历经200多年的发展，家族企业已经成长为民营企业的重要组成部分，并在世界 经济中扮演着重要角色，家族企业的蓬勃发展为我国经济平稳发展做出了巨大贡献。 董事会结构作为公司治理结构的核心，其治理效率直接影响家族企业整体绩效水平， 一个拥有合理董事会结构的家族企业可以在激烈的竞争中脱颖而出。现有研究集中于 从理论层面对家族企业董事会结构进行探究，缺乏实证研究数据支持。本文选取我国 上市家族企业为样本，通过搜集所需数据，实证探究不同两职状态下董事会结构与企 业绩效的关系。研究结果不仅拓展了董事会结构的研究内容和应用范畴，而且为企业 进行合理的董事会建设提供了战略指导。 通过阅读文献，本文首先对董事会结构、企业绩效进行概念界定及文献综述，为 后文研究提供理论支撑。其次，把家族企业的“独有特性”考虑其中，从董事会规模、 独立董事比例、女性董事比例、家族董事比例、家族董事亲疏程度五个维度分析家族 企业董事会结构与企业绩效的关系，为研究假设的提出打下坚实的理论基础。再次， 提出家族企业董事会结构与企业绩效关系的研究假设，进行变量定义，构建回归模型， 并利用SPSS20.0软件进行描述性统计分析、相关性分析及回归分析，将实证结果与所 提假设对比。最后，阐述本文的研究结论，指出论文的创新性成果，并提出研究展望。 根据本文的研究结论，我国家族企业中，在董事长与总经理不同的两职状态下， 董事会结构的不同维度会对企业绩效产生不同影响。两职合一时，董事会规模负向影 响企业绩效、家族董事比例正向影响企业绩效、家族董事亲疏程度正向影响企业绩效 均通过显著性检验，而独立董事比例与企业绩效正相关，与原假设不一致。两职分离 时，独立董事比例与企业绩效显著正相关，家族董事亲疏程度与企业绩效显著负相关 均得到验证，家族董事比例负向影响企业绩效得到部分支持，而董事会规模与企业绩 效负相关，原假设不成立。另外，无论是否两职合一，女性董事正向影响企业绩效的 假设未得到验证。 关键词：家族企业；董事会结构；企业绩效 V Abstract After more than 200 years of development, family businesses have grown into an important part of private enterprises and played an important role in the world economy. The flourishing development of family businesses has made great contributions to the steady development of China's economy. As the core of the corporate governance structure, the governance structure directly affects the overall performance level of the family business. A family business with a reasonable board structure can stand out in the fierce competition. The existing academic research on the structure of the board of directors of family business is mainly focused on theoretical analysis, and there is an urgent need for empirical research data support. This paper selects the listed family businesses in China as a sample, and empirically explores the relationship between the board structure and corporate performance under the different board leadership structure by collecting the required data. The research results not only expand the research content and application scope of the board structure, but also provide strategic guidance for the company to carry out reasonable board construction. By reading the literature, this paper firstly defines the structure of the board of directors, corporate performance and related literature review, providing theoretical support for the latter research. Secondly, this paper takes the "exclusive characteristics" of the family business into account, and the board structure of the family business is analyzed from five dimensions: board size, proportion of independent directors, proportion of female directors, proportion of family directors and the kinship of family directors. It lays a solid theoretical foundation for the research hypothesis. Thirdly, it puts forward the research hypothesis of the relationship between the board structure of the family business and the performance of the company, defines the variables, constructs the regression model, and uses SPSS20.0 software for descriptive statistical analysis, correlation analysis and regression analysis, then compares the empirical results with the proposed hypotheses. Finally, it expounds the research conclusions of this thesis, points out the innovative results, and puts forward the future prospects of this paper. According to the research conclusions of this paper, in the family business of China, the different dimensions of the board structure will have different effects on corporate performance under the different board leadership structure. In the presence of CEO duality (board leadership structure that assigns the roles of both CEO and chairman to the same person), the hypothesis that the board size is shown to have a negative influence on corporate performance, the family directors is shown to have a positive influence on VI corporate performance, and the kinship of family directors is significantly positively correlated with corporate performance have all passed the significant test. The hypothesis of independent directors will have a positive impact on the performance of the company, which is inconsistent with the original hypothesis. In the presence of CEO non-duality (board leadership structure that is split between the roles of the CEO and the roles of the chairman), the hypothesis of independent directors is significantly positively correlated with corporate performance. The kinship of family directors is significantly negatively correlated with corporate performance. The hypothesis that the proportion of family directors negatively affects corporate performance is partially supported. The size of the board of directors negatively affects corporate performance, the original hypothesis is not established. In addition, the hypothesis that female directors are positively affecting corporate performance has not been validated, no matter under which kind of board leadership structure. Key words: family business; board structure; corporate performance VII 目 录 摘要 ................................................................................................................................. I Abstract ................................................................................................................................ III 第一章 绪论 .................................................................................................................... - 1 - 1.1 研究背景 ..................................................................................................................... - 1 - 1.2 研究意义 ..................................................................................................................... - 1 - 1.3 研究内容与方法 ......................................................................................................... - 2 - 1.3.1 研究内容 ........................................................................................................... - 2 - 1.3.2 研究方法 ........................................................................................................... - 4 - 第二章 相关概念及文献综述 ........................................................................................ - 7 - 2.1 董事会结构 ................................................................................................................. - 7 - 2.2 企业绩效 ..................................................................................................................... - 8 - 2.3 董事会结构与企业绩效关系的文献综述 ................................................................. - 9 - 2.3.1 董事会规模与企业绩效关系的相关文献 ....................................................... - 9 - 2.3.2 独立董事比例与企业绩效关系的相关文献 ................................................. - 10 - 2.3.3 女性董事比例与企业绩效关系的相关文献 ................................................. - 11 - 2.3.4 家族董事比例与企业绩效关系的相关文献 ................................................. - 12 - 2.3.5 家族董事亲疏程度与企业绩效关系的相关文献 ......................................... - 13 - 2.4 董事会领导权结构的相关文献 ............................................................................... - 14 - 2.5 本章小结 ..................................................................................................