Research On The Relationship Between Board Stucture And Firm Performance About Listed Company Of Zhejiang

Corporate governance has become an important worldwide topic in recent years,with the reform of China's socialist market economy gradual deepening, Chinese enterprises reform is entering the new stage of corporate governance reform. Corporate governance is a institutional arrangement to coordinate the shareholders, board, management and other benefit counterparts relates, the Board of Directors is at the core position in the system of corporate governance, has a significant impact on enterprise's management and operation. Whether the board of directors can effective revolves and play a positive role, its structure is one of the most important factors.Zhejiang is one of the most developed and the most dynamic regions in the country, prosperous economic situation cultivated listed company of company which has relatively standardized operation and good performance. Most of the listed companies in Zhejiang are private company. This is an uniqueness in the listed company of Zhejiang compared with other areas. These privately-owned have great differences in the market environment, ownership structure and corporate culture compared with the state-owned listed companies. This will result in some differences in the relationship between the privately-owned listed company's board structure and corporate performance compared with the state-owned listed companies. So it's obviously unreasonable to apply the conclusions which studied of all listed companies to the privately-owned listed companies. Based on this research background, the paper take the listed companies of Zhejiang as study object, the comprehensive use of board governance theory, use theory and empirical study methods, examine separately the relationship between board structure state-owned listed companies in Zhejiang and private listed company in Zhejiang and corporate performance, find the differences between the two and analysis the empirical result, hope to provide reference for the improvement board structure of listed companies in Zhejiang to get better corporate performance.This paper can be divided into six parts in the structure and content: The first part is the introduction, introduced the research background and significance of the paper, present research situation in our country and other countries, research framework and research methods, innovations, and the definition of related concepts. The second part review comprehensively of the board of directors governance theory about corporate governance, and the international comparison of the board of directors pattern. The third part theoretically analyzed of the influence of board structure on the firm performance. The fourth part is current situation analysis in board of directors listed and company performance of listed company of Zhejiang. The fifth part of examine separately the relationship between board structure state-owned listed companies in Zhejiang and private listed company in Zhejiang and corporate performance in the application of financial data two thousand and five after share splitting reform. The sixth part firstly analyzed and explained the empirical results, then proposed some policy suggests according to empirical results, and finally outlined the limitations and forecast of this study in this paper.