摘要
董事会是公司内部治理机制的重要组成部分。本文选择了144家民营上市公司最近三年的面板数据，分别运用混合OLS、一阶差分和固定效应估计等方法对董事会特徵与资本结构之间的关系进行了实证分析。
Board of directors is the important makeup of corporate governance. Using panel data from 144 Chinese nongovernmental listed companies during 2001-2003, this paper empirically studies the relationship between the board characteristics ,and capital structure by estimate methods such as.pooled OLS, first-order difference and fixed effect model.
基金
本文受广东省软科学研究计划项目（No.2003C70129）的资助.
关键词
民营上市公司
董事会
资本结构
nongovernmental listed companies
board of directors
capital structure
