Research On The Relation Between Board Characteristics And Operating Performance Of New Third Board Company

As an important indicator of a company,business performance has always been the focus of public vision.Many scholars and experts are also keen to study the factors affecting business performance of various types of enterprises.We can intuitively see two dimensions through business performance.Firstly,business performance can reflect the level and efficiency of the enterprise.Secondly,it also shows whether the managers of the enterprise have fulfilled their respective responsibilities perfectly.So,what will affect the business performance of enterprises?Scholars and experts have found that market conditions,economic conditions,industry changes,the nature of the enterprise,and even whether the enterprise belongs to growth,maturity or recession will affect the business performance of the enterprise in varying degrees.Among the many influencing factors,the structure of the board of directors is the one that most scholars have been fond of talking about over the years.The main functions of the board of directors are leadership and decision-making.Members of the board of directors stand at a high level to coordinate the overall situation,make macro analysis and judgment based on the overall vision,control the general direction of enterprise development,and lead the company to actively respond to changes in the social environment.The original intention of the board of directors is to govern the company.There is no doubt that the board of directors is in the middle of the company.Therefore,this paper focuses on the characteristics of the board of directors as an influencing factor.We know that directors are a part of the board of directors.The decision-making of the board of directors is ultimately the decision-making of directors.The board of directors is the carrier of directors,and the directors are the concrete manifestation of the board of directors.Therefore,based on the data of 69,162 directors of 7248 companies in New Third Board in 2017,this paper uses literature research,normative analysis and empirical research to study the impact of directors'characteristics on business performance.Compared with the existing literature,this paper achieves innovation in research object,research data and research model.The Boston Matrix method is more intuitive to verify the relationship between directors' characteristics and business performance.However,this paper only considers the relationship between the relevant data in 2017,and does not consider whether the five characteristics of director leadership,director gender,director political characteristics,director professional background and director academic background will have a delayed effect on company performance,that is,whether there is a lag of time.In addition,when considering the factors affecting the company's operating performance,we do not consider the company's industry characteristics,development stage and the company's geographical issues,which need to be further studied and improved in the future.