Study On Finance Governance Of Listed Companies In Post Equity Division Period

Listed companies in China have established a governance structure composed of general meeting of shareholders, the board of directors and boards of supervisors. This structure's form is relatively good but not efficient. The main reason is that governance mechanism of listed companies is not sound enough, creating confusion in the problems between management and finance is difficult to be solved. Therefore, study on finance governance of listed companies in China has significant meaning.Based on predecessors' return, this paper analyses fundamental issues about subject, object and goal of finance governance. According to this, it defines and points the meaning of finance governance. The paper clarifies the relationship between finance governance and itsmain basic theories------corporate governance theory and finance theory, especially in theinfluence by the two kinds of theories. It is the theory location of this paper.The chapter of financial-right distribution firstly introduces the definition of financial-right distribution, static distribution and dynamic distribution, and explains the history and the rule of financial-right distribution in China. Secondly, focused on the listed companies after equity division reform, it discusses the changes after financial-right distribution. The chapter of financial stimulation and restraint mechanism firstly explains the correlation concepts and methods, analyses its lack in China and influence by equity division reform. Taking the equity incentive plan of Shenzhen Agricultural Products Co., Ltd as example, it analyses some questions existing in implementation. The paper studies how to protect the investors with finance governance in China, as a supplement to finance governance frame system. The supplement aims at realistic situation for listed companies in China. It elaborates a finance governance frame to protect investors, estimates the risk faced by investors in post equity division period. Finally, the paper puts forward the policy proposals.