The Analysis For Influence Of Corporate Governance Sttuctuer To Enterprise Intrinsic Value

The rise of the company system increased the separate degree of the two rights in company. The purpose of corporate governance is to ensure the maximization of shareholder’s rights and interests in the case of the separation of the two rights. Chinese securities market shares issued experienced twists and turns, under the policy intervention, So far it has experienced a total of 9 times to suspend and restart. Stock as a special commodity, is in accordance with the law of commodity value. The price of new shares is the issue of pricing, and its value is the intrinsic value of the distribution firm. In the stock market turmoil, this paper aims to help the company by improving the corporate governance structure to enhance the intrinsic value, so that achieve the effect of better financing.On the basis of previous studies, through the review of the classical theory of corporate governance, and combined with the existing problems in Chinese corporate governance structure, this paper proposes a series of indicators of the corporate governance structure. In this paper, we reviewed the classical theory of enterprise value. Three classical models are selected for empirical analysis and respectively, use the three classical models to estimate the intrinsic value of sample firms. According to IPO pricing options valuation models that suitable for the current Chinese securities market, and set the valuation result as the value of the variable that are interpreted in empirical analysis of this paper. Based on the review of previous literature and the characteristics of Chinese macro economy, this paper puts forward the hypothesis.According to the intrinsic value of the enterprise valuation and the hypothesis in the paper, we can perform multiple linear regressions. Besides, according to the different macro environment when sample listing corporation listed, we introduced dummy variables as the control variables. The study shows that in addition to the nature of property rights and the number of board of directors, all other assumptions pass on the test. According to the research results of this paper, combined with the problems existing in the management of Chinese Company, this paper gives some suggestions that can improve the internal value of the company and the corporate governance structure.