A Research On The Corporate Governance Reform In Korea After The Financial Crisis And The Inspirations From It

After the financial crisis, a great adjustment in corporate governance has been made, and has contributed to the recovery of the economy in Korea. From a historical and cultural view, Korea has a very close relationship with China, and one's cultural consciousness can have some impact on one's economical behavior. So we are confident that there must be some experience in the corporate governance reform worth referring.This paper started with the description of the status of corporate governance before the financial crisis and its reform after the crisis, it gave a detailed description of some characteristics of Chaebol and six aspects of corporate governance in Korea, and summarized the reform in Chaebol, the protection of the shareholder's rights, the construction of direct board, etc.. Based on the above information, it made a positive analysis on the effect of the reform with the data of the listed companies. The statistical description of some indices of the corporate governance shows that the reform does have some effect. The paper has an innovation in the evaluating of the company's performance, it used a modeling method named AHP to gain a comprehensive index of performance. The result of the positive analysis shows that the debt ratio has a negative relationship with performance, while, the concentration of share has a positive relationship with it. In the last part of the paper, we got some inspirations for the improvement of China's corporate governance, based on a comparison of the corporate governance between Korea and China with the data of China's listed companies.