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A Focus On The Effect Of The China's State-controlled Companies' Governace By The Reform Of The Split Share Structure

Posted on:2009-11-22Degree:MasterType:Thesis
Country:ChinaCandidate:J HuFull Text:PDF
GTID:2189360245973655Subject:Business management
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The split share structure of state-controlled listed companies has existed for many years because of the historical reasons. The split share structure has brought a broad range of issues to govern China's state-owned shares of listed companies. Along with the implementation of the reform of split share structure, the state-controlled listed companies will also face a series of management changes. By the following dissertation, the problem of how the reform of the split share structure influence the China's state-owned shares listed companies will be analyzed from both theoretical and empirical aspect.The first part is introduction. It mainly described the background,significance,the characteristics and theoretical framework of this paper.The second part is literature review. It mainly summarized the domestic and foreign theory about corporate governance and the research of the reform of the split share structure. It also concluded the variables about the corporate governance.The third part argued the reform of split structure is the inevitable choice to improve the corporate governance of the state-controlled listed companies from historical and realistic perspectives. It focused on the status in quo of the state-controlled listed companies' governance and the reform of split structure. It also described the positive significance of the improvement of the corporate governance from the share reform.The forth part mainly analyzed the influence of the reform of split structure to the state-controlled listed companies form the empirical perspectives. Firstly, we compare the governance performance of the companies which have finished the reform of the split share structure with those which have not finished the reform of the split share structure; secondly, we proved that the performances the governance performance of the companies which have finished the reform of the split share structure have been improved by the method of nonparametric test; lastly, we designed a linear regression model (LRA) ,which help us to analyze the factors of affecting the governance performances in the background of the reform, and get the linear relation between the governance performance and each factor.The fifth part made suggestions to how improve the corporate governance of the state-controlled listed companies form their internal and external governance. The part of conclusion summarized and emphasized the major view.
Keywords/Search Tags:Reform of split share structure, State-controlled listed companies, Corporate governance, Governance performance
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