Research On The Corporate Performance And Chairman Turnover

It is essential to explore the practice of the proxy between shareholders and Board of Director, when we discuss the relationship between corporate performance and chairman turnover in state-owned companies. According to researches of corporate governance, corporate performance is a significant indicator to evaluate the operation and management under the leadership of chairman as the method of incentive from shareholders. The thesis mainly focuses on whether the decrease of corporate performance will give rise to the turnover of chairman in state-owned companies. Besides, by using the data of index of market degree, the thesis researches whether different market degrees will bring about different levels of relationship between corporate performance and chairman turnover in state-owned companies, that is, whether different degrees of market, government intervention and product market development will bring about different levels of relationship. Based on the effects of government intervention and market regulation to the turnover of chairman in state-owned companies, the thesis will put forward about certain suggestions.The thesis will develop into six parts as following,The first part is introduction, which introduces the thesis’s background, meaning sense, contends, framework and creative points.The second part is definition, which demonstrate that chairman is the representative of senior management in state-owned companies in China, and literature review, which reviews the effects of corporate performance to the turnover of chairman and the degree of market to the above effects.The third part is hypothesis deducing. Firstly, the thesis examines the negative relationship between corporate performance and chairman turnover in state-owned companies. Secondly, the thesis researches whether different market degrees, especially the degrees of relationship between governance and market and the degrees of product market, will bring about different levels of relationship between corporate performance and chairman turnover in state-owned companies. The forth part is research design, which mainly focuses on the indicators of corporate performance, turnover of chairman, index of market degree, levels of market degree, classification of market degree and controlled variables, the range of specimen and model design.The fifth part is empirical analysis, which depicts descriptive statistics and multivariate regression analysis the proposed research hypothesizes respectively.The sixth part is research result and certain suggestions, which summarizes the above analysis and put forward about reasonable suggestions.The creative points of the thesis are about the combination of opinions of western reference and the background in China, the analysis of effects of relationship between governance and market to the level of relationship between corporate performance and chairman turnover in state-owned companies in economic transition period and introduction of the perspective of market degree for further examination.