企业二维国际化程度和董事会结构关系研究.pdfVIP

企业二维国际化程度与董事会结构关系研究* 周 建1, 2 ；方 刚1, 2 ；薛 楠1 （1. 南开大学商学院；2. 南开大学公司治理研究中心，天津 30071） 摘要：随着企业的国际化程度的提高，企业董事会结构如何变迁成为了一个关键的问题。本文以 2006 年—2008 年的中国上市公司为样本，实证分析了生产国际化程度和资本国际化程度对企业董事会结构的影响。回归结果发 现，生产国际化程度与董事会专业性、总经理/董事双职合一、董事会激励性、董事会国际化程度显著正相关，资 本国际化程度与董事会独立性、董事会激励性、董事会国际化程度显著正相关。研究结果表明，企业海外市场涉 入程度越高，就越需要具备全球化联系的结构基础。 关键词：生产国际化程度；资本国际化程度；董事会结构 中图分类号：F276.6 文献标识码：A Research on the Relationship of two Dimensions of Firm Internationalization Degree and Board Structure Zhou Jian1, 2；Fang Gang1, 2；Xue Nan1 (1. Business School, Nankai University; 2. Center for Studies of Corporate Governance, Nankai University, Tianjin 30071, China) Abstract:With the increasing of firm internationalization, how to change for board structure becomes a key issue. The research studies the impact of production internationalization degree and capital internationalization degree on board structure, using data of listed companies in China from 2002 to 2005.. The empirical results indicate production internationalization degree has significantly positive correlation with board specialization, duality of CEO and director, board incentive, board internationalization degree, and capital internationalization degree has significantly positive correlation with board independence, board incentive, board internationalization degree. We conclude that the deeper the firm is involved in overseas markets, the more globalized structure is needed. Key Words: Production Internationalization Degree ；Capital Internationalization Degree ；Board Structure ； 国企业国际化经营带来了巨大的动力。当前，已有 0 引言