Study On The Relationship Between Internal Corporate Governance And Performance Of Listing Corporation In China

Corporate governance includes internal governance mechanism and external governance mechanism, and the company’s external governance includes the macro environment such as political and economy. For internal governance, it is embodied in every organization level, and the company’s property rights arrangement between different interest subjects, and specific implementation aspects of the operation and management mechanism, and all of them form the effectiveness of the internal governance. With the establishment of the modern enterprise system and the rapid development of global economy, the company’s internal governance theory improves the efficiency of enterprise operation and increases the effects of management. Scientific and effective internal governance mechanism is helpful to improve the efficiency of the company’s operations management, and enhances the enterprise in the process of capital circulation effectiveness and profitability. Not only that, it can reduce the company’s operating costs, and raise profit margins. Formulate the perfect corporate governance mechanism, and the company’s scientific and effective management mechanism has become the attention focused by the related industries, and it is a subject in many scholars research direction.In this paper, on the basis of research achievements from home and abroad scholars, through theoretical analysis some problems arise from the internal governance of listed companies in China. It analyzes the relationship between influencing factors and enterprise performance from the aspects of internal governance mechanism as a whole, including the equity governance, the board of directors governance and the board of supervisors. The paper studies by combining normative research and empirical research, quantitative analysis and qualitative analysis, comparative analysis and comprehensive analysis, as follows:(1) In the relevant research literature at home and abroad were reviewed and summarized, we study on the basis of the research methods and ideas of the proposed in this paper, and the system defines the relative concepts of corporate governance and corporate performance. To research the company’s internal governance, the related theories of enterprise performance is analyzed, mainly including principal-agent theory, incomplete contract theory, signaling theory, stakeholder theory and so on. To the problems existing in the internal governance of listed companies in China through theoretical analysis, this paper introduces the defects of internal governance mechanism of listed companies in China.(2) After the theoretical guidance, on this basis, we take an empirical study between the variables in the internal governance of listed companies in our country. This paper selected the Chinese Shanghai A-share listed companies as samples. After the filtering data and processing, we selected the total number of 2038 samples. We adopt the method of regression analysis, descriptive statistics, correlation analysis, regression analysis, and select net assets and earnings per share for the company performance indicators to analyze the main part of the internal governance. It mainly includes the relationship of the governance equity governance, the board of directors and supervisors governance of the corporate performance, and our study provide empirical evidence and data to support for the company’s internal governance mechanism. We have the following conclusions: by the way, there is no inevitable relation between concentration and corporate performance; There is a relationship between the scale of independent directors and corporate performance, but only when the scale of independent directors in a certain range can it improve corporate performance. If the size is too big or too small, it is bad to the improvement of corporate performance; There is a positive correlation relationship between the size of the board of supervisors and company performance; The number of meetings of the board of supervisors is positively correlated with corporate performance.(3)We propose relevant suggestions and countermeasures to perfect the company internal governance, including optimizing equity structure, improving the level of board governance and improving the functions of the board of supervisors, and the three parts cooperate with each other and form auxiliary to each other.