The Relationship Stakeholder Interests, Corporate Governance And Firm Performance Research

With the development of the economy, enterprises in the whole economy are becoming more and more important, but the problems posed by the business activity is increasing as well; especially in the new century, the problemes are even more serious. Shenzhen Foxconn employee's jumpping events and Zijin Mining Tingjiang pollution incident pushed the conflicts among enterprise and its employees, environment to the front of the public. Obviously the problem is not effectively resolved, it will cause bad effect on China's economy health and sustainable development Therefor,the infulence of China's economic reforms will fade a lot.Based on the interests of stakeholders,this essay quantifies the size of quantization, and then quantifies the performance of its relationship with the company, combing with corporate governance theory to study the demands of the interests of stakeholders through the corporate governance impact on firm performance, and this kinds of quantitative intermediate effects quantified. Empirical results show that:Firstly, in general ,enterprises meet the interests of various stakeholders of the requirements, but the gap between the companies differs significantly and fluctuates volatility. The pursuits of the interests of various stakeholders have a significant impact of company's performance,however,the degree is different. Secondly,Through analysis, we found a significant impact on shareholders and creditors, a less impact on suppliers, vendors, executives, corporate employees and government. Thirdly,creditors, directors, employees, government, suppliers, vendors have a mediating effect,while executives are influencing the corporate performance directly. The mediating effect is most obvious in the value of director shareholdings, debt ratio, sales tax rate and the ordinary shares of profitability, vendor and supplier have a part of the intermediary role, the mediation of enterprise workers is very small.