Research On Guarantee Of Listed Companies From The Perspective Of Corporate Governance

Guarantee has both advantages and disadvantages to the listed companies and its stockholders, so the listed companies should regard it with reason. Many cases of guarantee in listed companies are characterized by irrational which brought great risk to listed companies,securities market and financial market. For the guarantees which violated the regulations and were exposed to society, most of them are manipulated by leading shareholder or ultimate shareholder which suggest that corporate governance is very important to guarantee decision. The author intends to analysis guarantee in listed companies from the perspective corporate governance.At first, this thesis expound the concepts of guarantee, rational guarantee and irrational guarantee; then it give an overview to literature about corporate governance and guarantee, and analysis the correlation between listed companies guarantee and corporate governance. The paper generalizes the representation of irrational guarantee on the basis of the analysis of the history of China's listed companies guarantee. Irrational guarantee brought great risk to listed companies,securities market and financial market. According to the above study, the author gives some suggestion to deal the problems in listed companies' guarantee. The paper advises that we should strengthen the independence of board , establish management system of corporate guarantee and society credit system, financial institution also need to control risks from corporate guarantee actively. The executive of these advices will make guarantee decision more rational.