Empirical Research On Corporate Governance Structure On Performance

Corporate governance structure is reasonable or not directly affect the company’s performance level, good corporate governance can increase the company’s internal control, improve the company’s daily operation and management efficiency, and ultimately improve company performance and achieve long-term stable development.China since reform and opening up, all walks of life ushered in the golden period of development, the real estate industry as an important driving force for China’s economic development, it is cause for concern. However, China’s real estate industry compared to other industries as a whole started late, the management of regulatory measures and related laws and regulations are not perfect, the corporate governance as a core part of the company’s internal management, but also need to be improved management efficiency. Especially in recent years, the real estate industry downturn,the slow pace of development of the situation, their quality of corporate governance is particularly important for the performance. Therefore, the use of the relevant data of articles listed companies in the real estate industry from 2012 to 2014 between the relationship between the various corporate governance structure and corporate performance management factor between empirical research.This paper describes the theory of the first three chapters, then the fourth chapter of empirical research studies to examine the performance of the real estate industry in corporate governance variables affect how much, and finally with the current prospects for the real estate industry’s own empirical findings and the fourth chapter market recommendations.The first chapter is the introduction part of this paper describes the governance structure of listed companies in the real estate impact on the performance of the relevant research background and the purpose and significance, then introduce the relevant domestic and foreign literature review on corporate governance structure as well as for the corporate governance structure and performance of the review of relevant research studies the relationship between domestic and foreign, and above all the relevant literature review to summarize. Finally, the article describes the overallresearch framework and research methods used in the research process.The second chapter introduces the theory of corporate governance. First, the main representative for views on the corporate governance structure at different times by different scholars at home and abroad were summarized, and then describes the relevant theories, including the theory of property rights as the basis, as the core of agency theory and as an extension of the interests and development of stakeholder theory. Finally, China’s real estate industry is different from other industry characteristics and development in recent years, the necessity of this study conclusions and stable development of the current real estate industry show.The third chapter is about the theoretical aspects of corporate performance studies, including the meaning of corporate performance and related factors. The main factors affecting the company’s performance is divided into internal factors and external environmental factors. Internal factors are the strategic objectives the company to develop the company’s governance structure, the company’s financial activities and the company’s internal management control and other aspects. External environmental factors that affect company performance, including aspects of the external economic environment, the country’s tax law environment, financial market conditions and the social and cultural environment in different areas and so on. Then introduce the main indicators to measure the company’s performance. Finally,according to the above theoretical analysis, combined with the actual situation as well as a representative of listed companies related to this article and the availability of data, select behalf of the company earnings per share performance.The fourth chapter is the empirical section of this article. A first step, the study design, including sample selection and the sources of data; interpretation and definition of the relevant variables; and then summarizing research presented herein impact on the performance against the corporate governance structure of each control factor on the basis of the findings of many scholars assumptions, and relevant models.The second step, the real estate industry in the study sample were selected from the ownership structure, board governance, to senior management and the Board of Supervisors governance incentives were four aspects of descriptive statistical analysis,and the results of descriptive analysis and related charts various governance factors presumed correlation between company performance. The third step, correlation analysis, the main test correlation between variables. The fourth step, multivariate linear regression analysis, the corresponding regression equation based on the regression analysis of the results and interpretation of the results.The fifth chapter is to make recommendations for the empirical results of Chapter IV. The empirical results show that there is a positive correlation between governance factor for all of China’s real estate industry corporate governance structure between pay and corporate performance only and the shareholding of the top five shareholders and the top three senior executives. Additional control variables in the model also has some impact on performance. Finally, development of real estate industry in recent years, put forward suggestions for improvement. This is the current real estate industry to resist risks, improve the corporate governance structure,improve enterprise performance has a certain reference value.