Study On Business Performance Of Cultural Media Listed Companies Based On Corporate Governance Perspective

For a long time,corporate governance not only plays an important role in the daily development of enterprises,but also becomes a hot topic in academic circles.Especially,the relationship between corporate governance and business performance is even more so.After more than 10 years of the reform split share structure reform,the listed companies are more mature in terms of corporate governance.The corporate governance of listed companies and business performance research is a test of China's share reform results,which can also provide feasible suggestions for China's Listed Companies in corporate governance.As an important component of China's third industry,the cultural media industry plays an important role in the social and economic development,and the corporate governance of the listed companies reflects the corporate governance of the whole industry.Therefore,starting from the relationship between corporate governance and business performance,this paper studies corporate governance and performance of Listed Companies in China's cultural media,and puts forward relevant suggestions on improving corporate governance.This paper is divided into five parts.The first part introduces the research background,the purpose and significance of the research,and the methods used in the study.The second part introduces the related theory about corporate governance and business performance,and analyzes the research on corporate governance and operating performance of domestic and foreign scholars,including the relationship between ownership structure and business performance of the relationship between board governance and the operating performance of the relationship between supervisors and performance management,incentive and the performance of executives.The third part is the introduction of the governance characteristics and current status of the development of cultural media company in China listed companies,and further analyzes the relationship between ownership structure,board governance,governance of the board of supervisors and senior executives incentive mechanism and corporate performance.The fourth part is the empirical analysis method,I select the largest proportion of controlling shareholders,the ratio of the second largest shareholder and the largest shareholder's equity,the size of the board of directors,independent directors accounted for the proportion of board members,chairman and general manager of the two level one condition,the size of the board of supervisors,executives holdings in proportion as the explanatory variable,select the company's net assets yield as explanatory variables,and the corporate scale and capital structure as the control variables for correlation analysis and multiple regression analysis using the cross-section data of culture media listed companies from 2012 to 2015.At the fifth part,I put forward countermeasures and suggestions for our cultural media listed companies how to conduct corporate governance and improve business performance according to the analysis results.