A Research Of The Governance Structure Of Ownership Effect On Governance Efficiency Of Hybrid

With the rapid development of China's economy, mixed ownership enterprises obtained the considerable development and progress, with a considerable scale of operation and financial strength, has become the basis of the strength of China's economic development, is an important part of our country enterprise essential, therefore, vigorously develop the mixed ownership economy is the trend of the times, which is of great significance. The study of mixed ownership governance structure and governance efficiency, help to enhance the efficiency of enterprises, can optimize the allocation of resources in the enterprise, and enhanced state capital on other capital radiation function, thereby enhancing the control power of the state-owned economy of our country, influence and market competitiveness, help to gain a foothold in the fierce competition in the market. Therefore, it is necessary to carefully study the mixed ownership governance structure and governance efficiency.This paper focuses on the 2011-2013 in Shanghai and Shenzhen Stock Exchange Trading of mixed ownership enterprises, explores the mixed effect of ownership structure of corporate governance on corporate governance. This paper consists of the following components.First of all, this paper gives a simple description of the research background, and introduces the main research methods and innovations. After reading a large number of domestic and foreign literatures, this paper to the literature were systematically and classified, and the literature review of the literature.Secondly, this paper introduces the related concept definition and theoretical basis, including the principal-agent theory, property rights theory and the theory of capital structure. And for the mixed ownership enterprise governance structure impact on governance efficiency is also analyzed.Again, this paper describes the research status of mixed ownership enterprises governance structure and governance efficiency, and the efficiency of corporate governance structure and to analyze the influential factors, from the ownership structure, the board of directors of the three aspects of executive compensation structure, select 5 explanatory variables, and the size of company, the company's ability to grow as a control variable, empirical research hypotheses on the basis of theoretical analysis and constructs an empirical model, using descriptive statistics, correlation analysis, multiple regression analysis and an empirical test, to verify the research hypotheses, and analysis the results of empirical interpretation, and classify the mixed ownership enterprises, divided into state-owned and private holding. Empirical results show that, the top three total remuneration of senior executives were of mixed ownership enterprises governance efficiency have positive influence the proportion of the largest shareholders, ownership concentration, board chairman and general manager of mixed ownership enterprises governance efficiency has negative influence and impact effect is remarkable.Finally, this paper combines the empirical part draws a conclusion, to perfect the corporate governance structure and improve the efficiency of put forward reasonable suggestions.