We synthesized various polyurethanes(PU) haying different hard segments with different molecular weights of the soft segment to explore the effect of structure on the dispersion of silver particle in the phase of synthesized polyurethanes matrix. The thermal stability was increased by increasing the number of aromatic compound, while the degree of dispersion for silver particle was decreased. Silver particles showed better dispersion in the PU matrix having aromatic compounds when the soft segments were held constant. On the contrary, when the hard segment was held constant, silver particles on the PU matrix haying low $M_w$ of soft segment showed better dispersion than high $M_w$ of soft segment because poor chain mobility of low $M_w$ of soft segment restricted re-aggregation of silver particle. A sheet resistance of composite materials showed different aspects. In this case, the inter connection between silver particles was more important than its dispersion. In this study, the NDI-PEG 900/silver particle composite film showed the best thermal stability and electro conductivity.