Ownership Structure And Corporate Governance Mechanism Study

In overseas, the company governance is in extremely rich research field from the theory to the practice, in which the scholar and company's superintendent have already accumulated the quite many research results. And in China, as the modern enterprise system established, people gradually realize how important corporate governance is to our performance and competition. So how to introduce the researches of foreign countries and explore a corporate governance mode adapted to our country is always an important subject for us.Nowadays, the domestic state-owned enterprise reforms are on the rise, and the circulation and deduction of state owned enterprise are still hot, therefore the relevant problem on ownership structure and companies performance causes much attention. But the situation in China is complicated and the prominent character of ownership structure in Chinese listed companies is the separation between circulated shares and non-circulated shares. Non-circulated share has big quotation. Circulated shareholders supervise power is weak. All of these make big difference between domestic and foreign research. This paper makes research on whether there is significant correlation between ownership structure and performance in China, whether the ownership structure is helpful to enhance the management achievement.The author uses such analytical methods as incomplete contract theory, request-agent theory from the view of the modern firm theories to analyze relationship among the ownership structure, corporate governance and corporate performance in order to found general analytical frame among them. Then, the author carries on the comparative analysis on the three kinds of dominant ownership structure and the main pattern of corporate governance in the world. Through summarizing the present situation and character of ownership structure in China, the author analyzes the question existing in the ownership structure and corporate governance, then analyzes and summarizes synthetically the relevant empirical research with ownership structure, corporate governance and corporate performance and draws some conclusions. Finally, the author promotes enlightenment and suggestion about improving corporate governance.According to this empirical conclusion, some advices are given in this paper on the purpose of optimizing the ownership structure and enhancing the performance of corporate governance as follows:...