Prevention Research, Based On The Financial Risks Of Corporate Governance Of Listed Companies Irrational Guarantee

Many cases of irrational guarantee of listed companies have surprised every participant in China's securities markets. The trouble with irrational guarantee is that it not only hinders many listed companies' development, but also has been a very dangerous factor which influences China's securities markets' development seriously. It is necessary to avoid the crisis of irrational guarantee of China's listed companies. The author intends finding corresponding solution for above problem in terms of corporate governance.At first, by means of the method of normative research, the article interprets different understanding of corporate governance and the mechanism of corporate governance, analyzes two types of corporate governance system. Then the author puts forward with his own understanding of corporate governance, and analyses the characteristics of corporate governance of China's listed companies. Then the article generalizes the concept of irrational guarantee on the basis of the analyses of the history of China's listed companies' guarantee. By reason of vertical financial analytical method, the author does the analysis of financial crisis of irrational guarantee of China's listed companies. And then the author analyzes theoretically the relationship between internal and external governance and irrational guarantee of China's listed companies and makes the empirical study on the relationship between corporate internal governance structure and irrational guarantee of China's listed companies by stockholders' structure and board characteristics of the sample. According to above study, the author means to construct the mechanism of avoiding the crisis of irrational guarantee of China's listed companies in terms of corporate internal governance structure and the mechanism of external governance to enable listedcompanies to make rational decisions on guarantee.