Ownership Structure, Corporate Governance And Corporate Performance

This paper use such analytical methods as incomplete contract theory, principal-agent theory that parts of the modern firm theories to analyze relationship among the ownership structure, corporate governance and corporate performance in order to found generality analytical frame among them. Then, through to the three dominant corporate governance mode carry on comparative analysis in the world to comb, we find the international trend of corporate governance mode gradual progress. We analyze and summarize synthetically the relevant positive research with ownership structure, corporate governance and corporate performance and draw some conclusions. Finally, through these conclusions, we analyze the relationship among ownership structure, corporate governance and corporate performance in our country. And we promote enlightenment and suggestions about optimizing ownership structure and improving corporate governance and then the corporate dealt in the performance.This paper think that special equity segmentation in our country will cause serious "insider control", to solve the equity segmentation and realize that it is imperative to circulate completely. We must strengthen the independence of the board of directors, perfect the independent director's system further, to foster institutional investors with supervising roles. We can't obtain the excellent corporate governance mode definitely in the world. No matter which kind of corporate governance mode, if you want to function effectively and promote corporate performance, you must strengthen the law of investor protection. The critical problem of corporate governance is the conflicts of interest between blockholders and minority shareholders. In present cases, main corporate governance issue is shown as robbing to medium and small investor's interests and cause the serious "tunneling" effect. The basic reason that appears "tunneling" effect lie in disappearance of legal protection, therefore legal protection system of perfection to investors is foundations that many suggestions function effectively proposed in the front. In a word, key illumination lies in: the legal protection to investors is indispensable, we...