Abstract: Organizational management is the basic framework of enterprise formation, and the choice of organizational management mode determines whether an enterprise can operate effectively. This paper innovatively studies the influence of organizational management model on the growth of enterprises from a quantitative perspective and uses corporate governance as a proxy variable of the organizational management model to analyze the companies listed in Shanghai and Shenzhen stock exchages during 2000 to 2019 from three dimensions:equity structure, board structure, and executive incentives. The results show that the growth of a company will be harmed by over-concentration of shareholding, but significantly promoted by proper size of the board of directors, proper proportion of independent directors, right amount of compensation incentives paid to executives and proper percentage of shares held by senior management. Furthermore, because of the importance of energy companies to the national economy and the particularity of their organization and management model, this paper takes 121 A-share listed energy companies as the research objects for an in-depth research. It is found that the above conclusion regarding shareholding concentration and executive compensation incentive is true of the 121 energy companies. Unlike other companies, energy companies display an insignificant relationship between their growth and board size, independent director proportion and executive shareholding.

Key words: organizational management model, company growth, equity structure, board structure, executive incentives