The Empirical Research Between Corporate Governance And Performance Of Chinese Listed Companies In Transportation Sector

Abstract:It is known that transportation sector in China are state-owned enterprises. Along with the reform of the state-owned enterprise, the corporate system reform of transportation sector is keep pushing on. Transport industry has made huge development through rationalizing the relationship, changing their operating mechanisms, optimizing the organizational structure, fostering the mature transportation market and switching the function of government in corporate management. However, due to the special conditions, the reform of Chinese state-owned enterprise has obvious signs of intervening artificially and their performances are usually inadequate, so does the transportation sector, reform. Based on the previous corporate governance theory and the results of some researches, this thesis found some defects of corporate governance in the transportation sector through empirical analysis, gave suggestions to improve them and also provides some practical experience for the reform of China’s railway industry. Based on the review of relevant theory and research, this thesis first proposed several assumptions about the relationship between corporate performance and corporate governance structure. And then through sample selecting, variables designing and the model explaining, the thesis made empirical research between corporate governance and performance. Finally comes to the conclusions and suggestions, which are expected to be helpful in the reformation of the China railway. There are five parts in the thesis. The first:the preface part. This part analyses the research background and significance, thereby proposing the research emphases. The second:The related concepts and literature review. This part includes introduction of related concepts and two reviews: performance evaluation of transportation sector enterprise, the impact of corporate governance on corporate performance and finally comes to the summary. The third: design of the empirical analysis and the relevant statistics. This part is the examination of the performances of research samples, and some variables are given accordingly. The forth:empirical analysis. This part is about the data analysis. The finally, conclusions and suggestions. Supported by the theory and empirical analysis, conclusions and suggestions are put forward to improve the performance of privation reform in China, which is expected to be helpful in the reformation of the China railway.