Abstract： Improved corporate governance structure as the core of the modern enterprise system is not only an important framework for the modern enterprise system, but also to enhance competitiveness and improve business performance of the necessary conditions. As the largest economy in transition countries, Chinese economy mainly depends on the vitality and future development of small and medium enterprises. Therefore, the Growth Enterprise Market and the small and medium enterprises board to become the focus of attention. People will ask, how the corporate governance structure of small and medium enterprises board is. The current corporate governance structure is to promote its performance or not, and how to improve its corporate governance structure. Taking into account the establishment of GEM was more than a year, the paper small and medium enterprise board for the study. Choosing 60 companies from Shenzhen small and medium enterprises board, with ownership structure, board of directors, management, executive constraint mechanism and other stakeholders such as the proxy for corporate governance structure, then with the Economic Value Added as the company's financial performance indicators, empirical analysis between small and medium enterprises board and the financial performance. We found that small business board governance structure of listed companies and financial performance certain correlation exists between the relationship between ownership structure, board of directors, management, executives of the restraint mechanism and other relevant stakeholders such as the company has a significant effect on performances. This will improve our governance structure of listed companies in the small and medium enterprises board, to improve financial performance has some reference value. Key Words：small and medium enterprises board；corporate governance structure；corporate performance；regression analysis
