The Impact Study On The Enterprise Performance Affected By The Stakeholders Of The Listed Companies

In recent years, the company financial goals change from maximizing stakeholderwealth,which based on the shakeholders on doctrine into the enterprise performancemaximization,which based on the stakeholder theory step by step. Enterpriseperformance maximization based on the stakeholder theory accepted by academia moreand more, but it has not been widely used in practice level. In view of this, this articlearound the stakeholders of the company performance maximization is studied, with thestakeholder theory, contract theory, signal transmission theory as a guide, to normativeresearch and empirical test method of combining, the stakeholder satisfaction andcompany performance relativity test. This paper studies for revealing the stakeholdersand corporate performance relationship, guiding the company management practice,from theory and practice are very important.First, this article summarized the related research on the relationship between thestakeholder theory and the enterprise performance maximization systemly,integrated thestakeholder theory、enterprise performance theroy and other theories on this basis,formed the theoretical basis of this article. This article supported by the contract theory,according to instrumental and normative view point, stated the reason for selecting thesatisfaction of the shakeholders, searched the entry point for researching the relationshipbetween the stakeholders and the enterprise performance.And this article analyzed themechanism of stakeholders affect the enterprise performance with the signaltransmission model and the expectancy theory,bedding for the research on the ways andmeans of stakeholder behavior affect the enterprise performance.Second, this article analyzed the mechanism of the way the stakeholder effect theenterprise performance. This article analyzed the status and the effect of the selectedstakeholders in the enterprise performance creation, discussed theirs requirements. Thearticle analyzed the different behavior when the coporate meet and doesn’t meet therequirements of stakeholders, combined the roles of stakeholders in the enterpriseperformance creation, formed the mechanism charts of the enterprised performanceimpacted by the stakeholder.Finally, this article set up the indexs on behalf of the satisfaction of the stakeholders and the enterprise performance,proposed the regression analysis modelsand principal component analysis models. Through the filter, this article selected asample of536listed companies, tested the relationship between stakeholder satisfactionand enterprise performance respectively used the statistical software SPSS17.0. Theresults confirmed the hypothesis of this article basically, stakeholder satisfaction higher,the more they input for the enterprise, thus the higher enterprise performance.