Provided is a polymer compound which is useful for production of a light emitting device excellent in light emission efficiency is provided. The polymer compound contains a constitutional unit represented by the formula (1) and a constitutional unit represented by the formula (Y) as follows: wherein R1 to R8 represent a hydrogen atom, an alkyl group, an aryl group or the like, and RA and RB represent an aryl group or a monovalent heterocyclic group, and ArY1  (Y) wherein ArY1 represents an arylene group or the like.