This study mainly explores the influence of firm performance to director compensation - the effect of mandatory disclosure regulations. The ways of disclosure of directors compensation are classified according to the disclosure conditions of the regulation. If the disclosure conditions are met, it is mandatory disclosure, otherwise, it is voluntary disclosure. The empirical results show that: (1) Companies with mandatory disclosure, compared with before the disclosure, firm performance to directors compensation has a stronger impact after the disclosure; (2) In the companies with mandatory disclosure, the impact of firm performance on the directors compensation will be weakened by the impact of the family business; (3) Compared with the companies with mandatory disclosure, the firm performance of companies with voluntary disclosure has a stronger impact on the directors compensation.