An Empirical Study Of The Relationship Between Corporate Governance Structure And Corporate Performance

China has raised the slogan of a modern enterprise system nearly twenty years. With national policies promoting and financial market development and rational diversification property structure of the general concept has been accepted in theory and practice. As one of diversity of equities, foreign shareholders have been in china for ten years. The documents issued by China Securities Regulatory Commission in November 2002 and September 2009 marked the introduction and development of QFII system in China and the beginning of a new chapter with development of Chinese securities market. As the system is constantly improved and perfected; the emergence of foreign investment has changed the governance structure of listed companies obviously in China .Has and will give the performance of Chinese listed companies some impact.In this paper, there is comprehensive and systematic analysis of the corporate governance structure influence on the performance of listed companies with the theoretical analysis and empirical study. According to the different nature, the foreign shareholders are divided into QFII and company shareholders. With the deepening of the concept of property diversification, the basic completion of splitting share structure reform and the relaxation of monetary policy in the country, the paper researches on the latest data on foreign ownership of listed companies in the manufacturing sector. As a sample on our top ten shareholders of the foreign shareholders listed companies in the manufacturing sector, by the operating performance indicators will be 10 independent variables which several aspects of corporate governance characteristics into multiple linear regression analysis. By the way of empirical analysis, it researches on the governance structure of listed companies in the impact on business performance. Through the improvement of corporate governance structure to find a effective way to increase business performance.Empirical study of heteroscedasticity adjusts multiple linear regression model is based on 273 sets of data from 91 manufacturing industries in China listed companies from 2008 to 2010 for 3 consecutive years. The main conclusions obtained are as follows: Sector debt ratio, the proportion of foreign ownership and the proportion of independent directors in the foreign ownership of manufacturing listed companies negatively correlates with firm performance; Ownership concentration, executive pay and QFII ownership in foreign ownership of manufacturing listed companies and corporate performance are related. Nonlinear regression to the conclusion: board size and corporate performance are related to U-shaped. According to the conclusions, this paper presents recommendations for improvement of corporate governance structure from the perspective of corporate performance at last.