Research On The Relationship Between The Characteristics Of Board Secretary And Company Performance

The executive team,as the core for the strategy formulation and execution of a company,is an important resource for the company.Based on previous research on the characteristics of senior management team and company performance under " upper echelons theory ",this paper shifts the focus to the role of secretary of the board of directors.This paper first studies board secretary characteristics and company performance.Then by combining the heterogeneity of the characteristics,further research is conducted on the characteristics of the chairman and the board secretary.Based on upper echelons theory,similarity-attraction paradigm and some other theories,this paper takes ways of a combination of literature research and empirical research.The paper selects 2014-2018 A-share non-financial listed companies as the research sample,extracts 6 characteristics of the board secretary,including age,gender,education,tenure,overseas background,and academic background,and further summarizes the corresponding 6 characteristics differences between the chairman and the board secretary.The study found that the board secretary's age characteristics have a significant negative correlation with company performance,while the tenure,education,and overseas background characteristics have a significant positive correlation with company performance.By further distinguishing between state-owned enterprises and private enterprises,the paper finds that the relevant characteristics of the board secretary are more closely related to company performance in private enterprises and weaker in state-owned enterprises.In terms of differences in characteristics between the chairman and the secretary of the board of directors,age differences,tenure differences have a significant positive correlation with company performance,and differences in overseas background and academic background have a significant negative correlation with company performance.The results of the thesis provide a reference for the company's appointment and removal of the board secretary,an important member of an executive team,which is conducive to the company's reasonable arrangement of the board secretary to complete the board secretary's duties and strengthen cooperation with the chairman so as to achieve the growth of the company's performance.The thesis also proposes that Chinese companies emphasize social norms,and compliance with social norms is conducive to the improvement of company performance.