| The risk and return of the enterprise is the core problem in the process of enterprise management,which is related to the survival and development of the enterprise.There are many factors that affect the risk and return of the enterprise,including the external macro environment and its elements.However,the most fundamental factor to influence the enterprise risk and return,still from the enterprise,corporate governance is the most important factor.With the help of effective corporate governance,risk aversion can motivate managers to actively take risks,can supervise managers for their own interests and adopt excessive risk-taking,by allowing less rational managers to strengthen enterprise internal control to reduce the risk,so that enterprises obtain high returns.With the effective implementation of corporate governance,will produce incentive and supervision,so that managers and shareholders consistent,managers will be more eager to take the positive risk decision,restrain managers moral hazard,in order to reduce the risk of the enterprises.This paper focuses on the impact of corporate governance on risk and return,and the two chairman of the alleged serious violation being investigated A shares of listed companies:Yunnan Tin Co.,Ltd(referred to as:Tin shares,stock code:000960)as the research object.The article will carry on the analysis from two aspects of internal and external corporate governance,in which the external corporate governance is mainly from the market of control rights,the manager market and the product competition market;The internal governance of the company focuses on the board structure,board of supervisors structure,executive compensation and information disclosure level,this paper research with Tin shares information and data,analysis of the company executives scandal and operating results continued to decline for many years reflects the problems of corporate governance,and the reasons for the high risk of investment has not been the reason for high returns. |
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