches aimed at the relation between directorate structures and firm performance and governance behavior by using the concepts of independent directors, outer directors and inner directors et al. This thesis considers the existing gaming of the directorate governance is the process of certain interest group (director group) searching interest league and aiming at group interest maximum and risk minimum. In the directorate gaming process, directors with close interest or risk trend engender group behavior easily, and that the near interest groups will shape certain incompact or fixed interest league. Thereby comes forth the behavior diversity of the diverse director groups (especially for outer directors) and finally these diverse behaviors affect the gaming result. Therefore, this thesis considers that sorting the directors into five groups named inner directors, independent directors, pluralistic directors from dominative shareholder, pluralistic directors from other shareholders, and the other directors based on the differences of interest relationship and trust agency mechanism of the directors and processing the research aimed at the four director groups which have clear interest relations has more practical and academic meaning.Then, based on Principal-Agency Theory and behavioral theory, this thesis aims at director groups' gaming hypothesis, sets a research model encircling inner corporate governance, analyzes the influence of stockholders' and director groups' structure to firm performance, and analyzes factors impacting governance behaviors of director groups, then sets the hypothesizes.With SPSS 10.0, based on the existing research, this thesis disposes the open data from Chinese capital market (213 valid samples) and data from the survey of Chinese list companies (291 valid samples, for dependent directors, pluralistic directors from dominative shareholder and other shareholders) by using methods including correlation analysis, gene analysis of sample characteristics, general liner regression and hierarchical multiple regression model et al. This thesis tests director groups' independent function for firm performance, the mutual function of director groups and shareholder structures for firm performance, and the factors which will affect the behavior of the director groups.The empirical findings show that director's groups that divided according...