The Study On The Relationship Between Corporation Governance And Performance Of Civilian-owned Listed Enterprise In China

With the development of economy reform and change of government policy to civilian-owned economy, civilian-owned economy plays a more important role in the national economy. As a new enterprise organization form in our country, the performance and management level of civilian-owned enterprises have great influence on the development of economy. The research of the corporation governance structure of civilian-owned enterprises is a very important question in front of us.Firstly, this paper uses normative methods review the corporation governance content, introduces basic theory of civilian-owned enterprises'corporation governance and analyses the relationship between corporation governance and performance. Secondly, describe the development course of civilian-owned enterprise and status quo of corporation governance. The paper points out the existing problem of corporation governance in civilian-owned enterprise. At last, on the basis of the collection of data, selects ROE as weighed guideline to constitute dual-regression model, uses SPSS12.0 software, the author does empirical study on the correlation and regression modulus between influence factor of civilian-owned listed enterprise corporation governance and performance guideline, then comes to the following conclusions: firstly, stock rights concentration has great influence on the performance of civilian-owned enterprises; secondly, there is a negative relation between the ratio of circulating shares and the performance of civilian-owned corporation. Thirdly, the combination of director and general manager is not good for the development of civilian-owned enterprises. Finally, institutional investors can monitor the management of civilian-owned enterprises more effectively. According to those conclusions, the author makes some suggestions on how to make the corporation governance structure of civilian-owned enterprises more perfect.