The Study On The Relationship Between Corporate Governance And Corporate Performance Of High-growth Small And Medium Enterprise Board Listed Companies In China

As the most active economic unit,small and medium companies have made important contribution to our countries' economic development,and being more and more important.With short development time and unstandardized management way,these companies may face many problems from corporate governance,which limit their development,and have not good growth.The situation restricts the space of small and medium companies and even prevents them from continuing operation.Small and Medium Enterprise Board Listed Companies(SMEs)are on behalf of small and medium companies,and studying on them can provide some help for small and medium companies.Therefore,this paper select high-growth companies in SMEs as research object and try to study the relationship between corporate governance and firm performance to provide reference for the development of our countries' small and medium companies.Firstly,the paper describes the basic theory of corporate governance.Secondly,based on the reviewing of literature,this paper summarizes the known conclusions at home and abroad and finds that the conclusions are not consistent.The study provide sufficient theoretical basis for the following empirical research.Then,in order to get more scientific conclusion,this paper reviews and analyzes the evaluation method of the company's growth and corporate performance,and based on this,this paper has finish choosing evaluation methods.The following is the empirical study.The paper firstly evaluates company's growth situation and selects 101 companies as high-growth companies.Then the thesis does the regression analysis from ownership structure and management structure.Though empirical analysis,we can get following conclusions: relative concentrated ownership structure,counterbalance ownership structure will help improve company's performance.It will have a negative impact on performance when the ownership is too concentrated or too scattered.Ownership attribute has no significant relationship with corporate performance,and corporate-owned failed to play an active role.There is negative impact on the improving of corporate performance with board staff,and the number of independent directors and the number of board meetings did not produce a significant impact on corporate performance.When the president and CEO are served by two people,it's easier to enhance the corporate performance.The proportion ofexecutive-owned has positive correlation with corporate performance.More supervisors will help enhance corporate performance,but the proportion of their shareholding has no correlation with corporate performance.Finally,this paper gives some policy recommendations,which has reference value for the development of small and medium companies.