The Research Of Improving Listed Company Governance Structure In China--Analyze From Financial Structure

As an importance in modern enterprise system .listed companies governance in China hasn' t been noticed until last several years .But at present the most of discussion about it emphasizes on comparison between other countries corporate governance model ,the structure of corporate organization . Because corporate governance is a plentiful system consisted of structure , organization, institution and operation , the author considers , these discussions and researches of it can be spread from many angles .Type of financing is directly related to corporate governance in a modern company . Both debt financing and stock financing exercise influence on the form of the corporate governance and make up it , but each has different function .Starting from type of financing , this paper tries to employ a new theory view , introducing arrangement of it into the analysis of corporate governance.This paper makes an inquiry into the relationship between financing and corporate governance , and employs this general theory to discuss listed companies governance in China respectively from stock and debt structure ,and points out the existed problems .then puts forward the countermeasures of improving listed companies' governance on the basis of listed companies ' reality and interior acquirement .In view of the above .this paper is divided into the following 5 chapters.Chapter 1: Forward .It simply introduces this paper' s aim and thinking.Chapter 2:Corporate' s financing structure and corporate ' s governance structure . It first introduces corporate governance ' s concept and ideas , analyze the relationship between type of financing and governance structure , then compares two types of financing and governance structure in conditions of market economy .This chapter is the theory basis of following chapters.Chapter 3'.Listed company' s stock structure and governance structure .Stock' s function in governance shows two aspects :interiorcontrol and market control .This chapter researches the stock equity structures' appropriation (stock ratio , and stock-holder' s characteristics),the relationship between stock equity structure and corporate governance , and four circumstances that stock control is out of order , then compares the stock and governance structure of two financial models . It analyzes the present situation of governance in our country .These results shows that the unrationality of listed companies' stock structure are one of the most reasons that lead to governance' s weakness.Chapter 4 :Listed company' s debt structure and governance structure . It first introduces the function of bond and bank in governance ,and compares the relationship between bond .bank and governance , then analyzes the present situation of debt and governance structure in our country.Chapter 5:Improving financing structure and optimizing governance structure . As to the problems of listed companies' stock and debt structure in governance .This chapter puts forward the countermeasures to adjust stock and debt structure and improve corporate governance . In stock structure aspect ,the author suggest efforts should be made to reduce proportion of state-owned stock equity , increase unit-owned stock .develops investment funds .structure of the listed companies and promote the corporate governance .In bond structure aspect ,we should develop bond market , strengthen bank' s function in governance .