The Research On The Relationship Between Securities Investment Fund Management Company Governance Structure And Investment Performance

At present, securities investment funds have become the main subject of the investment of securities market in China. It is important to research the behavior, performance and its influencing factors of the fund management company to the whole fund industry and securities market. The ultimate goal of the operation and management of the fund management company is to protect the interests of fund holders, so does the company governance goal. However, the development pace of fund industry become slow and the interests of fund holders cannot be guaranteed in recent years, as result, it is of great theoretical and practical significance to analyze, improve and optimize the investment performance and governance structure of the fund management company. Therefore, it is essential to research on the governance structure and its influence to the fund investment performance in order to make the interests of fund holders get effective guarantee.This paper use theoretical analysis and empirical research methods, conducted related theoretical analysis and literature review, analyze the current status of the development of the securities investment fund management companies in China, construct the variables system, regression model and collect relevant data according to the study hypothesis which proposed based on existing theories and previous research results. The data of this paper is selected from the source database, use 48 securities investment fund management company as the research object to analyze company’s fund performance, the fund data excludes selected bond fund and cash fund. This paper selected board governance and ownership structure of governance as the factor of governance structure, establish the multiple regression model for the descriptive statistical analysis, conduct the correlation analysis and variable regression analysis, examined the proposed hypothesis, draw conclusions, and make relevant recommendations on corporate governance structure based on research findings. The research of this paper will provide advice and reference for the governance structure of securities investment fund management company in China, and it has a certain practical guidance value for improving the performance of the fund industry.