以创业板上市公司2010-2013年为研究区间，以主营业务收入增长率为公司成长性指标，选择董事会规模、独立董事比例、董事长与总经理两职设置、董事学历水平、董事薪酬变量作为反映董事会特征的变量，建立多元线性回归模型，对创业板上市公司董事会特征与公司成长性惯性进行实证分析。研究表明：创业板上市公司董事会规模与公司成长性线性负相关，董事薪酬与公司成长性正相关，而独立董事比例、董事长与总经理两职合一、董事学历水平与成长性没有相关性。为进一步完善创业板上市公司董事会治理机制，提高董事会治理效率，我国应控制董事会规模，进一步完善薪酬体系和激励制度，持续完善独立董事制度，以期提高创业板上市公司的成长能力。%In order to analyze empirically the relationship between board characteristics and corporate growth of listed companies on GEM, the study analyzes the data from 2010 to 2013, takes the revenue growth rate of main business as the growth index, select the board size, the proportion of independent directors, the combination of chairman and general manager, education level and emolument as the variables, and establishes a multiple linear regression model. The results show that the board size and the growth have negative linear correlation, the emolument and the growth have positive correlation, while the proportion of independent directors, the combination of chairman and gener-al manager and education level have no correlation with the growth. In order to further perfect the governance mechanism and improve the governance efficiency, the government should control the board size and further complete the compensation system, incentive system and the independent director system, so as to enhance the growth ability.
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