Empirical Research On The Corporate Governance Structure?governance Behavior And Governance Performance In Chinese Listed Pharmaceutical Companies

As an important part of the national economy, the pharmaceutical industry is an important manifestation of the comprehensive national strength, it is closely related to people's health. The rapid development and the high R&D requirement also makes the intra-industry fierce competition in professional and management aspect. Constantly improve of the ability of science and technology requirement, the efficiency of capital operation is raised to a new level, in order to achieve a long-term development and improve its competitive advantage, enterprises need to deal with the enterprise resource allocation and management problems, principal-agent problems, the enterprise operation efficiency problems. Otherwise, the perfect corporate governance system is the fundamental system guarantee. At present, in view of the corporate governance in domestic and overseas related literature has made relatively rich research achievements, but less study of listed pharmaceutical companies. Therefore, from using the framework of SCP analysis paradigm, this paper based on the governance of listed pharmaceutical company performance, study how the corporate governance structure through the management behavior to influence the management performance.This thesis, starting from the perspective of the governance behavior with intermediate effect, the governance structure to governance behavior and governance behavior to governance performance conduction mode to do related research analysis. In the empirical part of this thesis, the author choose in 2013, China's 149 listed pharmaceutical companies data as sample, by certain standards strictly selected 143 valid samples, and using the governance structure as the explanatory variable and governance performance as the dependent variable and governance behavior as the intermediate variable, using intermediary effect test method in the SPSS statistical software, to verify China's listed pharmaceutical companies' research path based on the SCP paradigm. Finally, combined with the current situation of pharmaceutical enterprises in China, starting from the actual situation, put forward the relevant suggestions, to provide relevant reference to improve the level of China's pharmaceutical corporate governance.Through the empirical study results we found that the governance behavior does exist an intermediary effect between governance structure and governance performance. To a certain extent, governance structure index exist the correlation with governance behavior, as an intervening variable, governance behavior also impact on governance performance. The results can be explained in any case that the governance behavior has an intermediary role between governance structure and governance performance.The innovation of this paper lies in: first, with the help of industrial economics, industrial organization theory of the classical SCP analysis paradigm, establish theory model about governance structure- governance behavior- governance performance, enrich the research of company governance. On the one hand, we focus on governance behavior of intermediary role, it will contribute to a more comprehensive understanding the factors of affecting the company governance performance; On the other hand, management behavior were analyzed respectively from the decision and control two dimensions, and resulting decision behavior performance and control behavior performance, the understanding of the governance performance not as a single company's financial performance, and it is produced control performance by the supervision; Second, it takes the method of intermediary effect test, from the perspective of linear and nonlinear, breakthrough the limitations of linear thinking of the past research, makes the research more scientific and reasonable, and enrich the methods of empirical test.