A Study On Management Structure Of The Company And Corporate Performance In New Energy Industry

With China’s rapid economic development,R & D investment plays an increasingly important role in China’s economic growth.From the perspective of internal corporate governance,strategic decisions in corporate R & D investment will affect the survival and development of corporate,and that is so important that R & D will directly affect the core competitiveness of enterprises,related to the ability of the business to adapt to market changes and the future business performance and development of company.Based on this relationship,problem in this article is that how companies to improve their own governance structure to carry out more effective research and innovation activities,and how these research and innovation activities to improve their own corporate performance.From development process of China’s new energy industry,this article is adopting a method combining theoretical and empirical perspective,and analyzing the relationship of companies governance structure,investment and business performance in China’s new energy sector including 193 listed companies.In this research process R & D investment is not only the core of the study,but also is mediating variables of this article,the governance structure from internal management is mainly explained by ownership structure,board structure and management structure,ownership structure is holding the largest shares proportion of shareholders and equity balances as a measure,the board structure is selecting the size and independence of board as measure,management structure is selecting the leadership structure and the shareholding of management as measure,business performance is measuring by ROE.By studying the relationship between governance structure,investment in research and business performance,this article is drawing the following specific conclusions: the largest shareholder ratio,equity balance degree,the size of the board of directors,and the stake of management have a significant positive effect to business performance,the proportion of independent directors,the structure of leadership have not a significant relationship to corporate performance;the largest shares proportion of shareholders,equity balance degree,the size of the board,the structure of leadership and management shareholding all have significant relationship with R & D investment,the proportion of independent directors has not a significant relationship with R & D investment;R & D investment play a significant mediating role in the relationship between the largest shares proportion of shareholders,equity balance degree,the size of board the management,the shareholding of management and business performance.Finally,basing on the above conclusions,we put forward related measures and suggestions.