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The Structure Of Corporate Governance And Financing Of Listed Companies In Our Country

Posted on:2006-09-17Degree:MasterType:Thesis
Country:ChinaCandidate:Z M FengFull Text:PDF
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In general, the structure of corporate governance is decided by the structure of financing, and in turn, the corporate governance has affect on financing. But, because of particularity of our country's listed companies, the effect of financing is smaller than the corporate governance. Because most of the listed companies came from traditional state-owned enterprises by share system reform, and in the during of the form, the designer put forward state-owned shareholding,corporate person shareholding and circulation shareholding in order to uphold the public ownership. At the same time, the state-owned shareholding and corporate shareholding can't circulate in the stock market. Accordingly, the listed companies have abnormal share holding structure. Therefore, the corporate governance structure has been interfered by the government. Thus, share meeting,board of directors and board of supervisors are useless. By the effect of the imperfect governance structure, the listed companies are inclined to equity-financing. Consequently, the corporate g overnance is inefficient. Therefore, we should perfect the c orporate governance from the financing perspective and optimize the financing structure from the corporate governance perspective. Thereby, we can make financing and the corporate governance promote each other. The author put forward some a dvice as to the corporate governance and financing by describing their present conditions. This thesis consists four parts. The first part describes the relationship of corporate governance and financing. The second part and the third part describe the present conditions of corporate governance and financing separately. The forth part mainly describes the suggestions of perfecting the structure corporate governance and financing.
Keywords/Search Tags:Listed companies, Corporate governance, Financing, Relationship, Present condition, Suggestion
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