The Research Of Correlation Between Governance Structure And Financing Structure In Family Enterprise

Family businesses are more common in economic society of a kind of organization, China’s family enterprise in after the reform and opening up have great progress, and the development of family enterprises of our country’s economic and social development also plays a more and more important role. Even so, China’s family enterprises in the development process but are facing many limitations, and restricts the sustainable development of the enterprises, to break the limitations, the family business governance structure should be optimized. Enterprise financing structure and governance structure are closely related, the enterprise financing decided all the stakeholders of the relationship between rights and obligations, and is the foundation of the governance structure; And governance structure that embodies the enterprise internal relationship is the major problem pattern of enterprise of the key decisions, these problems include the enterprise’s financing structure decision, at the same time, good corporate governance structure and matching and financing institutions to promote the healthy development of great family enterprise and enterprise value enhancement. So the family business governance structure and financing structure of relevance for the family business is of great theoretical and realistic significance.This paper firstly in the previous research results based on summarization of the family enterprise, defining the governance structure and financing structure of the concept of the enterprise and governance structure and financing structure related theory were introduced, and then analyzes the enterprise management structure and the connections between financing structure, and introduced the Chinese family business governance structure and financing structure of the status quo. And then on the theoretical analysis and based on the analysis of the present situation, with the public family enterprise as an example, the selection of the number of the directors, the proportion of the independent directors, family control proportion and the chairman and general manager two hats one state variable to describe four listed family enterprise governance structure, on the financing structure in the description of the selection of the asset-liability ratio, current debt ratio, internal financing ratio, between enterprise financing ratio, the bank financing rates five indexes, the public family enterprise governance structure and financing of structure between the descriptive statistical analysis, the correlation analysis and regression analysis, it is concluded that the number of the directors, the proportion of the independent directors and family control proportion and equity financing was positively associated with the debt financing is related, and the chairman and general manager both state and unity between enterprises is inversely related to the financing ratio conclusion.At last, according to China’s family enterprise in the governance structure and financing structure in the existing problems on how to optimize family business governance structure and financing structure puts forward some policy Suggestions.