A Study On The Correlation Between Corporate Governance Structure And Operation Achievement Of China's Tourism Listed Companies

Corporate Governance Structure is an outstanding argument in corporate management, the kind of Corporate Governance Structure will affect Listed Companies'Performance and China's economy.In order to study the relationship between Corporate Governance Structure and Operation Achievement, based on the existing theoretical and analysis, the text study 60 samples of Tourism Listed Companies from 2005 to 2007 by using SPSS V13.0.The selected indicators of Corporate Governance Structure including: Board, Outside, Leadership, Director Pay, Executive Pay, Disclosure, Concentration, Frequency and Supervisor Size. The text finally used ROE and EPS measure Operation Achievement, and take Regression Analysis to test the relationship between Corporate Governance Structure and Operation Achievement.The study shows that(1)there is no significant linear relationship between Board and Operation Achievement(ROE,EPS);(2) there is no significant linear relationship between Outside and Operation Achievement(ROE,EPS);(3) there is extreme significant negative correlation between Leadership and Operation Achievement (ROE,EPS);(4) there is no significant linear relationship between Director Pay and Operation Achievement(ROE,EPS);(5) there is no significant linear relationship between Executive Pay and Operation Achievement(ROE,EPS);(6) there is no significant linear relationship between Disclosure and Operation Achievement (ROE,EPS);(7)there is significant positive correlation between Concentration and ROE; there is no significant linear relationship between Concentration and EPS;(8) there is no significant linear relationship between Frequency and Operation Achievement(ROE,EPS);(9) there is no significant linear relationship between Supervisor Size and Operation Achievement(ROE,EPS).Through the survey, the thesis believes that it is necessary to take perfecting Corporate Governance Structure as a core to improve the Operation Achievement of China's Tourism Listed Company. Some measures as follow: optimize the elements of Corporate Governance Structure; establish and improve the indicators system of Operation Achievement; improve the Leadership gradually; make Concentration play further effective.