Notice of Retraction: Research for relationship between directorates' characteristics and the effectiveness of corporate governance — Evidence from the turnover of top management in Chinese listed corporations

Taking turnover of top management team in Chinese listed corporations as the sample, this study examines the internal relationship between the characteristics of board of directors and the effectiveness of China's corporate governance with the related corporation management and financial data from 2004 to 2009. The empirical results show that: (1) The company performance of the previous year has an influence on the Turnover of Top Management, which shows the effectiveness of corporate governance in Chinese listed corporations. (2) With the further reform of corporate governance, the leadership structure of board of directors is intensely normative in Chinese listed corporations and the separation of CEO and board chairman can increase the probability of the turnover of top management. (3) Not all of the characteristics of board of directors have a direct relationship with the effectiveness of China's corporate governance, among which, the frequency of board meeting and the separation condition of CEO and board chairman do show a significant correlation with that effectiveness.