The Research On The Indicator System Of The Efficiency Of Corporate Governance

As our country promoting and establishing modern enterprise system gradually,corporate governance received extensive attention of the theoretical and academic circles.In addition, recently years, our country’s corporate governance issues are serious,governance efficiency is so low that influent the healthy development of enterprises.Therefore, it is necessary to build a set of evaluation index system of corporate governanceefficiency to improve the quality of govermance.This article is based on the analysis of authoritative corporate governance evaluationsystem at home and abroad，draw on the experience of its advantages，combine with ourspecific national conditions and build an assessment indicator system composed of fivelevel indicators and twelve secondary indicators followed by the objectivity and operabilityand comparability according to corporate governance principles of OECD、the corporategovernance framework of the world bank and the listed corporate governance guidelines inChina. Because of birth defect of board of supervisors in our country，they can’t play a rolein the listed companies. This article doesn’t take them into account. The assessmentindicator system includes twelve specific indicators about equity structure、administrator、managers、information disclosure and financial performance.On the basis of assessmentindicator system, This article makes factor analysis of sample data and get thecomprehensive score of corporate governance efficiency by taking Shanghai A-share listedcompanies as samples. This article chooses the top fifty and the last fifty and divides theminto two different groups---marked A and B. Then it analyzes the specific situation of eachfactors, summarizes the governance characteristics of companies which have lowgovernance efficiency and makes suggestions about how to improve the efficiency ofgovernance of the listed companies in our country in the end.