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Indexed by:会议论文

Date of Publication:2015-01-01

Included Journals:CPCI-SSH

Page Number:344-350

Key Words:high controlling shareholding; family firms; board characteristics; firm performance

Abstract:The relationship of board characteristics and firm performance is an issue deserved to paying attention. According to the critical value standard, it added family firm definition and divided board characteristics into structure, scale, and behavior. By using panel data regression, it made an empirical research on 174 high controlling family firms of growth enterprise market (GEM) from 2011 to 2013. The results show that in high controlling family firms, the ratio of independent director number, top ten shareholders shareholding ratio and board member number presents negative correlation relationship with firm performance. Also, board meeting times shows positive correlation with corporate performance. In addition, CEO duality and proportion of the largest shareholder are not significantly related to corporate performance. The firms should improve governance quality and so on.