Empirical Study On The Effect Of Corporate Gvernance Structure To Listed Companies’ Economic Responsibility

The corporate governance structure is a system for management and control. Itnot only stipulate the responsibilities and rights distribution of the individualparticipants and other stakeholders of the company. Moreover, it is clear that we mustfollow the rules and procedures, when we decision the affairs of the company. Thecompany’s economic responsibility is one aspect of corporate social responsibility. Itmainly reflects the responsibility of company to the shareholders, creditors,employees, suppliers and customers。The corporate governance structure of the listingcorporation has great influence with the economic responsibility of the company. Theprevious governance adhere to the "shareholders supremacy" theory. Since enteringthe new century, malignant events such as Enron, WorldCom, seriously damaging theinterests of owners and stakeholders.This article, using the method of normative research and empirical research,study on effect of corporate governance structure of the listing Corporation ofeconomic responsibility. First, review and analysis of Chinese and foreign literature. Then, expounds the theory of corporate governance and economic responsibility.Definition of the corporate governance structure and economic responsibility; Brieflyintroduced the stakeholder theory, principal agent theory; Detailed analysis of thegeneral meeting of shareholders, stock concentration degree, the board of directors,independent directors, board of supervisors, managers pay influencing on corporateperformance of economic responsibility. Then set the economic responsibility index torepresent the company’s economic responsibility. Put forward the assumptions ofeffects of the corporate governance structure of each index for enterprise economicresponsibility. Taking the2010-2013Shanghai A shares in the listing corporation asthe object of study. By using multiple linear regression model to analyze the corporategovernance structure influence on business performance of the economicresponsibility. The number of companies to convene a general meeting ofshareholders was positively associated with economic responsibility; Ownershipconcentration degree, the size of the board of directors, executive incentive was negatively associated with economic responsibility; The company has the state shares,ratio of independent directors, the size of the board of supervisors not obviouscorrelation with the economic responsibility. Finally, the analysis of the answer, cometo the conclusion of the study. Put forward the optimization suggestion on governancestructure of Chinese listing Corporation ltd.. So as to improve the economicresponsibility fulfillment of listing Corporation.